By Steve Belmont, The Daily Reckoning: 11/29/10 Chicago, Illinois – Every time a frightening headline jolts the financial markets, investors flock to the relative “safety” of US Treasury bonds. But just how safe is a “safe” Treasury bond?
The most insidious and dangerous part of the global debt story is hiding in plain sight. US Federal debt is now roughly 85% of American GDP, according to “official” figures. But after including the present value of future liabilities like Social Security and Medicare, US debt-to-GDP soars to nearly 500%.......read on
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