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dyna mo

08-07-2011 05:08 PM

Greenspan: No Chance of Default, US Can Print Money

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.

Quote:

"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

08-07-2011 05:15 PM

more downgrades from s&p coming manana

Quote:

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	08-07-2011 05:19 PM

printing $$ is actually equivalent to defaulting, except in a slower more subtle way...:2 cents:

$5 submissions

08-07-2011 06:09 PM

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

Barry-xlovecam

08-07-2011 06:10 PM

Devaluation by proxy ...

IllTestYourGirls

08-07-2011 06:13 PM

We are fucked.

dyna mo

08-07-2011 06:18 PM

Quote:

Originally Posted by $5 submissions (Post 18338298)

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.

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