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To: Moonman62

What are the alternatives?

I’m assuming that we’re past the point of no return, so I only see default, austerity, and hyperinflation as possible outcomes.

Austerity won’t work because the bureaucracy won’t be cut, and tax hikes will drive the economy underground, resulting in a permanent depression.

Inflation would reduce everyone’s wealth, create a barter economy, and a lengthy depression.

Austerity punishes those who trusted the govt to pay its debts. And no one would lend us money again. It seems like the best option.


16 posted on 02/20/2012 9:45:07 AM PST by St_Thomas_Aquinas (Viva Christo Rey!)
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“Austerity “ should be “Default” in last paragraph.


17 posted on 02/20/2012 9:51:29 AM PST by St_Thomas_Aquinas (Viva Christo Rey!)
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