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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First, where's this old saying come from? George Bailey? Seems to me if you owe the bank a little, no one owns you. If you owe the bank a lot, the bank owns all of your collateral. You must take Mr. Potter for a fool.
And if no one has alerted you yet, let me be the first to say that the U.S. has become a more DESTABILIZING entity via military adventures than a stabilizing one. those Cold War days are over my friend when we protected the world from the threat of communism.
There's enough economic growth in other parts of the world where U.S. consumption and debt are becoming less important in supporting the world economy.
Choose to ignore that at your own peril.