Russia About to Default On Sovereign Debt Again < < The Nikkei newspaper has released a very troubling if not totally surprising story, that Russia will ask foreign lenders to reschedule loans worth $400 billion, potentially the equivalent of a debt default depending on how it is structured. ... A $400 billion dislocation in credit markets is not what the global economy needs. However, we have no doubt that the equity market will have already factored this news and rise to new depression highs... read more
