To: economist-student
They are, and so are we. An economy based entirely on cheap debt is unsustainable. We are stuck between a housing bubble and rising energy costs and the clock is ticking.
15 posted on
03/21/2006 1:45:56 PM PST by
ARCADIA
(Abuse of power comes as no surprise)
To: ARCADIA
The only solution is either outright default to our foreign obligations or "inflate or die". The former will have huge short-term implications while the latter will have even greater long-term implications such as continually declining living standards and capital misallocation
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