Llove Letters

I am not a betting man but I know a bad bet when I see one. I was intrigued by President Obama’s statement last evening: “For the first time in history, our country’s AAA credit rating would be downgraded, leaving investors around the world to wonder whether the United States is still a good bet.” (Stone, The Daily Beast) The question I asked myself is whether or not I would loan money to a man who is so far in debt that he can’t see light, and wants to borrow more to increase his indebtedness which he couldn’t pay off in several lifetimes. Isn’t the answer obvious? Then, I asked myself if I would…