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guess what, country is no private citizen. it isn't even a family or a company, so pictures like this are deeply flawed:

https://fbcdn-sphotos-a.akamaihd.net/hphotos-ak-ash4/318450_...

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Exactly. There's no global police force that comes to foreclose on your country when your debt hits a certain level. What happens is that when people have doubts about your ability to pay your debts on time (relative to other investment options,) you have to pay a higher interest rate.

But in the case of US debt, the opposite seems to be true: http://4.bp.blogspot.com/-iFxt2vNk2y0/TZNxgTINNEI/AAAAAAAAAW...

When Moody's downgraded the US credit rating, the response was a rush to, not a flight from government bonds.

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