Investment fund manager Kyle Bass gives a brief, clear explanation of the doomsday outlook in Europe and Japan. Well worth six minutes of your time:
"That is how spring-loaded this debt scenario is. When your debts get to become many multiples of your revenue, any slight movement in the cost of your debt [i.e. in interest rates] causes an enormous crisis right away....
I don't believe the E.U. survives in its current state...The bond market is telling you that it has already exploded."
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