Junk debt is blowing up. And there's a lot at stake. Try $3.57 Trillion in junk debt issued in the past 3 years alone -- which dwarfs the measly $1.3 Trillion total of subprime mortgage loans accumulated by 2007.
If you'll recall, the "turmoiling" in subprime in 2008 nearly brought down world finance and the world economy. Global trade came to a standstill. Now the amount at stake, in the US alone is 3 times worse.
|The Gross Issuance of Junk Rated Debt Since 2012 Dwarfs Subprime Debt in 2007|
|Junk Bond Rates Already At Crisis Levels|