Prepare for the worst and you will not be disappointed

Just in case you are feeling too cheerful, Moody’s, the debt rating agency, has some words of doom and gloom to send you into a deep depression.

“Genuinely adverse debt dynamics were only expected to materialise in 15 to 20 years. The crisis has 'fast-forwarded' history, eroding all the time available to adjust "

The US, UK, Germany, France, and Spain are all at risk of an "interest rate shock", either because they must roll over a cluster of short-term debt (US, France, Spain) or because deficits are so large.

Countries that "fail to demonstrate the level of social cohesion required to stabilise debt" will lose their AAA rating. "Intra-generational" conflict between young and old requires careful handling.

 Whatever way you look at it, Europe and the US is in for a ride into double dip recession. Best come to terms with that ‘fact’ and decide how you can prosper from it. Dick Stroud