Greenspan: No Chance of Default, US Can Print Money

[dyna mo]

if i could go back in time, 1st trip would be to go back and shoot ayn rand in the face before she ever started writing.

"The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default" said Greenspan on NBC's Meet the Press

http://www.cnbc.com/id/44051683

[dyna mo]

more downgrades from s&p coming manana

On Monday, we will issue separate releases concerning affected ratings in the funds, government-related entities, financial institutions, insurance, public finance, and structured finance sectors.

http://www.ft.com/intl/cms/af2c4fac-...144feabdc0.pdf

[woj]

printing $$ is actually equivalent to defaulting, except in a slower more subtle way...

[$5 submissions]

Didn't Greenspan distance himself eventually from Ayn Rand's ideas?

[Barry-xlovecam]

Devaluation by proxy ...

[IllTestYourGirls]

We are fucked.

[dyna mo]

Didn't Greenspan distance himself eventually from Ayn Rand's ideas?

you could be right but as far as i know not as of the last time i was current on him, which was maybe a couple years ago or so. damage was done though, imo. it's mind boggling to me to base economic policy on non-fiction.