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“The market is overbought and there is a renewed sense of complacency in the marketplace that I think could get shattered pretty quickly,” says the chief economist and strategist at Gluskin Sheff in Toronto.
Posted Jul 28, 2010 11:18am EDT by Peter Gorenstein,Tech Ticker."In a country like North Korea, with conventional artillery lined up to literally obliterate Seoul within hours and with direct nuclear capacity and ballistic missile capacity, this is an unprecedented threat from a rogue state," Bremmer says. "Clearly there is a drumbeat in North Korea that they are trying to use to build patriotism and support for their own regime. The question is: how far do they have to go?"
Bremmer goes on to say that the markets have largely ignored South Korea's precarious situation. They should pay attention because Kim Jong-il wields enormous power and no one knows what he is capable of, including his presumed benefactors in China.
"So if this continues to escalate, and so far all indications are that it will, it is going to start creating an awful lot of concern on the ground with some economies that really matter to the world," he says.
Posted Jul 28, 2010 08:00am EDT by Keegan Bales, Tech Ticker.
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