We Are Looking Down The Barrel Of A Worldwide Credit Market Crisis That Threatens To Be Absolutely Horrific

National governments around the world are collectively more than 100 trillion dollars in debt. - Michael Snyder

• The United States accounts for about 35 percent of that total, 
• China accounts for about 16 percent of that total, and 
• Japan accounts for about 10 percent of that total. 

For a long time, national governments were able to fund their debt binges very cheaply, but now nervous investors are demanding higher interest rates to hold long-term government debt. 

This is driving up borrowing costs, and it has thrown credit markets around the globe into a state of chaos. 

If bond yields continue to rise at a very brisk pace, there is a risk that investors could become so nervous that credit markets actually start freezing up. 

• If that were to happen, the entire global financial system would go completely haywire...