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(The Year 2012 In Review)
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|User Info||Volcker: Raise Taxes Now; entered at 2012-03-16 10:54:38|
Registered: 2007-06-26 It's contained to sub-prime!
I define bankrupt as not being able to pay the interest on the debt owed or pay the debt off at maturity. I don't think that can happen when you can just add a zero.|
Now if you define bankrupt as not being able to buy goods and services on the global market with your currency then sure the US Government could be declared functionally bankrupt and others could refuse its currency for exchange. That could happen. Im still not sure that means the US is bankrupt through. Might it mean I cant buy electronics from China? Sure. Might it mean I starve because Cargill sold all the wheat to another county who was willing to pay using a stable currency? Sure. Bankrupt where they miss an interest payment or are forced to contract the money supply? I dont see it.
Last modified: 2012-03-16 10:55:35 by eighty6thebs