Greeks Just Say No

I've a serious question, though with not much purpose...

Greece is bankrupt, Spain not far behind. The US is trillions in debt, as is, well, name a country. They're probably in debt, too.

So... who has the monies? It's just one closed system... how can everyone be negative?

Quote: Face

I've a serious question, though with not much purpose...

Greece is bankrupt, Spain not far behind. The US is trillions in debt, as is, well, name a country. They're probably in debt, too.

So... who has the monies? It's just one closed system... how can everyone be negative?

At least for the US of A, I think all the Treasury Bond holders have some of that.

But I wait for some of the deep thinkers to weigh in and clarify. Also, do "future" obligations count as debt on the current books ?

Now, regarding Greece. Economies are built on jobs, mfg, service, or otherwise, right ? So NOW what corporation would want to invest in Greece and create jobs there, which I think is the only way out of their predicament of high unemployment.

Quote: Face

I've a serious question, though with not much purpose...

Greece is bankrupt, Spain not far behind. The US is trillions in debt, as is, well, name a country. They're probably in debt, too.

So... who has the monies? It's just one closed system... how can everyone be negative?

shhhh. Keep going and you will reveal the secret basic vulnerability of capitalism. To simplify it into one concept, you can just say for any bank, any bank, there must never be a run on the bank or it is ruined [without bailout]. The money is simply not there.

The credit default swap fiasco was a similar 'must never happen' scenario.

Gotta Love Google.....

"Everyone The U.S. Government Owes Money To, In One Graph"



BUSINESS INSIDER Article

Quote: odiousgambit

shhhh. Keep going and you will reveal the secret basic vulnerability of capitalism. To simplify it into one concept, you can just say for any bank, any bank, there must never be a run on the bank or it is ruined [without bailout]. The money is simply not there.

The credit default swap fiasco was a similar 'must never happen' scenario.

Quote:

In the shell game, three or more identical containers (which may be cups, shells, bottle caps, or anything else) are placed face-down on a surface. A small ball is placed beneath one of these containers so that it cannot be seen, and they are then shuffled by the operator in plain view. One or more players are invited to bet on which container holds the ball – typically, the operator offers to double the player's stake if they guess correctly. Where the game is played honestly, the operator can win if he shuffles the containers in a way which the player cannot follow.

In practice, however, the shell game is notorious for its use by confidence tricksters who will typically rig the game using sleight of hand to move or hide the ball during play and replace it as required

Quote: odiousgambit

I don't know if we should try to out-do each other with our Reb credentials, but I do know people misuse the term "stars and bars" which I assume you did as well. This does not help your bonafides, sir, but if you are somehow to be given pardon for such misuse of terms I bow to your charitable associates and you may have the last word on the matter.

We should probably not flaunt our 'Reb Credentials', taint that popular most places these days. My 'charitable associates' leaves me clueless but that isn't really unusual and it's getting worse ;-)
Cheers to you Sir!

Other countries have most of our bonds, but most of that comes from their bonds. The people who "have the money" - that is, the ultimate creditors - are by and large private investment funds. After all, if you had a credit card that would advance you cash at 0.3% APR, what would you do?