Pimco on the "Ring of Fire" That Is National Debt (Yes, Even Ours)
Remember, it's front to back, not the other way around
With the fingers wildly pointing across the pond these days, it's easy to forget that we too are in the frying pan (remember, we started this whole mess). Pimco is happy to remind us.
Bloomberg or Business Week or whatever they're called these days:
The U.S., Spain and Greece are among developed nations whose borrowings put them in a “ring of fire” amid sovereign debt concerns, said Pacific Investment Management Co., which runs the world’s biggest bond fund.Holy shit, it's almost as if they have been paying attention to what's actually going on instead of buying into false flags and inflated numbers that make things appear far better than they actually are. Sound investment strategy if you ask me, now GTFO before there's a stampede!
The company is investing in emerging markets that will benefit from high savings rates, the absence of debt bubbles and a greater capacity for government spending, said John Wilson, head of the Australian unit of Newport Beach, California-based Pimco, in an e-mailed statement today. The fund manager is targeting bonds including those in Brazil, Mexico and Russia and retaining holdings of inflation-linked Australian debt, he said.
“While the support declared by European leaders and the International Monetary Fund quelled concerns of sovereign risk spreading, Greece’s ability to refinance near-term debt remains a risk,” said Wilson. “Other developed countries in this ‘ring of fire’ are Ireland, Spain, France, U.S., U.K., Italy, Portugal and Japan.”