- Dec 29, 2008
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- #41
The world still buys US Treasuries and consider them the backbone of their portfolios, but there no market for Russian bonds.Let's see, Russia is about 300 billion dollars in debt. We are 33 trillion dollars in debt. Who is destroying what again?
I owe you a dollar.
I will pay you back in 1 million seconds. You will be paid in 11 days.
I will pay you back in 1 billion seconds. You will be paid in 31 years.
I will pay you back in 1 trillion seconds. You will be paid in 31,700. years.
Whose outlook is brighter?
We are flat ass broke. That's one thing. But to borrow money at high interest rates and then just hand it out like it was Halloween candy is just plain nuts.
What do you suppose that means?