<Aha, I think we have stumbled on to the truth … J6P does not want to repay his debt!? Well, in this case, and this is in fact the case, the USD will fall deeply, inevitably, and the world will inexorably sink into a debt depression, possibly triggered by the same protectionism that set off the 1929 event.>
Jay, it is entirely possible that J6P, being profoundly ignorant, could well vote themselves into the biggest financial catalysm ever if they suddenly figure out that they can simply vote their debts away by repudiating the US$. The great and wondrous virtues of democracy, meaning ignorant mob rule, might result in an economic output per capita comparable with India, which has voted itself poor ever since the Poms pulled out, leaving the Ghandis and Karl Marx to run the show.
New Zealand citizens have been voting themselves poor for a long time now, while thinking that they are voting themselves rich by voting to take other people's money.
Mqurice |
