[ExI] I Miss The King of Extropia
johnkclark at gmail.com
Sun Jul 17 17:27:00 UTC 2016
On Sun, Jul 17, 2016 at 11:43 AM, spike <spike66 at att.net> wrote:
> > I
> s not the global catastrophe caused by default proportional to the size of
> the debt?
No, it would be worse, the loss of wealth would be vastly more than the
19 trillion dollar
s of US debt.
Globally the US treasury bonds are considered the safest debt and the
safest investment in the world, it's not exciting but it's safe.
if Trump is stupid enough to make T bonds worthless then investors will
lose confidence in all debt
and the value of all bonds will collapse and the world economy with it.
And you would be hard pressed to find an economist who would disagree with
what I just said.
> 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.
t's not a global catastrophe
unless a numbskull like Trump decides to break his word and not pay it
back., even just hinting that he might is horribly irresponsible for a
> This is a government which has not only failed to stop deficit spending,
> it isn’t even trying.
Nor should it be. It's odd that Extropians of all people should have this
puritanical belief that all debt is by definition bad. Does anybody doubt
that a dollar today is worth more than a dollar in 20 years?
1835 the US government has run a deficit every year except for
, and those by the way were the Clinton Years.
> we need to tell investors the obvious: eventual default is inevitable.
It's only inevitable if the voters make a moron the president.
John K Clark
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