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The debt crisis
Aug. 29th, 2012 07:49 pm"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
"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
