Mish's Global Economic Trend Analysis: Brink of Debt Disaster

Mish's Global Economic Trend Analysis: Brink of Debt Disaster: WHY REPUDIATION WILL COME
"The United States and the United Kingdom stand on the brink of the largest debt crisis in history.

While both governments experiment with quantitative easing, bad banks to absorb non-performing loans, and state guarantees to restart bank lending, the only real way out is some combination of widespread corporate default, debt write-downs and inflation to reduce the burden of debt to more manageable levels. Everything else is window-dressing."