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| Re: Boehner walks away, gives up on debt negotiations with Obama (814539) | |||
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Re: Boehner walks away, gives up on debt negotiations with Obama |
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Posted by SMAZ on Fri Jul 22 22:06:50 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by Chris R16/R2730 on Fri Jul 22 20:08:48 2011. Great.We can pay the Chinese and do away with the military, the courts, border enforcement, payments to nursing homes, civil aviation, embassies, payments to schools and everything else. Sounds like a good plan. Let's do it. I shall stand on record here as actually being in favor of a brief default. Our AAA rating has no basis in reality and is based on the past, rather than current and future conditions and the make-up of our legislative process. It's the equivalent of AAA-rated subprime-backed securities circa 2007. Anybody in the know knew they were shit. All that rating does is grossly distort the true functioning of global markets and finance by assigning an ultrasafe rating that is really an AA or AA- at best (like Italy's). Pretty good but not great. I know people that who know about this stuff like CharlesG and Dave will disagree with me and perhaps even call me crazy because of the catastrophic consequences, but truth be told, I'm the last true believer in capitalism and free markets on this board and current global conditions needs a big cleanup. There are myriad ways to protect yourself against the cataclysm of sovereign default. Greece needs to do it too. (A REAL default). Iceland emerged from it and is borrowing on open markets and reasonable rates. Greece is digging itself deeper into a hole. So Charles, Dave whaddya think? |
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