Repaying 31.7% of the Sovereign debt in 12 months is rather impossible. Greece is stuck paying around 33% in 3 years (approx, do not have access to my charts where I am right now) and over 50% within 5 years. I have a gut feeling that once the PIIGS get their bailout loan, the attention would then turn to here.
What I see happening is the headline "US Treasury issuing more bonds", until the yield reaches 3-3.5%. The Trillion dollar question is, who will afford to buy these treasuries? China is only buying enough to peg the Yuan low during this global recession so their exports dont plummet. China is diversifying is currency holdings.
I'd love US government to storm into the Federal Reserve to find out what the heck is going on. Negative US economic news comes out, stocks down, yet dollar rises because global countries who don't have money end up buying USD as a safe haven? Doesn't make sense and that is why the gov't should examine this.
On a semi related note: the following article is interesting, but is saying that Total Debt minus Public Debt = Private Debt? If so, Greek private debt is around the mid 20% range. His figures mention Public Debt, but I highly doubt that includes states debt...only federal gov't debt. Let me know what you think if you have a minute.
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