Matthew Yglesias quotes President Obama on the subject of whether or not the U.S. will default on its loans:
“There’s a reason why even in the midst of this economic crisis, you’ve seen actual increases in investment flows here into the United States,” Mr. Obama told reporters. “I think it’s a recognition that the stability not only of our economic system but our political system is extraordinary.”
He added, “Not just the Chinese government, but every investor can have absolute confidence in the soundness of investments in the United States.”
Well.....that depends on the situation. Individuals over here have plenty of money. Some corporations and banks do. But our government doesn't have a pot to piss in or a window to throw it out of.
Ed McMahon is a better investment than the U.S. government.
Bernie Madoff is a better investment than the U.S. government.
Janella Spears, the Oregon woman who lost $400,000.00 to Nigerian email scammers? She's a better investment than the U.S. government.
I've told you people before that if you give us any more money, we're not going to pay it back. We'll default or we'll simply print another batch and give you .25 cent dollars.
So please ignore Mr. Obama's appeals. There are other places to invest with a greater probability of return. North Korea, Cuba, Somalia, Nigeria, Haiti, oh and there's the Sudan and Iraq and Darfur.....