To: Bio_investor who wrote (1619 ) 6/7/2012 9:35:39 AM From: glenn_a 1 Recommendation Read Replies (2) | Respond to Bio_Investor. this presentation of his was posted on Zerohedge last week (and is the source of the "RESET" comment you heard on BNN). I find Pal's outlook to be very similar to other top hedge fund managers such as Kyle Bass and Hugh Hendry - both in their emphasis on global debt deleveraging dynamics and their bearish outlooks on China and Japan. Generally, I view these guys as the real smart money. They have great track records over the longer term, but are often early on their trades. today's announcement out of China on monetary easing - and we'll see what Bernanke has to say today in his JEC testimony). So I think in many ways it boils down to how confident one is that global monetary authorities can engineer a policy response to prevent significant debt deflation and a smooth glide path to restructuring insolvent European banks. It's not a story that will be told tomorrow, or this week, or this month ... but will unfold with many twists and turns over the next decade. It is truly a fascinating time. Jim Grant - Ron Paul's preference for the next Fed Reserve chairman (which of course will NEVER happen).
