This morning has seen a plague of talking-head-based soundbites propagated through the mainstream media as 'fact' and actionable. One that caught our eye, from none other than "largest asset manager in the world" Larry Fink of Blackrock, simply beggared belief:
- *FINK SAYS JAPANESE INVESTORS QUESTIONING INVESTING IN U.S. DEBT
As we recently noted, the Japanese bond market is now dead (for all intent and purpose) but a glance at the following chart of credit reality suggests those Japanese investors might stop to reflect a little on their own reality...
how many have seen this chart showing global sovereign debt as a percentage of total government revenues?
Is there now any doubt after seeing this why the proverbial four
horseman are really just one giant black swan, only not one of failed
bond auctions or something quite as dramatic, but something as simple
and mundane as the smallest uptick higher in rates which would blow up
the entire global financial farce, starting with the most imbalanced
domino of all - the land of the rising sun?... And that at least Greece is not Japan?