Wednesday, March 3, 2010

Well, at least we have good company

We in the US aren't the only Debt Children in this world. Greece has been in the news as of late, having mortgaged itself with a toxic loan and hidden its transgressions via Goldman Sachs.

Now the UK's ugly teeth are being revealed before our poor eyes. The kicker is that their debt ratio is so massive that the British Pound (GBP) even lost ground against the Zimbabwe dollar. For those not versed in currency talk, that is like losing ground in a running race... to a corpse.

The real money is in Asia now, Debt Children. The lenders are from China and Japan. We are the borrowers.

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