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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (201238)	9/12/2012 10:10:37 PM
From: Wharf Rat	Read Replies (2) \| Respond to of 541851

I'm with him, but we don't forfeit until we have to, which is not today or tomorrow or next decade. By then, no country will have money to lend us anyway, and, good luck trying to collect it. Only the numbers need to be changed to protect the innocent. "If you owe the bank $1000, the bank owns you. But if you owe the bank $1,000,000, you own the bank." If you own the printing press, who cares about the bank, anyway? " You do realize that the safety nets that we now have and are financing with foreign dollars also goes away ..........don't you?" Nah; we mostly borrow from ourselves for that. We finance the wars with that foreign money. Be a shame for that to go away. :>) Just a matter of obtaining the proper perspective on things.

To: Steve Lokness who wrote (201238)	9/14/2012 3:27:52 PM
From: Cogito	Respond to of 541851

You do realize that the safety nets that we now have and are financing with foreign dollars also goes away ..........don't you? You realize that the bulk of our national debt is held by Americans, don't you? But I'm not arguing for defaulting on our debts, precisely because it would hurt Americans too much. The other points you made about it may or may not be valid. Creditors forget after a while. Credit ratings are easy to destroy, and harder to build. But it's not impossible to fix a credit rating, either. It just takes time and consistent effort.