Fed's Rate Cut Backfires as Treasury Yields Spike Higher. Mother of All Sovereign Debt Crisis? (maneco64)

Here we go again. He's talking about another sovereign debt crisis, like we saw a number of years ago with the PIG countries, Portugal, Ireland, Greece, where they had massive debts that nearly sank them (where Greece had been loaded up with the help of Goldman Sachs). This time the sovereign debt crisis looks to be featuring the formerly strong economies of the USA and Europe. Too much debt and basket case, recession headed, real economies, with the Ponzi Scheme having trouble holding together. Will more Fed bailouts hold off another disaster? Probably yes, in the end. But there might be some near term hiccups, and there's still a chance of some sort of mega crash, credit freeze etc. 23mins, if you are interested.

[Posted at the SpookyWeather2 blog, October 23, 2024.]