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Joseph Wang & William White: Mammoth Interest Rate Hikes Are Causing Trouble In Sovereign Debt
Forward Guidance
Is QE Really a Government Financing Solution?
Sovereign debt levels are very high. Most of that debt has been picked up by the central banks, he says. As interest rates go up and worsen the debt servicing problem, you get into a "Sergeant Wallace world," S&P warns. The dynamics of how this inflation thing plays out is really unprecedented as far as I can tell,. But it is something that I think people are worried about more than private sector debts.
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