The debt crisis

[pyesetz]

"China owns so much US debt that the INTEREST INCOME they receive from the Treasury Department is nearly enough to fund their entire military budget."

"In just 11-years, the Ottoman central government went from spending 17% of its tax revenue on interest payments, to spending over 52% of its tax revenue on interest payments. Then came default. Eleven years. The US is at 15% right now. How long will it take for the interest burden to become unbearable?"

— Zero Hedge

On another note: The favourite song of zombies? Supercalifragibrainsaretotallydelicious

Comments

[houseboatonstyx.livejournal.com]

"China owns so much US debt that the INTEREST INCOME they receive from the Treasury Department is nearly enough to fund their entire military budget."

So we default -- and their military crashes. Bwahahaha!