[Principled]

Nobody but an idiot would loan them money now.

Now?

Nobody but an idiot ever would - in the last 10 years.

I guess the idiots who did just weren't sufficiently educated in common sense to know that you can't consistently overspend and avoid running out of money.

[expat2]

They figured that their CDS insurance would kick in and save their a$$es, but the banks that sold them the insurance aren’t about to pay off unless dragged kicking and screaming to it.

[Nervous Tick]

>> I guess the idiots who did just weren’t sufficiently educated in common sense to know that you can’t consistently overspend and avoid running out of money.

What, then, do you think explains the fact that people all over the world loan US money by the trillions per year?