The US debt to GDP ratio is not as nasty as it looks. Not counting money owed to itself, Uncle owes “only” $8.6 trln… or less than 60% of GDP.
As someone who was born at the ass-end of the baby-boom, the money in reality, is owed to me and millions more like me down the road when we file to collect social security and medicare…that’s when things will get really interesting.
On the markets, EUR/USD is trading only a dozen pips or so above New York lows. Stocks are quite volatile, trading up marginally with just over an hour left to trade…
