CHICAGO—The $787 billion in debt overhang that the federal government absorbed from the failed banking sector from the 2008 credit crisis will not come due until 2020, or perhaps later. But at that point in time, when the piper finally pays his dues, “We [the U.S.] are going to become an emerging market,” predicted Rudolph Riad-Younes, head of international equities at Artio Global Investors, New York.
“All we are doing is postponing a bad day for someone in the future,” agreed Steve Romick, partner, FPA, Los Angeles.
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