Oil prices have climbed above $120 a barrel, partly in response to the loss of exports from Libya as rebels confront government forces
Dylan Grice, Global Strategist, Société Générale
Western government bonds are more dangerous than they look
To understand the risks we face, it’s important to understand that developed world governments are insolvent. Jagadeesh Gokhale, at the Cato institute, estimates that unfunded health and social security obligations in the EU are equivalent to well over 400 per cent of GDP. Larry Kotlikoff of Boston University, using data from the Congressional Budget Office, estimates the US shortfall at…
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