been doing some DYOR
thought this may be of interest ctindale:
http://www.cmavision.com/images/uploads/docs/CMA_Global_Sovereign_Credit_Risk_Report_Q4_2009.pdf
"Both the USA and UK have been among the worst performing sovereign CDS this quarter- the UK is some 77% wider, the USA out by nearly 66%. Concerns are mounting about the increase of debt to GDP ratios in UK and USA, 97% and 75% respectively."
not that what your saying doesn't make sense - just more info. into the mix
btw - Armstrongs latest papers do it for me - and he paints quite a different picture to what many expect once you take in enough of his historical awareness of cycles
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