Today, without much fanfare, US debt to GDP hit 101% with the latest issuance of $32 billion in 2 Year Bonds. If the moment when this ratio went from double to triple digits is still fresh in readers minds, is because it is: total debt hit and surpassed the most recently revised Q4 GDP on January 30, or just three weeks ago. Said otherwise, it has taken the US 21 days to add a full percentage point to this most critical of debt sustainability ratios: but fear not, with just under $1 trillion in new debt issuance on deck in the next 9 months, we will be at 110% in no time.
Read the rest here.
If you enjoy the content at iBankCoin, please follow us on Twitter
Final stages? According to Japan the US isn’t even half way there.
Related…
http://www.gresham.ac.uk/lectures-and-events/when-currency-empires-fall
When currency empires fall
Thursday, 7 October 2004
Barnard’s Inn Hall
Professor Avinash Persaud
Avinash Persaud is the founder and Chairman of Intelligence Capital. Prior to founding Intelligence Capital and the GAM Persaud Investment Funds, he was Head of Global Research.
The speaker predicts that the US dollar will lose its world reserve currency status by 2014, and that this will cause economic and political upheaval in the US.
Nothing like good old fear mongering to drive up attendance!
More like “common-sense mongering.”
The British pound lost it’s global reserve status after WWII, what makes you think we can keep abusing our situation in perpetuity?
________