A normal person who recieve credit from a financial institution does not dictate or really have any say with regards for what that limit is going to be. It is all dependent on the bank credit risk analysis of the individual which in the recent financial crisis has obviously tightened.
But the government on the other hand actually get to vote to determin what there credit limit is...Hmmmmm. Check out the article http://online.wsj.com/article/SB125270970074004941.html#.
I actually did not know that we had a set debt limit that is voted on in congress. What a bunch of bull shit, like that number really means anything to them.
ThanX for the article. LOL I wish we could bet on an ETF that tracks US debt. Look at that chart.
ReplyDeleteWe're probably going to have to come to the brink of crashing the currency before we see true fiscal and monetary responsibility. What I'm betting is that we continue this trend trying to pump more capital lifeblood into an economy that is imploding under it's own pressure trying to artificially stimulate growth until we force foreign investors to flee the US and go elsewhere with their investments which means there may less opportunities in the near future for everyone.