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

To: Snowshoe who wrote (72905)	3/18/2010 10:17:39 AM
From: Maurice Winn	1 Recommendation Read Replies (1) \| Respond to of 74559

Snow, that's how revolutions are made. But apart from revolution, governments are not like regular commercial enterprises. They are their own law. If the public doesn't want to pay, they simply vote for extermination of pensioners. When the pensioners are no longer alive, there's no pension to pay. Admittedly that's an extreme solution, but such a final solution is perfectly legal. Anything is legal if defined to be so. Slavery was legal. Executing homosexuals for existence is legal. Cannibalism was legal and very popular. Burnings at the stake were compulsory. Serfom, a form of slavery, is still legal, and compulsory. Human populations remain chattels of the state and are forcibly deprived of property they create. To eat they must work and when they work they are taxed and the money given to the spivs, bludgers, kleptocrats, politicians, enforcers and their acolytes. If states abrogate their debts, they don't have to pay higher interest rates, they can pay lower interest rates. The risk has gone when previous creditors are wiped out. New lenders have got a much more secure loan portfolio so of course the interest rate will be less than with the previous high risk loans. How much interest would you require to lend your pension savings to Greece right now? What about when they write off their debts, are debt free and have converted their pensioners to sausage and have fired 95% of their state employees? <It's pretty hard for a government to default on pension debts unless it files for bankruptcy, which has all sorts of serious ramifications like paying higher interest rates for borrowed money. > There's no need to file. And don't worry about those judges - they will be looking for jobs more suited to their talents such as greeting customers at Subway. The best answer is, of course, Tradable Citizenships. Then incentives are right. Mqurice