Posted Jan 7, 2016 by Martin Armstrong
We warned that 2015.75 was the turning point to the start of BIG BANG. As we now have entered the down wave on the Economic Confidence Model, things will begin to heat up.
I have warned that our current crisis in 2016 has been created by the total mismanagement of government by politicians. This year will mark the beginning of the problem of governments NEVER paying off debt. Instead, they roll it and add to it year after year. Well, 2016 will mark an outrageous roll as the equivalent of nearly half of the USA’s national debt has to be refunded. Major economies need to raise about $7.1 trillion U.S. dollars to refinance debt. Germany alone has around €203 billion euros of new debt that it has to sell, which is a considerable challenge in view of the fragile global economy. Welcome to BIG BANG.
Tags: Big Bang, Sovereign Debt Crisis