This Not So Amazing World

Everywhere, from Egypt to Greece, from Paris to Washington D.C., politicians stand with a blank look on their faces wondering why you will not drop cash into their risky government bonds otherwise known as sovereign debt.  Yes, Barack Obama knows he has a strong hand in attracting what funds are available, as American debt is still seen as a safer haven, but those words (“safer haven”) sting nation once proud that it ruled commerce and the economic world.

There has been significant change however, as corporations and individuals who generate cash that must either be held, reinvested, or converted to some other form of capital are increasingly walking away from sovereign debt.  This is especially true of debt created by states such as California, including many local municipalities within California.

The slide has begun.  The global economy has made the most significant change that has ever been seen in modern time.

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