Since 1821, 98% of countries that hit 130% debt/GDP have defaulted on their sovereign debt. The US crossed 130% late last year. Govt monetary policy is no longer sustainable.
Since 1800, 51 out of 52 countries with gross government debt greater than 130% have defaulted on their commitments, either through restructuring, devaluation, high inflation or outright default. Japan is the only example of a country avoiding default despite having government debt greater than 130% of GDP, and Japan didnt solve their problems but rather…
Read more