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morganist
Moderator

Registered: Sep 2008
Posts: 3404

09-26-12 08:56 PM

What do you think is this a better proposition than Growth or Austerity?

http://morganisteconomics.blogspot....ngton-post.html

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BSAM

Registered: Sep 1999
Posts: 8383

09-26-12 09:02 PM

Does America Need to Consider a Creditor's Agreement to Stop the National Debt

No.
We need to consider some changes to the Constitution, to include term limits, and a balanced budget amendment.

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TheMan

Registered: Sep 2009
Posts: 704

09-26-12 09:07 PM

I think that we are approaching a leave before they will not let you situation here shortly.

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morganist
Moderator

Registered: Sep 2008
Posts: 3404

09-26-12 09:24 PM

Quote from BSAM:

Does America Need to Consider a Creditor's Agreement to Stop the National Debt

No.
We need to consider some changes to the Constitution, to include term limits, and a balanced budget amendment.

Even if yo put limits on the debt you owe the debt will still grow with compounding interest. The creditors agreement will stop that compounding affect to stop bleeding of money that is currently around $230 billion a year. The figures I used in the article are optimistic in terms of the level of interest payments.

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CT10Gov

Registered: Sep 2012
Posts: 438

09-26-12 09:30 PM

This is a technical default.

Quote from morganist:

What do you think is this a better proposition than Growth or Austerity?

http://morganisteconomics.blogspot....ngton-post.html

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morganist
Moderator

Registered: Sep 2008
Posts: 3404

09-26-12 09:35 PM

Quote from CT10Gov:

This is a technical default.

It is however another option. Is it time to consider it?

Besides isn't QE a technical default?

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