Posted on 03/07/2009 2:46:40 AM PST by 2ndDivisionVet
This will start world war 3. Most US debt is held by foriegn countries. Including some with NUKES. Defaulting on that debt will create the final conflict.
Revaluing the base assets, such as gold, could yield a greater abstract valuation for the paper. The problem with that is they are printing too much. Thank You Congress.
Had to dump the “oldspeak” (truth). They gave me these vouchers for a nice shiny thing... ;)
Yeah -but it is the stupid ignorant public-school educated voters who keep them in office!
Did anyone vote those Ivy League genuises into Wall Street? As long as we’re on the subject, I’m sure most of the Ivy League (& the rest of Academia) go gaga for Obama and the Dems too.
I can’t disagree with not supporting the welfare state or anything else 0 may throw at us, but I think we need to hold off on the drastic measures until the economy gets headed in the right direction.
How can the US not default?
Logically, there is no way the principle can be repaid. The point will soon be reached where the interest on the debt cannot be paid. How long after that occurs will it take for our creditors to openly acknowledge it? When they do, down comes the house of cards. We could see genuine anarchy.
I agree. It’s a bigger house of cards than the banking, lending, mortgage buying house of cards. It is a pyramid scheme.
Dude, (yeah I’m duding you chief, the author not the poster), WE ARE BANKRUPT.
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Is that why I have never seen a Chart of PROFITS drawn as to total DEBT ??
There really are No Profits ? Recall a college prof who hated that question.....
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