Comments

1

Anything about a currency collapse or runaway inflation due to a renunciation of the US debt thus the world's lost faith in the dollar? Fed confiscation of gold? 90% tax rates in order for the Fed to afford foreign trade? All four of those are just about guaranteed, I get that it probably feels better to worry about the other things...

3

@2 Just about guaranteed. Or are we going to cautiously work to pay it down? How, austerity budgets? Which president is going to sign up to be the least popular person in history? Maybe we won't actively renounce the debt, we'll just ignore it. However that will be hard to do when it gets into the $30 trillion neighborhood. We'll be happy with a 1% growth because if it wasn't for debt interest payments it would have been 6%! Why wouldn't they take your gold? It will be one of the few things other countries will accept as payment. They did this in 1933. They'll do it again. Since you are an oldwhiteguy, I am sure you remember it being illegal to own until the early '70s. You do say brutal price so I assume you're not an MMT, but what do you think the brutal price will be? Eventually QE won't keep the wolves from the door. Think it through.


Please wait...

Comments are closed.

Commenting on this item is available only to members of the site. You can sign in here or create an account here.


Add a comment
Preview

By posting this comment, you are agreeing to our Terms of Use.