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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: goldworldnet who wrote (486050)	5/8/2012 5:54:02 AM
From: unclewest	1 Recommendation Read Replies (2) \| Respond to of 793895

our government does not lack resiliency. I agree. But, other than more borrowing and/or printing, our government does lack cash and that is going to limit available actions and activities . Obama spends money like a drug addict. So long as he can borrow more, he will never accept the fact that we are broke. The vicious borrowing and spending cycle we are in was started by our government. It will last only as long as a market for our bonds exists. That market is drying up imo. I read recently that 60% of the bonds being issued by our government are now being bought by our government, and the reason the bond market is drying up is our interest rates are too low - artificially. We are paying $450 Billion annually in interest now. What happens when interest rates double or quadruple?