So we can be proud of our $18 TRILLION debt, since we are among the “safest”. (sarc) But in fact we are fast approaching the point where we won’t be able to service that debt.
The supremacy of finance capital over all other forms of capital means the predominance of the rentier and of the financial oligarchy; it means that a small number of financially “powerful” states stand out among all the rest. The extent to which this process is going on may be judged from the statistics on emissions, i.e., the issue of all kinds of securities.
A monopoly, once it is formed and controls thousands of millions, inevitably penetrates into every sphere of public life, regardless of the form of government and all other “details”.
V.I. Lenin
https://www.marxists.org/archive/lenin/works/1916/imp-hsc/ch03.htm
6. But the grand nostrum will be a public debt.
7. It must not be forgotten that the members of the legislative body are to have a deep stake in the game.
11. As soon as sufficient progress in the intended change shall have been made, and the public mind duly prepared according to the rules already laid down, it will be proper to venture on another and a bolder step toward a removal of the constitutional landmarks.
Freneau - Rules
http://www.constitution.org/cmt/freneau/republic2monarchy.htm
The US rate is only low because the companies offering these swaps know that if the US defaults, it will be the US taxpayer that gets hit and not the companies offering these swaps.