...a continuing series.
Where are the pundits who called for shorting Treasuries and informed the unwashed masses that a debt crisis was imminent?
Not on this blog, which has consistently pointed out the unique position of the U.S. relative to the rest of the world. Global debt is not a fungible item only differentiated by price and yield. There are massive liquidity and instability risks that ONLY (at the present time) the U.S. can ameliorate.