Quote Originally Posted by denuseri View Post
Quote Originally Posted by IAN 2411
You seem very sure denu...and with the loss of the AAA rating the odds are getting stacked higher against the USA keeping its status. The FED government are trillions of dollars in debt and the bank keeps printing money it hasn't got.
Thats nothing new. Been happening for decades now.
Well, yes, that's the whole point. And for decades people kept pushing around toxic derivatives and saying it must be OK because it hadn't gone wrong yet, but here we are.
If push came to shove, could America buy its debt back from the Chinese and stay solvant?

It would take raising taxes for the rich for about 10 years or so at best.
And any US government that even suggested that, never mind tried to do it, would be out of office so fast the door would hit them on the way out. The US is as much hooked on spending without taxing as Greece: the difference is, people have stopped lending to Greece.