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I don't know what to say here. You've been following this all along, and only now are starting to get it? It doesn't bother me that people don't understand this; there are lots of things I don't understand. What bothers me is that, despite the most extreme degree of ignorance possible, these same people see nothing wrong with throwing their opinions around on these subjects. Krugman's "Slap-in-the-face," the repeated statements that the debt was undervalued at current market prices -- they read this stuff, obviously didn't understand what it meant, and then went out and started typing anyway. And other people took them seriously. And all of them consider themselves smart, some kind of elite. I don't see how this is any different than wingnuts talking about subjects they don't bother to educate themselves on beyond listening to whatever Rush tells them. At least they did listen.