Discussion in 'Financial Cents' started by Clyde, Feb 2, 2011.
How bad is this? FT.com / Markets - Fed passes China in Treasury holdings
Wouldn't let me read without registering. What does it mean? We owe ourselves and can repudiate the debt, thus owe nothing for spending money we didn't have (and borrowed) in the first place? Hm. Looks like a clear violation of the Second Law of Thermodynamics if not common sense. If that works, we can reverse our refrigerators and put oil and coal back in the ground.
We are so screwed. Here comes the Crunch baby.
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