First facts: QE 2, the buying of federal debt ends this month and the US Treasury Bond market will lose its largest purchaser and the Chinese are not going to step in. Link 1
Question 1. When bond buyers disappear, must bond rates be raised?
Question 2. When US bonds rates go up, what happens to NY State Bond rates?
Question 3. Will Congress save $200 billion a year with no effect on beneficiaries by going to Medicaid block grants in September? link 2
Fact: Neither Greece nor Italy can print money, because they have the euro and NY is not allowed to print money. Question 4. What's the difference between Greece or Italy and NY State when both spend more than they can pay back? link 3 link 4
Question 8. What interest rate will be charged NY State with the highest debt per person?
Question 9. Where will Cuomo get the $47 billion dollars to cover NY Medicaid excesses? link 5
The Laws of Gravity or The Laws of Economics in the end are always obeyed. You reap what you sow and the Piper must in the end be paid.
Who'll lend this money, which we can't pay back, Andrew?