Quote:
Originally Posted by tabs
Good Sound Fiscal Policy.
There is an old saying. Owe a little and the bank owns you, owe the bank alot and you own them.
I can think of 9 Trillion reasons why nobody wants the US $$$ to fail. Whoa onto the $$$$ if the EURO should become the reserve currency..it will become worthless. That would result in complete economic chaos and the world would be plunged into a depression that nobody alive today would see the end of.
Somebody has gotta pay for the USA military adventures. The price of living in a stable world has got to cost the world something..so now the true value of the debt has been readjusted downwards with the falling $$$.
When someone has bad credit the interest rate goes up. So why is it only 4.75% for the 30 year bond...In the early 80s its was 16% interest.
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Damn good post! Yet most who read that will gloss it over and go right back to their thinking that debt for a country is just like the payment on their car. ..that
money in the bank is always preferred to debt. --people like 'simple.'