Federal Doom

[BlasterBates]

http://www.marketoracle.co.uk/Article28200.html

Will the Fed default?

Debt grows and grows, California is already bankrupt.

Seems that Western governments just build up debt until they go bankrupt.

[Old Greg]

They can always print money and pay with that.

[DimPrawn]

They can always print money and pay with that.

Yep.

Gold.

See sig.

HTH

[Old Greg]

Yep.

Gold.

See sig.

HTH

Used to have some gold. Moved into debt, which is a much better bet when inflation hits.

[DimPrawn]

Used to have some gold. Moved into debt, which is a much better bet when inflation hits.

Only if your income is rising with inflation.

[Old Greg]

Only if your income is rising with inflation.

No. Inflation will still wipe out the debt. It just may also wipe out the income, but it would have done that anyway.

[Ignis Fatuus]

http://www.marketoracle.co.uk/Article28200.html

Will the Fed default?

Debt grows and grows, California is already bankrupt.

Seems that Western governments just build up future tax liabilities for their people endlessly.

FTFY

[sasguru]

Looking at this forum it seems that many Western professionals are (1) thick and (2) lazy and nonproductive, since they keep posting absolute tulipe during working hours.
Is it any surprise that most Western economies are bust and living beyond their means?

[DimPrawn]

Looking at this forum it seems that many Western professionals are (1) thick and (2) lazy and nonproductive, since they keep posting absolute tulipe during working hours.
Is it any surprise that most Western economies are bust and living beyond their means?

Don't put yourself down, one of your posts in 2009 was spot on.

[doodab]

Looking at this forum it seems that many Western professionals are (1) thick and (2) lazy and nonproductive, since they keep posting absolute tulipe during working hours.
Is it any surprise that most Western economies are bust and living beyond their means?

An alternative explanation is that due to the miracles of modern technology and progress, and despite our best efforts to make life hard for ourselves, there simply isn't enough actual stuff that needs doing. Hence our time is filled with pointless time filling activities.

The inefficient organisation of society is simply a consequence of evolution and randomness. It's certainly not the fault of a few dozen IT contractors.