The entire financial system is broke, EconMatters is downgrading the entire global credit rating to junk status since none of the rating`s agencies are doing their job right now, as governments all around the world have coerced them into not properly rating each country`s true debt condition and rating.
Look at how much each country (government) and central bank has levered up with doubling, quintupling, and in China`s case increasing their credit bubble by a factor of 30 times the pre financial crisis levels. The identifying markers of the coming debt Armageddon and global financial market crash are starting to surface and nobody is paying attention right now because markets are at all-time highs and everyone is high on the giddiness of their asset portfolios like cocaine bosses in columbia before the inevitable Reckoning Day.
The entire pension system, bond market, stock market, central bank balance sheet and government debt system is on the verge of systemic default, and is a fragile Ponzi scheme right before the withdrawals start coming in, and the whole charade collapses in on itself.
The entire global financial system is built on fraud, i.e., flawed and unrealistic assumptions that under no circumstances were rational, logical or financially sound policies. The entire global financial system is broke, and nobody is paying attention - this is the real big short!
