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The real risk isn't the federal government's exploding debt. It's how it is structured that's so dangerous

1 month ago   |   By Fortune

In 2008, eager homebuyers and developers found themselves lured by adjustable-rate mortgages and flooded into the market, creating the housing craze of the mid-2000s. Then came a credit crunch as lenders lost confidence in borrowers' ability to make good. In 2008, the destruction that started with overstretched homeowners and developers walloped the widespread economy.
Now there's a similar danger brewing. But the catalyst isn't reckless consumers. Now it's the U.S. Treasury choosing daredevil financing. And because of the particulars of how the government has structured its debt, this...
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