Quote:
Originally Posted by bkkandrew  Quote:
Originally Posted by Butterfly Quote: |
Originally Posted by bkkandrew “There was certainly a supply/demand imbalance because of the large amount of issuance in the last quarter of 2008 and the large amount due in the coming months. Before the financial crisis, German bond auctions just did not fail.” | you forgot to highlight that part, the likely scenario. Of course, you probably don't understand what that means. | It means exactly what my point was, so there was no need to highlight it. THERE IS TOO MUCH DEBT TO FUND.
Is that bold/clear enough for you now? |
Correct, BKK Andrew,
Too much debt, and too much in obligations (entitlements) that are promised to be paid out as IOUs.
I put an article in the Social Security thread about Obama's statement today.
Medicare and SS, national debt, and the interest payments.
I do not see a way out of this for the USA.
It's going to be painful, to say the least.