Here’s a thought-provoking and sobering interiew with Kyle Bass. He talks about the consequences of “kicking the can down the road,” and the potential ramifications of sovereign default — and many other things, such as the fact that the nations collectively have the largest accumulation of debt in world history.
He also talks about how Europe is in a much worse position than the US, although the EU leaders seem to be in denial of this fact.
Pretty sharp guy if you’re not familiar with him. If you have any questions about the fundamentals backing the bear case, then watch this interview.
Embedding is disabled on this video, so all I can post is the link. (Thanks to KWave for the link!)