The USA and Chin have the highest debt in the world but i don’t understand the concept of them being some of the wealthiest countries, does that debt need paying off? How do they get this debt? Ultimately it just doesn’t make sense to me.
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If you had to lend 5k to someone would you loan it to the guy who puts his car up for collatoral, or your room mates friend Jake, who swears he’s good for it. Jake may be a good guy and fully intend to pay you back but the car is far safer collateral.
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