Quote:
Originally Posted by renormalised
Greg, the US economy is on the rocks and taking on water really fast. They're nearly at the point where the debt is as large as their GDP, only a few months off. The moment it reaches that, they'll start to default on their loans and their economy will go into freefall....one they won't be able to buy their way out of. This time.
That price for the AP was probably a bid out of desperation just to get the scope.
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True, their debt is huge. But it is less than many Euro countries and Japan's is 225% of their GDP. Plus the fact the US Dollar is still the global reserve currency means they get their debt for something like 1.5%. If they lose that status and trades are done in a basket of currencies instead of the US Dollar - THEN they would be in big trouble having to pay the usual 6% interest instead and printing semitrailer loads of money when they get in trouble will no longer work.
Quote:
Originally Posted by Waxing_Gibbous
Doubly so as, IIRC, it was originally for sale in the 'Refractor' section for only $12,000!!
I believe the owner is after a Mewlon300 + Mount, which again IIRC doesn't leave much change from $25K!!!
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Interesting. It would have been a good move for someone to pick it up then. Would've saved $3500!
Quote:
Originally Posted by Cloudyagain
It's not on it's way to Aus is it Greg?  |