By Shamus Cooke
"Having spent a fortune bailing out their banks, Western governments [U.S. and Europe] will have to pay a price in terms of higher taxes to meet the interest on that debt. In the case of countries (like Britain and America) that have trade as well as budget deficits, those higher taxes will be needed to meet the claims of foreign creditors." (May 23, 2009).
"Bond traders surfed the global liquidity wave, buying up government debt all over the world in the view that, just as most big banks were too big to fail, so were sovereign economies, no matter how crushing their fiscal picture." (December 14, 2009).
"The only question is, is it before or after a bond market crisis? Because there's no alternative.” (Rueters, November 14, 2010).