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The World’s Largest Subprime Debtor: The US Government

September 24, 2014 in Economics

By Ryan McMaken

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Mises Daily Wednesday by David Howden:

After the 2008 financial crisis, banks were excoriated for lending sub-prime borrowers money. Now, in many ways, the US government is a huge sub-prime borrower itself, but when the day of reckoning comes, will anyone criticize the Federal Reserve for making the unsustainable debt-fueled spending spree possible?

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Source: MISES INSTITUTE

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