Corporate debt defaults have surged to the highest level since the last financial crisis , say the latest reports , and the average credit rating for sovereign debt is now lower than at any point in the last recession . This has led some experts to believe the US is in the early stages of a significant financial crisis and the terminal phase of the largest debt crisis the country has ever witnessed .
Corporate debt defaults have surged to the highest level since the last financial crisis, say the latest reports, and the average credit rating for US companies is now lower than at any point in the last recession. This has prompted some experts to suggest the US is in the early stages of a significant financial meltdown and the terminal phase of the largest debt bubble the world has ever witnessed.