They say a picture is worth a thousand words, well, the following chart gives us a stunning glimpse of the cultural correlations between a country’s extensive debt and the economic potency of its male population. Take a look at the debtor countries of the European Union and the percentage of their men who remain at home with Mommy.
CDS stands for Credit Default Swap and it’s a form of insurance where the seller of the swap agrees to compensate the buyer in the event of a loan default. As you can see from the chart, almost 60% of Greek men between the ages of 25 – 34 are still safely anchored at the loving bosom of their Manoulas. And as we all know, Greece is on the verge of economic collapse. And take a gander at Spain, Italy, and Portugal’s place on the Mama’s Boy index….the pattern is blatantly obvious.
The index was developed by Boaz Weinstein, former Managing Director of Deutsche Bank and currently the CEO of Saba Capital Management.