THE financial analysts reporting in the mainstream media appear to be intentionally ignoring the elephant in the room.
It is the unregulated heavily leveraged junk bond and derivatives market, which amounts to trillions of dollars and are essentially bets on bets.
Warren Buffet once described them as “financial weapons of mass destruction”.
PerthNow Digital Edition.
Your local paper, whenever you want it.Get in front of tomorrow's news for FREE
Journalism for the curious Australian across politics, business, culture and opinion.
READ NOWP. G. COOKSEY, Mandurah.