To: Joiseydude
Red Alert's author, whose books "The Obama Nation" and "Unfit for Command" have topped the New York Times best-sellers list, said just as Hannan warned Brown "you have run out of our money," Merkel intends for Obama to hear the same admonition from her next week. It will happen...soon. One day America will try to sell debt and no one will buy it. Then the Treasury is in default as it can not pay it bills. That leaves only these hard options:
1. Cut spending to match tax revenue. About a 33% haircut.
2. Default on bonds. Interest rates skyrocket.
3. Try ti resell bonds. Interest rate skyrocket
4. Have the FED print money to buy the bonds. The dollar becomes worthless.
4 posted on
04/26/2009 5:50:45 PM PDT by
2banana
(My common ground with terrorists - they want to die for islam and we want to kill them)
To: 2banana
>1. Cut spending to match tax revenue. About a 33% haircut.
2. Default on bonds. Interest rates skyrocket.
3. Try ti resell bonds. Interest rate skyrocket
4. Have the FED print money to buy the bonds. The dollar becomes worthless.
Problem is, those are not either/or scenarios. - They can all happen at the same time. - easily
6 posted on
04/26/2009 5:58:01 PM PDT by
bill1952
(Power is an illusion created between those with power - and those without)
To: 2banana
8 posted on
04/26/2009 6:09:23 PM PDT by
gunner03
To: 2banana
Option 1 will NEVER happen. I pick option 4. The easy way out.
To: 2banana
4. Have the FED print money to buy the bonds. The dollar becomes worthless.
This is the more likely and in the end, the often mentioned 95% of taxpayers who “won’t see a cent in tax increases” will be dead broke and economically dead and the rich 5% will still be rich, having taken steps to offset what is coming. Obama will have effectively destroyed the economy of the United States. Congratulations Zero, you sure are making fools of all who didn’t believe in you. And you sure got even with all those rich folk. At least it might be race neutral. Blacks and whites both will be devastated.
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