The danger of borrowing hundreds of billions of dollars from overseas...

[kentuck]

From China, Saudi Arabia, and other countries that may not have the best interest of America at heart. It was reported a couple of days ago that we were two hours from collapse back in September. There was going to be an electronic "run" on the banks for more than $550 billion dollars. The banks could not cover it. It was panic time.

What did we expect when we borrowed all this money to fight the wars and give taxcuts to our wealthiest citizens and corporations? There is a lesson to be learned. I think this near-economic collapse was connected to this borrowing of trillions of dollars as much as anything else. Any other thoughts on this massive borrowing?

[AngryAmish]

1. When the US government borrows money to loans can't be called in

There can't be a "run" on US government loans.

T-Bills are bonds redeemable in US dollars over a set period of time. They can't call them in early.

They can refuse to buy, but that would be hugely inflationary.