[ExI] I Miss The King of Extropia

spike spike66 at att.net
Sun Jul 17 20:13:15 UTC 2016



>… Of John Clark


​>>​…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​



John, US presidents do not control T-bills.  Voters don’t either.  Inevitable default on those treasuries is controlled by economics.  


We recognize that not all debt is bad.  Runaway debt is very bad.  There is no way the US can keep borrowing at the rate it is going without catastrophic default, regardless of who is president.  It isn’t at all clear to me we haven’t already passed the point of no return some time ago.  The US has become so addicted to borrowing and spending, we are openly proclaiming we cannot balance the budget without it, and there is no point in trying. 


I ask who is more irresponsible: those who state the obvious on default, or those who continue to borrow and deny the obvious?







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