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NEW YORK (AP) - Investors are so nervous they're willing to accept the same return from government debt that they'd get from burying money in a coffee can - zero. The Treasury Department said Tuesday it had sold $30 billion in four-week bills at an interest rate of zero percent, the first time that's happened since the government began issuing the notes in 2001. And when investors traded their T-bills with each other, the yield sometimes went negative. That's how extreme the market anxiety is: Some are willing to give up a little of their money just to park it in a relatively safe place. "No one wants to run the risk of any accidents," said Lou Crandall, chief economist at Wrightson ICAP, a research company that specializes in government finance.
Originally posted by disgustedbyhumanity
Think about it. People are lending the goverment their money with no interest in return. Does that sound like a goverment about to go broke? No. It means that people think the goverment is the safest place for their money.
Originally posted by redled
They'll just take a while to downright the lies. It's noth worthles, but future tax rises for this binge are likely to be quite big, as currency depreciations.
Originally posted by projectvxn
I agree, but herein we will find ourselves in the midst of tax revolts and other such civil unrest. We're being robbed now, and we'll get robbed later, and this is the sort of thing that will cause the break up, or restructuring of the US as a nation. On;y a matter of time now.