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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link=blue vlink=purple style='word-wrap:break-word'><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>…</b>> <b>On Behalf Of </b>William Flynn Wallace via extropy-chat<br><b>Subject:</b> Re: [ExI] quote of the day<o:p></o:p></p></div><p class=MsoNormal><o:p> </o:p></p><div><div><p class=MsoNormal><span style='font-size:18.0pt;font-family:"Comic Sans MS"'>>…<span style='color:black'>Spike! I am astonished. This one was easy: credit. Using other people's money. bill </span>w<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:18.0pt;font-family:"Comic Sans MS"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:18.0pt;font-family:"Comic Sans MS"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:18.0pt;font-family:"Comic Sans MS"'>Billw, the whole notion of credit, of borrowing and lending, is soon to blow up in our faces I fear. The US government has been spending way beyond its means for generations, to the point where it doesn’t even know how to live within its means. The government is an insatiable borrower, offering ever greater returns, which are illusory. Eventually the lenders stop lending, for the borrower becomes too risky. Then what?<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:18.0pt;font-family:"Comic Sans MS"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:18.0pt;font-family:"Comic Sans MS"'>Ours is the generation left holding the bag. Post modern monetary theory is coming, and with it, the brutal realization that debt matters, and size really does matter.<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:18.0pt;font-family:"Comic Sans MS"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:18.0pt;font-family:"Comic Sans MS"'>spike<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:18.0pt;font-family:"Comic Sans MS"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:18.0pt;font-family:"Comic Sans MS"'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:18.0pt;font-family:"Comic Sans MS"'><o:p> </o:p></span></p></div></div></div></body></html>