Ballooning debt is likely to force several countries to default and the US to cut spending, according to Harvard University Professor Kenneth Rogoff, who in 2008 predicted the failure of big American banks. The US is likely to tighten monetary policy before cutting government spending, sending “shockwaves” through financial markets, Rogoff said.

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The global brokerage house proffers five reasons to stay bullish on the equities market near-term. But it says new headwinds are likely to hit the market in the second half of 2010.

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The blogosphere is abuzz over the disclosure by Silicon Valley startup Bloom Energy that it has come up with a fuel-cell technology that can replace conventional energy sources. But can it really? The devil, as they say, is in the details–and few of those have been made public.

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