> Ray wrote: > Man, what a waste of money. If I managed money the way that our > federal/state goverments do, I would be bankrupt in days. >
Bankruptcy means you'd no longer have the cash to pay your debts and function. You'd go bankrupt because nobody would lend you money. The US is in a similar position and 3 times in 3 months that exact thing has happened. What's different is that the US still has a few dollars under the mattress that it can shuffle. For example, for a little bit in October the US couldn't pay it's obligations. This wasn't because foreigners didn't want to lend us the money, but because those in the US that usually lend money decided to send the money overseas instead - $12 billion worth. That meant the US had to make up the difference somehow and most likely borrowed from social security again. In Sept you had foreigners hesitate to borrow capital to the US and then in October you had US citizens hesitate to borrow the US gov't money. Might be a warning sign, might not be. Whatever it is, both citizens and foreigners have gotten cold feet about borrowing to the US. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Special thanks to the CF Community Suite Silver Sponsor - RUWebby http://www.ruwebby.com Message: http://www.houseoffusion.com/lists.cfm/link=i:5:141101 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
