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Friday, April 19, 2013

"Debt must be paid back"

Frances Coppola rightly says: "Don't be daft"!
Well, actually, what she says is this:
The reality is that governments do not have to pay all their debt off in one year - in fact most governments pay off little or no debt. What they have to do is service the debt.  
(emphasis added)
I would go further and note that this, in general, applies to corporations as well. Only individuals must pay back debts. (ss. even that last statement is not totally correct !)




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