Been busy with tax day but here's some links and comments . . .
Greece 10 year bond yields keep rising and are very close to piercing pre bailout yields.
Some German profs are preparing a lawsuit. -- Telegraph.co.uk
Has Greece hit the Chandrasekhar limit and just doesn't know it yet? Once you go passed the limit there is no turning back.
Some back and forth on strategic defaults fueling consumer spending:
Pro Tinfoil: Creditwritedowns
Anti Tinfoil: The Big Picture
Creditwritedowns pulls together a lot of subjects and puts a nice bow on top describing a theory I agree with: We are in a balance sheet recession that will not produce a strong rebound and will take a long time to reconcile. I posted the Koo and Chanos videos recently but Mr. Harrison does more work tying it all together.
Total copper inventories have now risen for 2 weeks straight and are close to penetrating their recent peak level; LME inventories have dramatically slowed their decline and Shanghai inventories hit new highs today. Copper's getting smacked today. I'll write more about this soon(tm).
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