Obvious answer seems like sovereign debt but I think they can kick that can for awhile longer. Maybe it's consumer credit. Seems like consumers are drowning in credit to continue to finance their lifestyles now. Unless the Fed is bailing them all out, it can't end well.
Obvious answer seems like sovereign debt
"The market can stay irrational longer than you can stay solvent." That always comes to mind when people talk about the debt being unsustainable. It is, but also it's not paid off for those who bet on it.
Consumer credit seems possible, especially with rates spiking.
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There’s always a 0% apr rollover offer to keep the consumer credit carnival humming along.
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