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> Japan is sitting on a ton of debt which they have no
> chance of ever paying back....unless they devalue
> and pay back with funny money. . Debt is now 130% of GDP.
According to http://www.bea.doc.gov/bea/newsrel/gdp499a.htm and the
Debt Clock at http://www.brillig.com/debt_clock/, the US GDP for 1999
was $9.2 trillion and the debt is ""only"" $5.6 trillion. So our
debt is ""only"" 61% of GDP. Hey, heave a sigh of relief and pile on
some more pork and deficit spending!
> Has everyone forgotten how the markets disciplined Sweden
> for relying too heavily on debt-financing to continue their
> welfare state utopia? Has everyone forgotten what happened
> to Canada and their similarly socialist agenda? The markets
> can be ever so cruel to air-heads.
How long until the US is included that list of air-heads, I wonder?
Gary
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