Posted 12/07/2012 5:02 pm
The part that interested me was
'Failed currencies and why they crashed' - there is a common thread of explanation here.
If a government overspends and can't pay back, currency inflation is the inevitable result.
The U.S. Government took on a huge amount debt from business, so that business would survive. If those businesses had not been backed by the taxpayer, they would have failed, and the U.S. unemployment rate would have skyrocketed. Despite a great amount of worry, most Americans retained their jobs.
The price to be paid is that the national debt increased from $3 trillion to $14 trillion, and is now higher that that.
Is it possible for the U.S. to pay it's debt back?
A large chunk of the U.S. debt has been bought by China.
If the Chinese economy catches cold, watch out! The rest of the World's economies will suffer from pneumonia.
'Failed currencies and why they crashed' - there is a common thread of explanation here.
If a government overspends and can't pay back, currency inflation is the inevitable result.
The U.S. Government took on a huge amount debt from business, so that business would survive. If those businesses had not been backed by the taxpayer, they would have failed, and the U.S. unemployment rate would have skyrocketed. Despite a great amount of worry, most Americans retained their jobs.
The price to be paid is that the national debt increased from $3 trillion to $14 trillion, and is now higher that that.
Is it possible for the U.S. to pay it's debt back?
A large chunk of the U.S. debt has been bought by China.
If the Chinese economy catches cold, watch out! The rest of the World's economies will suffer from pneumonia.
Edited by sel_69l
12/07/2012 5:18 pm
12/07/2012 5:18 pm
