Bill Bonner View the original article. March 10, 2010 02:15 PM The private sector ruined itself in the bubble of ’03-’07. Now, it’s the public sector’s turn. All over the developed world – with a few exceptions – the feds are adding debt at an alarming rate. The US has already passed “the point of no return,” says a report from Casey Research. Ken Rogoff and Carmen Reinhart put that point where external debt passes 73% of GDP or 239% of exports. IMF data, says the Casey team, shows the US has already gone too far on both scores, with external debt at 96% of GDP and 748% of exports. We’re in Mumbai, India, checking in with one of our ‘strategic partners.’ In our family office, where we keep the family money, we take big bets over long periods of time…working with strategic partners who are knowledgeable about key sectors. Last year, we missed the rally in US stocks. But we’re lucky in our choice of friends and business partners. Two of our strategic partners – one in the resou...