You think you might have a debt problem? It's nothing compared to the kind of debt the U.S. federal government has racked up. This is really gotten beyond ridiculous. I can't believe we talk about "stimulus packages" and not about "debt packages" which is exactly what they are. I don't know how to put it any more simply: the government has NO money, none, zip, nadda, zelch-- all they have is T-Bonds and a printing press. Foreign countries have to buy our bonds (our debt) in order for us to actually have a "stimulus" package and it seems China will continue to do that-for now- but has shown apprehension in the past. Once China wakes up (which may take years) then there will be no one left to afford our debt. That's when the printing presses start rolling non-stop. This isn't something that "could never happen to the US"... we are not immune to the laws of economics. All one has to do is look at the current situation in Zimbabwe to see the endgame to this inflation game.
Thursday, February 26, 2009
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