If The global economy can recover,

Then maybe someone can explain to me why I can buy debt more cheaply than Greece, Spain, Italy, France, Portugal, Belgium and others can sell SOVEREIGN DEBT?  

I'll make it rhetorical. Because none of those countries can pay their debts.  Neither can the US banks which wrote CDS on almost all of it.  And neither can the US government which is now backstopping the entire world's bad debt – but not for much longer!

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