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Politics : PRESIDENT GEORGE W. BUSH
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To: one_less who wrote (342662)1/13/2003 6:00:30 PM
From: DMaA  Read Replies (2) of 769670
 
Legislating an end to debt would be easy. Pass a law repudiating it. That would be theft and we'd pay an unimaginable price for it, but it would be easy.

Or just debase the currency which would accomplish the same thing and be just as immoral.

I was reading a piece in my Mom-in-Law's New Yorker this week about NYC's past and present debt crises. It quoted an investment banker whose efforts did much to avert the near default from Lindsey's tenure. He said that inflation make his job much easier then and that today's near zero inflation environment made it very difficult to raise money.

********* I PREDICT ********
you can book mark it
****************************

that we will soon be hearing DEMANDS for Treasury and Fed policies that DELIBERATELY INFLATE the money supply in order to "SOLVE" our National, State, Local, Personal debt problems.
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