Feb 082010
The credit bubble that built up between 2001 and 2007 is still smoldering under the surface of a mounting pile of debt. US GDP returns from each $1 of new debt has plummeted.
Will the US lose its credit rating?
Will the US default or monetize the debt?
Does this matter, given that the US is still probably safer than most sovereigns around the world?
Can all sovereigns fail at the same time?
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