02/14/2018 - Martin Armstrong: The Sovereign Debt Crisis Is Here
“The Romans never even had a national debt. Today, we have government hawking 100-year bonds. We have pension funds that required 8% returns and then governments ordering that the bulk of such funds if not 100% should be ‘conservative’ and invest in only government bonds. We are reaching a crisis point in longer-dated yields because investors are unwilling to lend money at low rates long-term. Smart money is beginning to wake up to the perpetual mismanagement of the long-term trend by the government. The central banks have been backing off of continually buying government debt and the Fed in the USA has announced it will not reinvest when its holdings of government debt mature .. This is the Sovereign Debt Crisis and Monetary Crises we face in the years ahead.”
