[Kirkland]

[ QUOTE ]
- borrow tons of money from foreigners, issueing bonds
- amount of money is now really big, so tough to repay the debt

-> make dollar lose value rapidly
-> debts to repay are worth nothing if expressed in goods
-> debts worthless

- successfully lived on the cost of others for years

[/ QUOTE ]

Yes, it's all true. Here in the U.S. we have a word for those borrowing countries: suckers.