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Politics : THE WHITE HOUSE -- Ignore unavailable to you. Want to Upgrade?

To: goldworldnet who wrote (10826)11/14/2007 5:01:00 PM
From: pompsander  Respond to of 25737
 
"Probably the most dangerous thing about our debt situation is that many of our creditors don't like us much."

And being a creditor gives one the ability to exercise rights literally or to forebear from requring the debtor to take action otherwise required...or to agree to renegotiation, restructure, whatever.

The debtor, on the other hand, can only threaten to default. This can be a powerful tool unless the sheer threat itself causes so much more damage to the debtor that it can't be exercised.

Unless you want to be Argentina or Botswana.



To: goldworldnet who wrote (10826)11/14/2007 5:02:23 PM
From: longnshort  Read Replies (2) | Respond to of 25737
 
so what would they do? sell their(US) bonds, driving the bond prices way down and we can buy the debt back at pennies on the dollar ?



To: goldworldnet who wrote (10826)11/14/2007 5:27:08 PM
From: DuckTapeSunroof  Respond to of 25737
 
I agree.

Still --- whether folks in other countries 'like us' or not... I expect they will usually-to-always ACT IN THEIR OWN FINANCIAL INTEREST.

(No one is gonna 'roll over' 'cause they 'like us'.)


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