US Has an 'Enormous' Debt Problem: ECB Official

No, Nooooooo....

The details are important. More than 50% of US debt is owned by Americans. On the other hand, most of the EU debt is owned by a few oligarchs.

The ECB official was trying to divert attention from the obvious fact that the EU is rapidly going down the drain.

 

All the US has to worry about in that event is that pensioners will lose their pensions in the US instead of another country, when the debtor defaults.

 

I'm no oil expert, but this seems unrealistically low...

 

In theory, no country with a money printer and a reseve currency will ever default. So why pensioners will lose their money? They can lose purchasing power but never their money.

I think a lot of people have been confused with the EU problems. There nations cannot issue their own currency. US can devalue, and it will, the US dollar until it owes nothing. The PIIGS cannot do that unless they default first and go back to national currencies.

 

The level of printing they would have to do is enormous. The loss of purchasing power is huge too.

 

US Has an 'Enormous' Debt Problem

I'm shocked.:eek:

 

Yes it is called Barrack Obama.

 

And what was it called before Obama was heard of? Oh, hmmm...I can't even remember that moron's name.

 

Built a lot of McMansions in the US, and blew up a lot of other people's shit, all over the world.

That's about it.

 

We need some people today who had the guts the hippies had. But, we don't have them, apparently.