Is it a coincidence that Singapore is warning of European default risk?
http://www.bloomberg.com/news/2012-05-17/singapore-warns-of-europe-default-risk-as-economy-expands-10-.html
The volume of searches for the phrase 'Bank Run' has just hit an all-time high - higher now than
even during the peak of the Lehman Brothers 'moment' in 2008.
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It appears Singaporeans are running the most scared of bank runs.
Europe is in big trouble (though people are going to realise US is in a worst shape). A few years ago, I observed that the English Premier League, and some other European football leagues, looks like a bubble. They borrowed massively and paid bloated salaries to the players. If these clubs go insolvent, will we see a scenario whereby the banks seize the clubs' players?
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