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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: mishedlo who wrote (19350)10/3/2004 9:03:07 PM
From: Wyätt Gwyön  Read Replies (2) of 110194
 
the problem with that theory is that there are liabilities which MUST be paid--those of the governments to their constituents, who will otherwise revolt or starve in the street by the millions when their Social Security checks bounce. USG is in the hole to the tune of around $60 trillion, all-in. eventually everybody will get reamed--taxpayers, "beneficial creditors" (i.e., everybody expecting a government retirement handout and health care), and "monetary creditors (i.e., public debtholders, who will get paid back in dollars depleted by inflation).

To inflate it away is to say that greenspan won.

to say that it CAN'T be inflated away is to say that fiat currencies are indestructable. that's unlikely, imo. after all, "all things must pass", especially worthless confetti. obviously the only thing that has kept USD going is support by Asian mercantilists. but they all have their own monetary problems on the horizon so their ability to contribute to the USD survival fund is quite limited.
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