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It's not an issue. The government will just keep raising the debt ceiling and print more money.
We can go on like this forever..right ?
The U.S. will continue this policy as long as it can avoid international scrutiny of its finances and bad press, which is what Greece is going through right now. However if someone raises a red flag, most certainly the U.S. credit rating could fall fast, causing bond yields to skyrocket, and making borrowing expensive which would exacerbate the debt problem. Sadly, this is the route I feel the U.S. is headed.
The U.S. will continue this policy as long as it can avoid international scrutiny of its finances and bad press, which is what Greece is going through right now. However if someone raises a red flag, most certainly the U.S. credit rating could fall fast, causing bond yields to skyrocket, and making borrowing expensive which would exacerbate the debt problem. Sadly, this is the route I feel the U.S. is headed.
China and Russia are both rattling that cage with a call for a new trading currency. So far the US has been able to hold them off, but for how much longer ?
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