The Federal Debt Tsunami: What to Expect

Fears over government debt sent bond yields skyrocketing 140 percent to months that crashed UK bond prices, which put banks and even major pension funds at risk of bankruptcy. Keep in mind China is also busy bribing countries out of the US dollar, both as part of the BRICS project and with its development banks that lure countries off the greenback. So what happens next? The coming federal debt tsunami would drive up debt interest payments, which are already a trillion a year, and on track to 1.6 trillion even before the latest surprises. At worse, we get a UK style panic with soaring yields and crashing bonds that put yet more banks and even pension funds on the chopping block.