Taken at face-value this Morgan Stanley chart (published June 2011) is intriguing, to say the least.
Even though nominal US debt continues to rise, US total debt-to-GDP is deleveraging. ie: it's becoming more sustainable... Conversely, the Eurozone's in a little more trouble. There are, however, signs of a more subtle decline in Europe's debt ratio too.
Nevertheless, it's ABUNDANTLY clear that the smart short-medium money is positioning itself away from the euro...
Even though nominal US debt continues to rise, US total debt-to-GDP is deleveraging. ie: it's becoming more sustainable... Conversely, the Eurozone's in a little more trouble. There are, however, signs of a more subtle decline in Europe's debt ratio too.
Nevertheless, it's ABUNDANTLY clear that the smart short-medium money is positioning itself away from the euro...
No comments:
Post a Comment