Depression would be great, we would reset debt to zero, we NEED depresion

Discussion in 'Economics' started by mushimushi, Mar 25, 2009.

  1. think about it
    the FED would have no choice but to reset debt based currency
    as for China and the rest of the world, They will have learned a hard lesson in life
    you can't trust foreign countries such as USA as your safe bank for your money
    they can't do nothing to us because we have the NUKES
    so the world learns a lesson and we move on,
    sure we move on bitterly
    but we move on
  2. in the mean time US has lot of obesity

    depression will make us more healthy

    those who don't off themselves will be skinny and more attractive
  3. Doubt it.

    1. That would bankrupt nearly all Americans as the $USD plunged to near zero.

    2. Nobody would buy US Treasuries again without "adequate compensation for taking the risk of default"... 25% interest maybe?

    Your handle... is that like "Hello" in Japan?
  4. This needs to go to Chit Chat.
  5. Depression doesn't reset debt back to zero.

    Yes, we need a more stable debt situation, a better equilibrium between lenders and borrowers, but a depression only leads to bigger debts! Take a look at the US debt during the 30s as they tried to get out of it.
  6. you don't get it, I am talking about RESET, complete restructuring of financial system

    HELLO, anyone heard of Argentina

    you brainwashed Americans, you think it can't be done
  7. Don't you think OP was referring to "debt default"?

    It would be financial suicide for America to do it officially... however erosion of our debt's buying power is a "technical default"... which we are likely doing right now.
  8. see my answer to Gnome on page 1

    it can be done, it can be done big time
  9. as I said, one word, Argentina
  10. You're going to have to define "reset". Doesn't somebody get hosed on the reset? And would the world want to buy our debt again if ANYBODY got hosed big-time?
    #10     Mar 25, 2009