Great follow-up to JVL's emergency Triad. And he is so right, sorry to say. A couple of thoughts:
(1) As Andrew implied, our ability to sustain our enormous national debt has hinged entirely on the rest of the world's willingness to lend us money by buying our debt. They have done that SOLELY due to trust in the American economy and the A…
Great follow-up to JVL's emergency Triad. And he is so right, sorry to say. A couple of thoughts:
(1) As Andrew implied, our ability to sustain our enormous national debt has hinged entirely on the rest of the world's willingness to lend us money by buying our debt. They have done that SOLELY due to trust in the American economy and the American dollar. If that disappears--and if, Heaven forbid, they decide to cash in by selling off our Treasury bonds and bills--well, that Doomsday scenario that Conservatives have predicted for a century may finally, ironically, come to pass.
(2) On the mildly optimistic side, I would point out to JVL that this particular social and economic collapse will have bright red signature lines written all over it in Sharpie. Even the dimmest bulbs will be able to discern the principal authors of their pain prescription. That gives me a lot of hope that Andrew's best-case scenario may actually come to pass. We had better hope that it does indeed work out that way.
Great follow-up to JVL's emergency Triad. And he is so right, sorry to say. A couple of thoughts:
(1) As Andrew implied, our ability to sustain our enormous national debt has hinged entirely on the rest of the world's willingness to lend us money by buying our debt. They have done that SOLELY due to trust in the American economy and the American dollar. If that disappears--and if, Heaven forbid, they decide to cash in by selling off our Treasury bonds and bills--well, that Doomsday scenario that Conservatives have predicted for a century may finally, ironically, come to pass.
(2) On the mildly optimistic side, I would point out to JVL that this particular social and economic collapse will have bright red signature lines written all over it in Sharpie. Even the dimmest bulbs will be able to discern the principal authors of their pain prescription. That gives me a lot of hope that Andrew's best-case scenario may actually come to pass. We had better hope that it does indeed work out that way.