Morgan Stanley: US default is inevitable.
Investors will face defaults on government bonds given the burden of aging populations and the difficulty of securing more tax revenue, according to Morgan Stanley.
“Governments will impose a loss on some of their stakeholders,” Arnaud Mares, an executive director at Morgan Stanley in London, wrote in a research report today. “The question is not whether they will renege on their promises, but rather upon which of their promises they will renege, and what form this default will take.” The sovereign-debt crisis is global “and it is not over,” the report said.
Borrowing costs for so-called peripheral euro-region nations such as Greece and Ireland surged today, resuming their ascent on concern...
The choice for voters in this year's fierce fight for congressional control will come down to a single question: Which political party -- Democrats or Republicans -- will do a better job coping with crippling unemployment and a devastating deficit?
To Democrats, the answer is obvious. Just look at the recent record. Bill Clinton took the White House at a time of financial turmoil and during the course of his eight years in office steered the nation to sharply lower unemployment while turning deep deficits into budget surpluses.
Liberals believe the good times ended abruptly with George W. Bush, who turned...
I hope what you wrote makes sense to you, because it made only minimal sense (if that much) to the rest of us.
I can clarify one thing for you. Most economists use one measure for the national debt; the total. Our current national debt is over 13 trillion dollars and growing. The smaller, more manageable, figure that is used is the annual deficit.
The deficit as a percentage of GDP is also growing. It is four times greater under Obama than it was during any year of the Bush 43 Administration.