Kyle Bass Discussing Greece Default

Oct 16, 2011
J. Webster
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The now famous Kyle Bass, based mainly upon him being featured in Michael Lewis’s new book Boomerang, talks about Greece and Europe on CNBC’s strategy sessions.

Bass lays out what’s likely next for Greece and the steps the European Union is going to take to attempt to solve the global debt crisis. Bass, the Hayman Capital Management managing partner, sits down with David Faber at the Barefoot Economic Summit.

The kicker: The global credit market debt — sovereign debt, consumer debt and corporate debt — from 2002 to 2011, has gone from $80 trillion to $200 trillion, Bass stressed. “It’s grown at 12 percent a year [while] real GDP globally has grown at 4 percent per year,” which won’t work for very long.

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