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"Let's keep this really simple. Since the financial crisis, how much more dollar-denominated debt is out there in the world." That was Rick Santelli on CNBC an
by fitzwatermellow 11y ago
"Let's keep this really simple. Since the financial crisis, how much more dollar-denominated debt is out there in the world."
That was Rick Santelli on CNBC an hour ago. Here's the video:
http://video.cnbc.com/gallery/?video=3000422916 http://video.cnbc.com/gallery/?video=3000422916
As the global economy slows, borrowers will cease to earn enough to service their debts. And the amounts are astronomical: $57T new debt at 17% debt-to-GDP ratios.
Link to McKinsey GI report on "Debt and (not much) deleveraging":
http://www.mckinsey.com/insights/economic_studies/debt_and_not_much_deleveraging http://www.mckinsey.com/insights/economic_studies/debt_and_n...