Today we have another pretty picture which puts them all together. It summarizes perfectly what will be taking place over the next 4 years as the current financial system implodes.
The size of the arrows show the size of the debt burdens, and the colors show which countries have already reached their debt crisis moment (the bond markets have turned against them and their bond yields are rising). The countries in grey will get their turn as they wait in line.
This weekends announcement of no progress from the debt "supercommittee" shows that there is no political will to cut spending and our crisis moment continues to approach by the hour. After crossing $15 trillion in federal debt last week, it is any one's guess what trillion dollar milestone will trigger the bond market to offload our toxic treasuries.
Kyle Bass sat down for another excellent interview this week discussing why he believes Japan is up next:
