In February the government raised its borrowing ceiling from $75 billion to $200 billion. Last week, Finance Minister Lindsay Tanner said the bleak IMF report highlighted the big revenue gap in Australia’s budget. He said Australia might have to raise its debt ceiling to $300 billion. This is the nice thing about being a sovereign government. A household cannot arbitrarily vote itself the power to go deeper into debt…
April 27th, 2009 | Dan Denning | 9 comments | ContinuedAll Posts Tagged With: "borrow"
Said the Joker to the Thief
And now we face a grim task; for now we have to reckon with the year ahead. Stocks are no longer absurdly over-priced. Nor is oil. Nor is anything else – with one major exception – U.S. Treasury debt. Should you buy stocks…or sell them? Should you buy more gold now…or wait for the first signs of inflation? Is it time to buy the oil producers…or the gold miners? Will the world economy sink into a Japan-like slump…or will the feds cause a Zimbabwe-like catastrophe?…
January 12th, 2009 | Bill Bonner | 1 comment | Continued
Is There No Limit to How Much the Government Can Borrow?
When you can’t beg, borrow or steal the cash to pay your current obligations, you go bankrupt. That’s why the feds stepped in and took control of Fannie and Freddie…
September 15th, 2008 | Bill Bonner | 2 comments | Continued
