Its strangely interesting how the US government has never defaulted on its debt obligations. Investors/objective financial analysts say its been twice in history: 1812 and 1979. And predictably (fun as usual), the US government can justify those rare times: 1812, the Treasury was empty, White House was ruined, and even the soldiers fighting the civil war were unpaid. So it was okay not to pay their bondholders. 1979, well, it was just a slight delay...so again the investors had to lose reinvestment income. Were it another country, they would be simply given poor credit ratings. #ItSucks#
Posted on: Tue, 22 Oct 2013 15:31:08 +0000
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