The Demographics That Caused the Debt Crisis

All the major economies are 100% plus of GDP in debt roughly and interest rates have to remain low for this whole thing to function. There's just not enough money for all of what is necessary just to meet the interest payments essentially for both the private sector and the public sector. We're facing a very different economic baseline than before, that's part of the monetary story. The Eurodollar story of the pre-crisis era is that as productivity started to generate real economic growth it led into this belief that we can just do any insanely stupid thing that we want.