RE: That debt mess is good news or bad news, depending on which side of the eqatuion you are on. The money is not going into a vacuum. The money is going from one group of people to another. As the number of people nearing retirement grows, they want to own more debt to provide for their retirement. When they die, the bonds they own get taxed and inherited.The deal is that the older generation builds houses for the younger adults, and then the older generation retires on the proceeds from the mortgages.It has always been the case that a small minority owns the majority of assets. I haven't read much about the GINI coefficient since the crash, but I suspect things have leveled out quite a bit. China has accumulated a lot of US debt, but it works out to about $1000 per Chinese person. They aren't going to be rich from that. Rate this comment: 0 0

by Danika 01:57:19 AM 2013.03.14