What the Sovereign Default ‘s Gonna Be Like

Financial markets around the world have been worried lately by ‘economic uncertainty’ in may parts of the world — or so we have heard –, predominantly the U. S. and their mind-boggling budget deficit as well as certain parts of Europe or the Sovereign Debt crisis. As part of that ‘uncertainty’ is fear taking over in the market of the things that might come if there is, to borrow from Helicopter Ben over at the Fed, a “real bad outcome”, everyone is wondering what that increasingly likely default of governments around the world and ensuing economic collapse might feel like....