Paper promises. IOU's.
The 30-year US Treasury bond yield is now higher than the interest rate on a 30-year home mortgage.
SO?
The average American mortgage-holder is a better credit risk than the US Government.
WHY?
The average American mortgage-holder is genuinely trying to repay his debt.
The US Government isn't.
Thursday, 9 December 2010
You bet your...........from Rico
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