In Google We Trust: Why an internet company can borrow billions for a century

Google CEO Sundar Pichai

Carlos Barria/Reuters

• Google reportedly plans to issue 100-year bonds, following a recent 50-year bond issue.
• The company is borrowing money for far longer than the US government.
• How is that possible? In September, something changed.

This morning, I woke up to a stunning report that Google is gearing up to sell a 100-year bond.

That follows a similar move in early November, when Google issued a 50-year bond.

Investors...