Thread: Sovereign Debt Fears Signal New Stage Global Financial Crisi

Sovereign Debt Fears Signal New Stage of Global Financial Crisis

Economics / Global Debt Crisis Feb 07, 2010 - 02:43 AM
By: Global_Research

Barry Grey writes: Stock markets in Europe and Asia fell sharply Friday in the second day of a near-panic selloff fueled by fears that the debt crisis facing weaker European economies will throw the world economy into a “double-dipâ€

The collapse of the asset bubble began a long time ago. There were no assets, but only debt and continually printing money to meet that debt, which means the underlying debt obligations and their interest payments are worth less and less daily.
For countries relying on us as the biggest consumer in the world, they are not going to fall for buying more of our debt when they see the US consumer, the underlying basis of our and the world economy, sinking into the mud.