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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><o:p> </o:p></p><div style='border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b>From:</b> extropy-chat <extropy-chat-bounces@lists.extropy.org> <b>On Behalf Of </b>William Flynn Wallace via extropy-chat<br><b>Subject:</b> Re: [ExI] Even India and Haiti do it better<o:p></o:p></p></div><p class=MsoNormal><o:p> </o:p></p><div><div><p class=MsoNormal><span style='font-size:14.0pt;font-family:"Arial",sans-serif;color:#222222'> That we have failed to balance the budget for decades will mean lenders will not come stampeding to loan the US more money, spike</span><span style='font-size:12.0pt;font-family:"Comic Sans MS";color:black'><o:p></o:p></span></p></div><div><p class=MsoNormal><span style='font-size:12.0pt;font-family:"Comic Sans MS";color:black'><o:p> </o:p></span></p></div><div><p class=MsoNormal><span style='font-size:14.0pt;font-family:"Comic Sans MS";color:#222222'>It has never happened before. Why now? As John pointed out, we have never balanced the budget. bill w</span><o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal><span style='font-size:14.0pt'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt'>Why now: because other countries are having their own financial difficulties for the same reason we are. They may realize two things simultaneously: the US government has set up an enormous Ponzi scheme, causing it to slip ever further into debt, slipping faster with an accelerating rate of acceleration. The second thing: they need their money now. <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt'>When that happens, suddenly the lenders stop lending, and start wanting to borrow. That sends the interest rates thru the roof.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt'>OK. Then what?<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:14.0pt'>spike<o:p></o:p></span></p></div></div></div></body></html>