Turns out that having a 100% guaranteed return is attractive to a lot of large-scale investors, even if the yields don't make the money machine go brrr.
This is one thing that worries me about the current administration. A lot of trust is built on the fact that the US gov't has never defaulted on a debt in its history. I feel like some people don't place enough weight into what that really means for both ourselves and the world.
It's institutions who are investing on behalf of their elderly clients (for example pension funds and such).
That 100% return is guaranteed by the whip that the government so willingly cracks over the backs of productive young people. Why would it be in the interest of the non-entitled to have a government which keeps swinging that whip? To guarantee the investments of the elderly who only have bottomless hate towards the young?
There is a reason why third world countries choose IMF funding even with the strings attached even though default is always an option. It turns out having credit is very valuable to stability and progress and therefore defaulting is a very bad thing.
The reason being that the ruling class benefits from selling out their subjects to financial vultures?
Being rich in a first world countries is very neat, even great. Being rich in a third world country is like thirteen levels above that. For you and for your family.
