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
To: economist-student
"The only solution is either outright default to our foreign obligations or "inflate or die"
Both scenarios mean currency devaluation, so why default? You'd have excessive inflation either way.
To: economist-student
The only solution is either outright default to our foreign obligations or "inflate or die". Why do we have to do either?
25 posted on
03/21/2006 2:48:17 PM PST by
Toddsterpatriot
(Why are protectionists so bad at math?)
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