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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (115193)	6/12/2012 11:22:34 AM
From: RetiredNow	Read Replies (1) \| Respond to of 149317

Check out my other post. We only have 3 options to deleverage and get back to good growth: 1) Default on the debt - very painful and will cause a Great Depression 2) Technical default by printing money and paying back with cheaper dollars - spreads pain out over a decade or more, but results in 1-2% lower growth per year with persistent high unemployment and higher inflation 3) Pay it back through massive austerity and spending cuts - also very painful and will cause a short term Great Depression The US has chosen option 2. Europe has so far chosen option 3.