Sunday, July 31, 2011

Negative Interest Rates!

I know we're all weary... so, so weary. But just in case facts matter to the people you discuss this fiasco with, please take a moment to remind them that right now, the federal government can borrow money at negative interest rates. I know it's hard to wrap your brain around, but it's still true. This is not only not a debt crisis, it's the exact opposite of a debt crisis. Our debt service payments are much lower now than they were back before the debt "exploded" – because Uncle Sam can borrow at negative interest rates!

Under the circumstances, with fourteen million people out of work, it's nuts not to borrow and spend the money necessary to hire back all the teachers, cops, construction workers and others tossed out of work by this zombie austerity movement. Why, oh why are we ruled by such lunatics?

Oh yeah, see previous post.

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