Apocalypse now?

Via Menzies House:

The world’s banks face a $3.6 trillion “wall of maturing debt” in the next two years and must compete with debt-laden governments to secure financing, the IMF (has) warned.

Japan and the United States face the largest public debt rollovers of any advanced economy at 56 percent and 29 percent of gross domestic product, respectively. . . .

So between the World’s banks, USA and Japan, we’re looking at a staggering figure of $10.533 Trillion or $10,533,000,000,000 to refinance.

Too get an idea just how big a number that really is, instead of cash owed think of the number in seconds. 10.533 Trillion Seconds = 333,999.24 years or 3,339.99 Centuries.

It will probably take them that long to pay it off. Like I said, it is a staggering amount of cash owed.

Keep reading…

HT: Gramfan