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Sky-high debt debacle

THE EU/IMF axis has put together an emergency fund of €700bn to lend to Portugal, Ireland, Greece and Spain, collectively know as “the PIGS”.

Apparently, the best way to cure indebtedness is to borrow even more money.

Yet the USA has a budget deficit of $14 trillion dollars and nobody is worried.

So, what is a trillion anyway?

Looked at in monetary terms, he largest single dollar note is the $1,000 bill. If you put enough of them, one on top of the other, amounting to one trillion dollars, it would be 67.9 miles high.

Everything is relative so we obviously have little to worry about in Ireland.

John Mallon




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