McKinsey Explains Why Markets Are Tanking: Western Governments Amassed Debts Of $9.4Trillion

alifarabia | August 12, 2011 | Slider | No Comments

Don’t blame Standard & Poor’s for the market meltdown, or the Tea Party for its guerrilla tactics, or even U.S. President Barack Obama for his ineffectual negotiations with the Republican-led Congress.

S&P was merely the messenger - no matter how misguided it may have been - and the Tea Party jingoism mere symptoms of a greater underlying crisis in the western world.

The market jitters are a reflection of a major global government debt crisis. There is a reason why investors are fearful of sovereign debt from France, Greece, Ireland, Spain, Portugal and the United States of America. READ MORE HERE

OR WATCH THIS CHART SLIDE: McKinsey Explains Why Western Markets Are Tanking

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