I've been thinking of doing this for many weeks - a thread to cover all things political and how governments throughout the World have varying opinions on how to screw their own nation and as many others as they can in the process - although they wouldn't admit to the theory as it isn't in their mandate. I have finally been driven to this by the possibility that the USA might default on their debts and that bastion of rectitude, Moody's, has suggested that they may reduce America's credit rating. If there are any economists in our midst, could they please explain why some of the richest nations in the World persist in 'borrowing' money and, more intriguingly, who on earth do they borrow it from? And what is it about governments that stops them from living within their means? This is for starters - I'm sure there will be other topics to cover as they arise.