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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (72880)	3/18/2010 3:57:41 AM
From: Maurice Winn	1 Recommendation Read Replies (1) \| Respond to of 74559

Snow, the good answer is to default on government debts such as those to state and ex state employees. Simply ditch the pensions and fire nearly all the staff. The government spivs had a great time while in the trough - easy, featherbedded lifestyles while "working". < given the tough times we're in there has to be lots of pain, belt tightening, and austerity > We are agreed there. There's no reason youngsters just starting work now should pay for debts incurred by those who went before. Simply abrogate the debt. A similar situation happened in Iraq. Creditors whined like a fleet of Koreans when Saddam's Iraqi debts were obviously not going to be repaid to foreign creditors. Bad luck for them. They shouldn't have made loans to Saddam's government. Mqurice