Question of the Day

Question of the day: Can you solve a debt crisis by piling on more debt?

Well, that’s not my impression, but the world is definitely giving it a go. 

As is to be expected, governments are breaking all the records in terms of debt issuance as they raise funds to battle their respective recessions. But the pace of corporate debt issuance, adding to a record level of existing debt, is utterly breathtaking.

Corporations globally have issued $1.25 trillion worth of bonds year-to-date. That’s $400 billion more than the previous year-to-this-date record:  Click to enlarge…

H/T Cameron Crise



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