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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (212654)12/4/2004 3:27:50 PM
From: RetiredNow  Read Replies (1) of 1573246
 
Do you know what happens to technically insolvent companies? Eventually, banks stop lending to them and they go bankrupt. Most never emerge from bankruptcy and the shareholders lose everything. If the world loses confidence in the U.S.'s credit, they will stop investing in our markets. That will have an incredibly negative cascading effect on our economy: massive inflation as the dollar plummets, loss of liquidity resulting in atrophied investment, massive job loss, sky high rates, and ultimately a great depression.

We simply can't engage in socialism. Every country that has tried socialism on a dollar to person scale as we have engaged in with social security, has been battered by the economic consequences.
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