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January 15, 2012

Comments

Josh

Very well written article. The fact that the US is going to have a hard time repaying the INTEREST component of the debt is the worry. People misunderstand the power of exponential growth. Perhaps the US economy can be self-sustaining (to a limited degree) by never paying back its base debt, but the inability to repay interest on debs is now a credible threat to financial stability and global credibility. This coupled with China's push for SDR Global Reserve Currency status will surely pull the rug out from underneath US leaders.

The thing that gets me though, is that the US is full of smart, well-meaning people, but the only people who put forward sensible solutions are marginalised and made to look like crackpots.

Maybe the US do have a solution, a silver-bullet of sorts, but I'd be very surprised. Maybe the US are facilitating Arab uprisings with a view to secure lots n' lots of gold?

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