[thackney]

I don’t understand how that relates to US having deficit spending and Russia cannot.

[elhombrelibre]

I assume no one wants to buy bonds or invest in their debt. Doesn’t that make sense? I know Putin has his Putinista fan club on FReeRepublic, but most people are well aware that Russia’s become a junk bond.

[riverdawg]

“I don’t understand how that relates to US having deficit spending and Russia cannot.”

What interest rate on a ruble-denominated Russian 10-year treasury bond would make you indifferent between buying it and a U.S. Treasury bond of the same duration? Your answer to that question will go a long way towards an understanding of the difference between our situation and the one in Russia.