Sovereign Debt Crisis Queuing Up Round Two of the Global Financial Crisis

Without question, the sovereign debt crisis is in full swing … It is unsustainable debt that is threatening to break up the 12-year-old European Monetary Union. And it is unsustainable debt that is threatening default and downgrade to the most ironclad credit in the world: The credit of the United States. Investors and the media have been intently focused on the Draconian outcomes in store for U.S. markets and consumers, if such an event occurs. But they give little attention to the global implications! Imagine, if dicey U.S. residential mortgage debt in the U.S. triggered one of the worst global crises on record, then what should we expect to happen to the global economy if U.S. government debt . . . → Read More: Sovereign Debt Crisis Queuing Up Round Two of the Global Financial Crisis
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