10 trillion dollars divided by over 300 million people?
32-34,000 dollars per person?
That's a lot of mullah owed.
America owes 10 trillion dollars to?...
A large chunk of that debt is owed to
Middle Eastern, oil-rich countries.
53 percent of that debt is owed to China and Japan.
Scary thought! What if those nations want America to
"pay up"?...
What is America prepared to give up to pay its debt?
Grand Coulee Dam?
Cape Canaveral?
The Sears Tower in Chicago?
All of its oil refineries and drilling rigs?
All of its steel mills?
Wall Street?
All of its coal mines?
Those things combined and offered in a perverse version of the mother of all debt auctions would only pay off a fraction of that debt.
If the US Mint were to pump out greenbacks 24/7
for the Feds to print their way out of the problem
may conceivably work, but America might be hit by hyperinflation
so bad that it would make Germany's 1923 "wheelbarrows full
of Deutschmarks for bread" version look tame by comparison.
Current Events » in reply to "Paulson: Foreign banks can use U.S. rescue plan", not just the plan but the money.
What is it now? A 10 trillion dollar American debt?
