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Politics : View from the Center and Left
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To: TimF who wrote (15881)4/4/2006 12:48:16 PM
From: Dale Baker  Read Replies (1) of 541915
 
The Japanese aren't buying office buildings, they are buying Treasury bonds that have to be paid back with something when they mature. Do you think we can offer them some excess commercial property instead, say about $500-600 billion worth?

This mentality that taking on endless amounts of new debt obligations represents a normal or desirable state of affairs has become very bizarre. No other example of financing current consumption with long-term debt ad infinitum is ever held up as virtuous, not that I can think of.

So why this one?
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