Re: When the green back printers next hit full speed to print the US administration out of the debt, then we still have the Euro left as a US dollar alternative.
As Nobel Prize P. Krugman would put it: it's GDP growth, stupid! The US will not print its way out of debt... instead, it'll grow its way out of debt:
Message 26454151
Actually, it's the eurozone that's recklessly printing money to clean up its mountain of junk debts! The ECB, under the helm of French Jean-Claude Trichet, has printed zillions of euros to buy Greek, Portuguese, etc. treasury bonds. Of course, officially, the ECB expects to get its money back in the future --when Greek, Portuguese,... governments will be able to reimburse the ECB. Chances are, however, that these PIGS bonds will never be paid back, resulting in a ballooning/inflating monetary mass....
Gus |
