The psychopaths are in for a real fucking treat, because their asinine myth of the ever-expanding debt is imploding in real-time.
Greece was the first to repudiate its Ponzi debts, but Puerto Rico has already followed suit. Stay tuned for future events. We ain't seen nothing yet. Soon student Ponzi loans will be repudiated, then underwater mortgages from Greenspan's 2007 con job.
The 2008 bailout was predicated upon the all time ludicrous plan of bailing out lenders by giving borrowers ever-more debt. Central Bank psychopaths have been encouraging and sponsoring debt accumulation with ever-lower interest rates. They are the ones paying out the rope on the noose...
NYTimes June 28, 2015
Puerto Rico's Governor Says Island's Debts Are Not Payable
"Hedge funds holding billions of dollars of the island’s bonds at steep discounts are frustrated that the government has not seemed willing to reach a deal to borrow more money from them."
WTF? Yes, you read that right.
It's the same story everywhere - especially Greece, the lenders want the borrowers to borrow more money so everyone can continue to pretend to be solvent through bonus season. Investors are asking to be paid interest with their own fucking money. Ponzi maximum. A hedge fund being a call option with someone else's money. Heads I win, tails you lose.
China is the locus of Ponzi
Their municipal debt issuance last month equaled all of 2014, now that's some good Ponzi right there...
Chinese stocks with Chinese GDP growth (From World Bank)
We live in a society FULL of Bernie Madoffs and it's the borrowers who are finally saying enough already. Because the lenders know that not everyone is getting paid back.