With the National Debt (figure it deserves capital letters, no?) growing ever higher and the focus of spending and taxing and revenue and the economy so front and center, I have a question.
It’s a stupid question, I know, but may I ask it anyway?
Exactly WHO do we owe all this money to, anyway?
I know that China is one creditor, but there are a host of countries that owe US money, debts that we often have “forgiven” in the past. There are many others whose debts we haven’t officially wiped off the books, but know for certain won’t be mailing us a check anytime soon.
Watch this disturbing video, then come back for my next stupid question:
http://www.youtube.com/watch?v=VtVbUmcQSuk
Ok, you ready?
What would happen if we simply DEFAULTED on this debt and started from scratch? Companies that declare bankruptcy do it all the time, ending up with a stronger balance sheet and a fresh start.
Let’s face it. We cannot POSSIBLY ever pay it back (to whomever we owe it)
Maybe it’s time that the entire world financial community hit the RESET button and start over.
Just a thought.
If you’d like my blog in your box, just let me know: tim.moore@citcomm.com
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