Sunshine
Trust the pie.
- Dec 17, 2009
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Then I'm surprised. I used to think Default was a good idea till I saw the economic consequences.and that warms your heart doesn't it?
I'm not on the side of the aisle that wants default.
I like living in an economic super power. Worked for the financial industry for 15 years.
We agree then on some basic points, but I do not think the markets are going to be as kind as you suspect because we have been an economic war for about a decade now. The opportunists will take every chance they get to dance on our stumbling gait to turn us into a corpse and food for whatever plans they have. Much like when the Rock Island went bankrupt in 1979, nobody wanted to take over a fully functional class 1 railroad, but all wanted it piecemealThen I'm surprised. I used to think Default was a good idea till I saw the economic consequences.I'm not on the side of the aisle that wants default.
I like living in an economic super power. Worked for the financial industry for 15 years.
The last "closure" of the government had some "unintended consequences" and that was small compared to what this would do.
The bond market would go nuts..because T-Bills values would drop. Interest rates would go up and the government would start getting charged penalties on some late payments. So the people saying we "spend to much" would be accruing a lot of debt by doing this.
It's frankly very surprising that anyone is flirting with this nonsense. (and yes..yes..Obama once voted against raising the debt ceiling..but it was in no trouble of not being raised)