Monday, March 05, 2012

Public Debts and Deficits: US is one of the worst

Look for the US, top right corner, just south of (bankrupt) Ireland and somewhat west of (bankrupt) Greece.  The only saving grace is that we owe money exclusively in our own currency.  That way we can screw all of the debt holders with a swingeing inflation.  The rub is that inflation doesn't do anything about the real problem:  unfunded future liabilities - which rise in lock step with inflation.  But in the interim, our alternative is going to the policy choice of Banana Republics and Presidents for Life everywhere.  All hail our Maximum Lider Senor Baracka Obamio!  Down with the Yanqui's!  Wait, that can't be right....

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