expat_panama
Gold Member
- Apr 12, 2011
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Too late.The rot is going to have to be stopped sometime...before the US loses its credit rating, and becomes a third world basketcase like many others.
Can't just keep on borrowing and spending money like there's no tomorrow.
The rating of US debt's already falling (Chinese agency downgrades US credit rating, Fitch signals it could downgrade U.S. credit rating) and unlike previous false warnings this downgrade has the respect of the bond market; in the last few days US T-bill interest rates have begun to soar--
--and America's going to have to face annual interest outlays in excess of a $trillion:
[ame=http://www.youtube.com/watch?v=F-cki8tWbS8]The US Debt: Just Wait Until Interest Rates Return To Normal! We're Screwed - YouTube[/ame]