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My 2 cts...
The 2008 US crisis was never resolved, they've merely shifted it from pte hands to public hands. The Fed Reserve still holds us$900b in mortgage backed securities and agency backed debt as of last month. This alone is more than the Fed's total assets in aug2007, before the onset of the crisis.
At it's current debt to GDP levels, 15.8 trillion on a GDP of 15 trillion, the US is pretty much in the same league as some of the eurozone states. Tack on it's Medicare and pension liabilities and the similarities get closer closer. The difference for now is the US has a money printing press whereas the troubled states don't. I don't know when, but I believe the US may prob lose it's reserve currency status in my lifetime.
The 2008 US crisis was never resolved, they've merely shifted it from pte hands to public hands. The Fed Reserve still holds us$900b in mortgage backed securities and agency backed debt as of last month. This alone is more than the Fed's total assets in aug2007, before the onset of the crisis.
At it's current debt to GDP levels, 15.8 trillion on a GDP of 15 trillion, the US is pretty much in the same league as some of the eurozone states. Tack on it's Medicare and pension liabilities and the similarities get closer closer. The difference for now is the US has a money printing press whereas the troubled states don't. I don't know when, but I believe the US may prob lose it's reserve currency status in my lifetime.