A Post Only An Accountant Could Love

[ThePilgrim]

The U.S. debt prOBlem explained.  Like the title intimates, if you ain't into budget prOBlem this won't interest you.

 

[Invicta]

The whole world monetary system is built on an illusion.  It is built on trust, and when the trust goes, the system will crash. Smoke and mirrors.  

 

Reminds me of a line from an old cockney song.

 

With a mirror and some glasses, you could see to 'ackney marshes if it wasn't for the 'ouses in between. 

[John81]

It's a house of cards. The value of money is rather arbitrarily set and based upon nothing but promises to pay and a nations potential economic output. If China called in America's debt, dumped all their American debt on the market, or even simply refused to loan America any more money the American economic system would collapse. This would devastate the economies of nations around the world. All with one word from China.