[ExI] I Miss The King of Extropia
spike66 at att.net
Sun Jul 17 15:43:52 UTC 2016
From: extropy-chat [mailto:extropy-chat-bounces at lists.extropy.org] On Behalf Of John Clark
>…However anybody who claims that his area of expertise is money and yet thinks the government could default on its Treasury Bills without causing a global catastrophe can't be very swift… John K Clark
Is not the global catastrophe caused by default proportional to the size of the debt? If so (I cannot imagine a reason why not) then we should be urging foreign and domestic investors to stop loaning money to the US immediately. Loaning more money is contributing to the magnitude of the global catastrophe.
This is a government which has not only failed to stop deficit spending, it isn’t even trying. So… we need to tell investors the obvious: eventual default is inevitable. All investors are really doing is betting on when it will happen.
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