The UK's "silent" fiscal collapse: While everyone was busy watching the US and Japan, the UK's fiscal picture is collapsing. Debt has exposed to £2.7 trillion (96% of GDP), yields are higher than the US and Greece, and interest payments alone set to hit £111 billion. Interest now accounts for £1 in every £12 the UK Government spends. The worst part? Rate cuts are not helping.(The Kobeissi Letter)