Big numbers probably have little effect on you, post crisis. Once a number is beyond a multiple of one’s own salary or house value, it is beyond comprehension. But $3,335bn? That is how much the US will need to refinance in the next six years from syndicated loans.
Regular blog readers will recall that Spain is facing $200bn maturing syndicated loans in the coming six years, dwarfing what is owed by Greece. That is about a fifth of the country’s annual income. But what is owed by the US is approaching a quarter. Read more