May 17, 2011

Big Louie and the Violin Kid

Rick McKee, 5/15/11:
Investors don't care at all about debt ceilings -- the US is the only major country that even has one. What they don't like is the thought of a possible default, which is what would happen if the ceiling isn't raised.

Oh, and that thuggish character? That's you, and me, and the Chinese government, and some sovereign wealth funds, and several million other random people and institutions -- T-bills are the most widely held financial instrument on the planet.

Also, on the other side of this cartoon's metaphor, loan sharks love people that don't pay off their debts, keep running them higher, and keep making payments. Those are the very best customers.

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Please remember that the purpose of Editorial Explanations is to explain and to expand knowledge, rather than to engage in any partisan bickering. All cartoonists are completely correct, in their own worlds.