4 ms·
more like paying off one credit card with another that has higher APR. Next big crisis might be a sovereign debt crisis on a global scale. The only question is
by readhn 8y ago
more like paying off one credit card with another that has higher APR.
Next big crisis might be a sovereign debt crisis on a global scale. The only question is how long this can continue...until SHTF.
- unit91 8y agoSadly, if world history is any guide, the problem will be "solved" on the battlefield.
- amsheehan 8y agoI don't think you read it correctly. What we're doing, indeed what we've done since 2008, was borrow at a historically low interest rate to pay back interest and debt bought at a higher interest rate.
- ebikelaw 8y agoThe USA enjoys a unique position with respect to sovereign debt, since it is denominated in our own currency. Also, a great deal of it is owed to ourselves and it has always been the plan of political parties to just stiff future generations. Debt crises might happen but probably not the biggest problem faced by USA. It is odd to focus on borrowing when our country faces numerous acute problems at the moment.