The amount of borrowing that the ‘West’ – including US and Europe have as of today is scary! The US and Japan will need about 5 and 3 trillion respectively in the next year (2012) – to remain where they are.
Funny that the same countries who were telling the EAST -( in 1997) are in such a bad shape today. Exactly when their economies are slowing down, they will have to raise a LOT of money to stay where they are / where they were!
The US is borrowing at about 3.5%p.a. and Spain is borrowing at 5.7% ! Not sure if all the risks are priced in EVEN at these price levels!
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