"Unfortunately, the young socialists are uninterested in truths. Not when the goal of hard work and paying one’s way in life has been reduced to a game for suckers. Not when apathy and a life on the dole is filled with such hollow promise."
The roadmap that has been in place for the US economy for the last year is almost certainly going to continue. That means a recessionary or stagflationary state is coming.
"Under our distressed exchange criteria, and in particular for 'B-' rated entities, the extension of the maturities of the short-term debt with no compensation constitutes a default."
"... if nominal growth is 3 percent and the debt GDP ratio is 300 percent, the implied equilibrium nominal rates is around 1 percent. This is because at 1% rates, 100% of GDP growth is necessary to service interest costs."
