The Barbarian Invasion of Europe

[Australia Sucks]

That's a curious suggestion. Possible. Bankruptcy, no. But bond holders (lots of old rich people) eating shit? Yes, that's going to happen.

Bonds are toxic indeed. Very few individuals directly own bonds these days but certain people are unknowingly owning these toxic bonds through their pensions plans etc. No investor these days that is completely self directed and manages their own money is dumb enough to buy long term government bonds.