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Saturday, July 16, 2011 3:28:52 AM
CHART OF THE DAY: "The Most Important Chart In The World Right Now"
Joe Weisenthal | Jul. 15, 2011, 9:52 AM
Want to understand why the world is going through sovereign debt gyrations that threaten to plunge the global economy into a new crisis?
Tracy Alloway has snagged a fantastic chart from a new BIS report, which she calls "the most important chart in the world right now."
Basically, it looks at total issuance of AAA-rated credit by year. You can see there are twin peaks: First in 2005 and 2006, during the worst of the housing-related excess, when garbage was repackaged into AAA, and then following that AAA-rated issuance peaked again when governments bailed out the financial sector.
So now... well, you know what's going on these days.
Joe Weisenthal | Jul. 15, 2011, 9:52 AM
Want to understand why the world is going through sovereign debt gyrations that threaten to plunge the global economy into a new crisis?
Tracy Alloway has snagged a fantastic chart from a new BIS report, which she calls "the most important chart in the world right now."
Basically, it looks at total issuance of AAA-rated credit by year. You can see there are twin peaks: First in 2005 and 2006, during the worst of the housing-related excess, when garbage was repackaged into AAA, and then following that AAA-rated issuance peaked again when governments bailed out the financial sector.
So now... well, you know what's going on these days.
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