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Comments

JSmith

One wonders what the effect would be if the US decided to just default on its debt and walk away like a banana republica. Latin American nations use that technique all the time - most recently and notably, Argentina.

Elaine Supkis

WWIII will be fun if we were hunkering to be cockroaches.

Elaine Supkis

Freudian slip. 'Hankering'...I was visualizing a bunker there.

Cato

Mr. Smith,
Your wrong. Argentina under Alfonsin and Menem were forced to take on IMF and World Bank loans as part of its "free market" makeover. The privatization mantra from M. Friedman and others said: sell your public resources to the private sector (Ford, Chase Manhattan, Citibank, IBM) and everything will be fine. pay off the loans that way.

Ultimately, Argentina also took on the debt of various multi-nationals that were effectively bankrupt, as well as, bailouts for private firm "entrepreneurs". In the end, the public paid for it all - and still are.

ArdVan

Maybe the powers know something we don't know. They really behave as if they don't have to pay back, for whatever they do:

Are comets coming?

http://www.youtube.com/watch?v=_CnGRnz9Fi4

Elaine Supkis

Argentina made a deal with China. The IMF is no longer their banker. China got what it wanted, by the way [more markets, of course].

DeVaul

I think a better comparison would be to that of the former Soviet Union. We are not a banana republic, even if we behave like one. We are an empire with a huge army and lots of weapons and foreign bases, just like the Soviet Union was.

What happened to them was not pretty, and I had a friend working in the Baltic States during this time for the US government. She told me all kinds of horror stories, mostly involving various Russian criminal organizations that instantly took over everything.

My guess is that our bankruptcy will portend a huge rise in crime, both organized and unorganized.

Teddy

In a startling revelation yesterday, presidential candidate Dennis Kucinich said he saw a UFO over the house of actor Shirley MacLaine. I know that Elaine and I both like his vision of the future along with his ideas and plans if elected, but I think Elaine will part company with his "vision" over Shirley's house.

blues

I've never seen a UFO. But I do know they're out there. So I will write in Kucinich, regardless of whom the "Democratic" party decides to take head from.

Elaine Supkis

Where do you think the guys running things here came from? They are reptilian aliens a la Scientologists....hehehe. They joined the Republican party because it sounded like 'reptilian party.'

Canuck

Elaine that's so Icke!

Now were getting somewhere :)

http://www.davidicke.com

Elaine Supkis

I mean, look at Cheney's eyes. Or Bush's slit tongue. Or Condi's Pharonic hairdo!

Katya

Are comets coming?

http://www.youtube.com/watch?v=_CnGRnz9Fi4

Posted by: ArdVan | November 02, 2007 at 12:48 PM

I have been wondering about something like this for awhile. How could "they" be so rotten and short sighted? Do "they" know that there is no real tomorrow? Rape, pillage, and be merry...

There have been a couple of comments on Roubini to the effect that the U.S. stock market already crashed. The Plunge Protection Team hacked the computers and all the numbers we see are fake. The thing is that I could almost believe it. Truth has been giving fiction a real run for its money.

Elaine Supkis

I suppose that is the next step. They certainly are pushing all the lies they possibly can.

Bokonon

The tragicomedy of politics, Dennis would be more credible if he had said he seen 2 angels over Oprah's house than he said he had seen something he could not explain over Shirley Mclaine's house.

MIKE

but platimum at 1200 when gold was 250 because you were Forced to buy it for your anti=polution catalytic converters

Elaine Supkis

True, platimum went right through the roof during the big auto years. Still is up there, of course. Smart people bought it back in the mid-1980's.

mannfm11

You are missing something here. The US has its debt in US dollars. I hope the legal tender type. They would merely be bad securities in the hands of foreigners and losses in the hands of Americans. Big problem is there would be a lot of mad people and the cars Elain mentioned would be loaded to crash. I think that is why the pretend the broke isn't broke is such a popular mantra. Indirectly it is still American money owed to American banks, even if it is held by foreigners. Maybe they take the banks in exchange and we can get them (the banks) out of the country.

Liberal AND Proud

It used to be that the ultimate caricature of the "rich fat cat" was some fat white guy lighting his cigar with a $100 bill.

Oh, and true that image may become. Of course, it will just be an average white guy...and he won't be lighting his cigar...rather he will be using the $100 bill to cleanse his posterior.

Elaine Supkis

Germans burned marks for heat in 1924.

Forex Tracer

Thanks for the post mate.

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