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Politics : Formerly About Advanced Micro Devices

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To: bentway who wrote (695871)	1/29/2013 3:13:39 AM
From: i-node	Read Replies (2) of 1572531

>> “People like me have been saying for five years, don’t worry about these deficit things for the time being, they’re a non-issue,” Krugman observed. “Other people have been saying, ‘Imminent crisis, imminent crisis!’ How many times do they have to be wrong and do people like me have to be right before people start to believe this?” This man is a damned fool. If all the debt we had was $16 Trillion that would be plenty bad. But the actual total is closer to $100 Trillion. While the collapse may not be (likely isn't) just around the corner, it is coming and the more debt we pile on the tougher it will be. I'm not sure how big an idiot you have to be to not be able to see this. It isn't around the corner because the US can probably keep borrowing for a while. But it is within the next 10 or 20 years, and could happen at any instant. The primary thing propping us up at this point is that lenders don't want to declare their debt worthless, so they'll keep lending to us for a long time. It is a house of cards. The critical point, however, is that Krugman and other idiots grossly misunderstand the amount of debt (or call them "obligations" if you wish) we are facing.

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