The Bloomberg Accounting & Twilight Zone Theorem

[America owes so much money to her lenders that, these lenders can't possibly stop loaning funds to U.S. According to Bloomberg, borrowing an unlimited suppy of money, isn't pragmatic for individuals or familes. But somehow the same mathmatical formula that confers outright lunacy on a micro level, seems to somehow, mysteriously morph into a complex, but feasible 'solution' for our governmenton {on a macro level}.]:

“We are spending money we don’t have,” Mr. Bloomberg explained. “It’s not like your household. In your household, people are saying, ‘Oh, you can’t spend money you don’t have.’ That is true for your household because nobody is going to lend you an infinite amount of money. When it comes to the United States federal government, people do seem willing to lend us an infinite amount of money. … Our debt is so big and so many people own it that it’s preposterous to think that they would stop selling us more. It’s the old story: If you owe the bank $50,000, you got a problem. If you owe the bank $50 million, they got a problem. And that’s a problem for the lenders. They can’t stop lending us more money.”

Article: http://politicker.com/2013/03/mayor-bloomberg-dont-panic-about-the-sequester/

No comments yet.

Leave a Reply

Leave your opinion here. Please be nice. Your Email address will be kept private.