Now you can scare your friends at dinner hinting at the hundreds of billion euros of government debt coming due every month in Europe in 2012. Happy new year!

Source: Goldman Sachs via ZeroHedge.
After reading this GMO paper, I realized that I didn’t fully understand implications on investment returns of payoff convexity and concavity.
Calls for a fairer system will not go away. If anything, they will spread and grow louder. The West has no choice but to strike a better balance - between capital and labour, between current and future generations, and between the financial sector and the real economy.
Now we know that the sucker buying up Italian bonds was MF Global.
Italy can offer much tastier and healthier things to eat up rather than its government debt.
As of September 16, 2011, the melt value of a U.S. nickel [the 5-cent US coin] is $0.0600409, which is 20% higher than the face value.