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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Haim R. Branisteanu who wrote (9083)7/26/2004 8:13:30 PM
From: mishedlo  Read Replies (2) of 116555
 
Tommaso as long as the FED is providing liquidity - e.g. prints money the debt is sustainable IMHO.

I disagree
1) The debt is only sustainable to the extent that people are willing to take on more
2) The debt is only sustainable to the extent lenders are willing to lend more
3) Debt is only sustainable to the extent that people have jobs in which to pay back something. Without jobs #2 will collapse. #1 could collapse even with jobs.

Mish
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