Is America Bankrupt?

Life in Russia

The yield on the U.S. ten-year treasury dipped below 1.40% this morning, the lowest in recorded history. Why does money continue to flow into this perceived “safe haven?” Is America really financially stronger than the rest of the world or are we bankrupt? To illustrate, allow me to introduce, “The Satirical World of Bob.”

When-Countries-Go-Bankrupt

Bob was an articulate, charismatic guy with a decent paying job. He did, however, possess a penchant for the good life and was motivated enough to do whatever it took to achieve it. When his first credit card application arrived in the mail – along with the normal circulars and other advertisements – he quickly grabbed a pen, filled it out and sent it in. Within two weeks, Bob had received his first plastic money machine. Machine I say, because in Bob’s mind, a credit card was like creating money out of thin air. Shortly thereafter…

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