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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: mishedlo who wrote (44841)11/6/2005 11:35:50 AM
From: Sunny Jim  Read Replies (1) of 110194
 
I would certainly agree that consumer debt is a real problem, since consumers have to repay that debt when they hit the limit of refinancing it (unlike the federal govt). However, the real real problem may be the unfunded liabilities of the Federal government. While the Federal debt is $8 trillion, the total debt including unfunded liabilities is around $45 trillion. I can assure you there are no unbooked assets to handle those unfunded liabilities, and the debt market will not allow them to be financed with anything short of the worst "developing third world" interest rates.
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