How is the US dollar still the world reserve currency?

Every year or two it seems like the US is running out of money again. Legislative gridlock, combined with spending money like drunken sailors leaves the population wondering whether those in Washington entrusted to govern the United States are really worthy of the honour and the responsibility.

The debt ceiling is coded into the legislation by design. The debt ceiling is designed to force a public legislative dialog about spending responsibly. Some would argue that it’s hardly been an example of responsible spending.

But somehow, The US has raised the debt limit 89 times since 1959. Wait a minute, do you mean to tell me that the US has raised the debt limit 89 times in the past 64 years? Yes, that’s right.

You’ve no doubt heard the expression “fool me one shame on you, fool me twice shame on me.” I’m wondering if there is an expression for when the government fools you 89 times?

Will we through a party when the debt ceiling is raised 100 times?

Somehow, US treasuries are considered the most safe and secure investments in the world. There is no collateral considered as good as US treasuries.


Host: Victor Menasce