The risk of sovereign government default is rising, says Eric Roseman. Several EU outliers have already had their credit rating downgraded. And emerging markets look even more vulnerable, with many currencies under pressure. Eric says investors should steer clear of the high-yielding emerging market debt for the time being.

You know it’s a real financial crisis when capitalists are being told what to do by a bunch of socialists and communists. But these are the times we live in. Ironic and moronic.