The Grand Banana Republic’s debt situation

Posted: October 8, 2010 in Current events
Tags: ,

“…The US will Default on its Debt … either that or experience hyperinflation. There is simply no other option. We can NEVER pay off our debts. To do so would require every US family to pay $31,000 a year for 75 years. Bear in mind, I’m completely ignoring the debt we took on with the nationalization of Fannie and Freddie, AIG, and the slew of other garbage we nationalized or shifted onto the Fed’s balance sheet. And yet we’re STILL talking about every US family making $31,000 in debt payments per year for 75 years to pay off our national debt. Obviously that ain’t going to happen… Here (Zero Hedge).

Related: “On the brink”

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