How I Learned to Stop Worrying and Love the Debt Bomb

Sure, I wouldn't run my household finances that way, but I don't have the ability to borrow money from foreigners for thirty years at 4.27%. As usual, Americans got it bass ackwards, they have their panties in an uproar, they have a wild hair up their ass, their right hand doesn't know what their far right hand is doing, they don't know where their children are, they can't see the forest for the trees, etc etc etc. They piss into the wind and complain when it sprinkles their Reeboks, they shit in the river and complain its too polluted to swim in, they are bigger drama queens than Hamlet, and not half as well spoken.

What about our children? We can't leave them all that debt.

Sure we can. We've been doing it for thirty years. If you owe a bank ten grand and you can't pay, you're in trouble. If you owe a bank a million dollars and you can't pay - the bank is in trouble. Old Wall Street adage. Adjust numbers to your heart's content for inflation. Their future monetary hegemony is assured with each incremental increase in the national debt. We are the terrorists, and we have a debt bomb.

The Chinese and other foreigners own so much of our debt. So what. Are those T-Notes, bills, and bonds secured by real property? No, just the full faith and credit of the US government. Was the phrase caveat emptor ever more appropriate? Nobody is being fooled here. If they want a real return of less than 200 basis points for loaning us money that doesn't have to be paid back for thirty years, well, then let them have at it, and let us spend it on Social Security, Education, Medicare, Universal Healthcare, National Public Radio, etc etc etc. The Federal government is not required to balance its budget like the states, and that is its virtue. Unfathomable for a nation that threw itself a back to back stock market and housing bubbles to suddenly behave like pikers.