What do you get when you owe a lot of people money today, tomorrow, and forever into the future but cannot repay it with tax revenues from today, tomorrow, and forever into the future?
Answer: Greece, Portugal, Ireland, Italy, Spain, Japan, and the US.
Charles Biderman is the Chief Executive Officer of TrimTabs Investment Research and Portfolio Manager of the TrimTabs Float Shrink ETF (TTFS).
Source: http://trimtabs.com/blog/2012/02/21/bidermans-daily-edge-2122012-buyers-of-worthless-debt-keep-government-afloat/
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