While everyone was asleep FIRST DEFAULT already occurred.

FIRST DEFAULT (sovereign default) = ICELAND

Iceland did not pay its debts to the U.K. and the Netherlands,
and will not/ cannot as we slide into deeper recession/depression.

So who wil be Next Default?

NEXT DEFAULT might be one of the PIGS.

But it can be also be Dubai or Dubai-like country like the U.K. or the Netherlands.

after a few or more Next Defaults, we will have Supreme Default.

SUPREME DEFAULT

will probably occur when we are already in depression together with the fall of the Dollar.

We might slide back to the Middle Ages

End of Empire

God Speed