[ExI] Repudiating the national debt
danust2012 at gmail.com
Wed May 18 02:05:31 UTC 2016
On Tue, May 17, 2016 at 6:50 PM, John Clark <johnkclark at gmail.com> wrote:
> On Tue, May 17, 2016 Rafal Smigrodzki <rafal.smigrodzki at gmail.com> wrote:
>>> What do you think would be likely to happen if the US national debt were
>>> repudiated? What are likely good and bad outcomes? Do you think John's
>>> sort of meltdown scenario is likely?
>> ### The most prominent outcome in my mind would be the US Govt losing
> the ability to continue mortgaging our future to feed today's parasites.
> would not be bad.I could imagine the following: Patriots are,
> elected to high offices in sufficient numbers to effect a repudiation of
> national debt. Rather than trying to suck life out of the flesh of our
> maintain the cancerous growth in Washington, they would rather let the
> monstrosity wither. They would refuse to increase taxes to cover the
> expenses, they would slash the budget by 80%
> Budget? Taxes? What are on earth you talking about? You've refused to pay
> the debt, US government treasury bonds are now worthless so money no
> longer exists and there is nothing to tax. Well OK maybe you could reduce
> the cans of beans or number of dead squirrels or whatever is used to
> money by 80% in the Mad Max world that would follow such a economic
> catastrophe, but there would be no patriots elected to high offices
> there would be no high offices, or low offices, or government, or
> much of anything that makes life worth living.
What do you think the odds are of your horror scenario not coming about?
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