Free Republic
Browse · Search
General/Chat
Topics · Post Article

To: montanajoe
Defaulting on the US debt is madness

But we're not going to default on the debt. You don't really still believe that, do you?

as the dollar sinks the price of oil increases

Correct. Making it even more profitable to drill here.

as well as interest on the all ready existing US debt

No. Interest rates on existing debt remain the same. New debt? That's a different story.

Look. The dollar has been overvalued for decades. That, combined with eternal inflation, is what has led to our chronic trade deficit. It's cheaper to buy foreign goods than to make them here.

Now, I wish we weren't in the crisis that is causing the dollar to drop and there are certainly bad aspects to it, but it isn't a disaster, either. Though it will certainly be portrayed that way.

6 posted on 07/29/2011 4:50:51 AM PDT by BfloGuy (There is no remedy for the inefficiency of public management. -- L. Von Mises)
[ Post Reply | Private Reply | To 4 | View Replies ]


To: BfloGuy

As I say its madness I also know its impossible to reason with the insane...;)

I have no confidence in our so called leaders of both parties nor in the idiots that keep electing them..


7 posted on 07/29/2011 7:33:18 AM PDT by montanajoe
[ Post Reply | Private Reply | To 6 | View Replies ]

Free Republic
Browse · Search
General/Chat
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson