Ok , The U.S. has a quadrillion quadzillion $$ of debt

UndertheOcean

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Sat Oct-17-09 09:39 AM
Original message

Ok , The U.S. has a quadrillion quadzillion $$ of debt

Edited on Sat Oct-17-09 09:40 AM by UndertheOcean

But , explain this to this Economics novice :

With the US having the biggest and strongest military in the World .... how will the World collect ?

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Statistical

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Sat Oct-17-09 10:00 AM
Response to Original message

1. Because we will keep making payments.

If you think the US is a "has been" nation just wait until if/when we default on federal debt obligagtions.

Remember about half of the debt is owed to SS so you can image what that will do. Also virtually every single pension, retirement account, 401K has at least some exposure to T-bills.

Other countries have defaulted on their debt. Interest rates in those countries are also much much higher.

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UndertheOcean

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Sat Oct-17-09 10:06 AM
Response to Original message

2. Ok , I was just asking a question , why would anyone unrec , or even rec this ???

people !

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