The Welfare State Meets Mathematics
From one of my new favorite blogs- Whiskey and Gunpowder-
"The simple matter is that many nations have been living beyond their means and investors are beginning to doubt governments are good credit risks. That’s saying something, when governments can simply confiscate from the public the money needed to pay bond holders. But debt-to-GDP levels are now so high across the Western world that bond investors (and ratings agencies) are having serious doubts."
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