Ontario Immunizations Records

U.S. sovereign default - do not believe your eyes. A series of first

There was mass speculation about the likelihood of default on sovereign debt of the United States. The series, consisting of three blog entries will contain a detailed explanation - Why the probability of it negligible.
Do I need this explanation for the "bedtime stories"?
That we have not discussed the mythical events, false risks childish fears in financial markets, addressing the real issues, which a great deal.
Methodological remarks : In the note as alias (in accordance with statistical practice), the terms federal U.S. debt (Federal Debt), the U.S. national debt (Public Debt), the U.S. sovereign debt. Economic content - the debts of the federal government.
estimate of the probability of default. In the medium term the probability of default disparagingly small. Decision about the default was to be unprofessional, irrational, with no economic justification. The script that implements the default - only in the case of a completely irresponsible and unqualified management team managers (the U.S. administration, monetary authorities in the U.S.) if she did not have No political, economic and financial expertise. The situation for the U.S. impossible.
Arguments:
Argument 1 . Level of sovereign U.S. debt until the is "normal" for the leading industrialized countries (G-7) (Table 1).

Argument 2. dimension of sovereign debt of the United States and other leading industrial countries is largely a consequence of their greater "financial depth» (financial depth) - greater saturation money (monetization of the economy), debt-asset finance instruments ("financialization"), in comparison with other countries. The U.S. and other G-7 countries - including 20% \u200b\u200bof world economies that have the highest monetization, most "penetrated" debts.

The higher the level of economic development, greater financial depth of the country, the greater its ability to attract investment in the economy through debt instruments (loans, bonds, treasury bills, etc.). The higher the level of debt (government, corporate, retail). This confirmed by extensive factual basis in studies of financial development, the World Bank.