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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Paul Smith who wrote (441741)	8/21/2011 12:04:11 AM
From: LindyBill	1 Recommendation Respond to of 793927

That is why I think it is foolish to own any long term government debt. We have no way out of more inflation. But "nobody knows" how much and when.

To: Paul Smith who wrote (441741)	8/21/2011 8:26:13 AM
From: skinowski	Respond to of 793927

It all comes down to how you want to define default. With QE1, QE2, and maybe QE3, it seems like we are on the path to paying off our debts with dollars that are worth less than the ones that were borrowed I think Paul we can define default any way we want, but in the end he who does not repay debt in value which was agreed upon is a deadbeat. If this is done knowingly, by design, then there is also an element of thievery involved. Along the way, of course, this process is bound to impoverish anyone who continues to believe in the faith and credit of the government. And those who may not have much of a choice, like the majority of the older folks.