Re: Default, dear Brutus, is not in our stars

Presumably, if we default then interest rates will rise because investors
will demand more from is to lend to us as we are higher risk.  and when the gov starts to roll over (refinance) that 14 trillion deficit, we will have to pay much more on any amounts we don't default on.
Also, we will have to stop borrowing to spend and pay as you go.
Think of it as turning in the keys to your house back to the bank.  You ruin your credit and have to actually have money before you can spend it.
-L

Sent from my iPhone

On Jun 11, 2011, at 8:15 PM, "Karl Swenson" <[email protected]> wrote:

> So what are the pros and cons of defaulting?  Honestly curious.
> 
> -----Original Message-----
> From: [email protected] [mailto:[email protected]] On Behalf Of Lance McLain
> Sent: Saturday, June 11, 2011 12:02 PM
> To: DADL (off topic)
> Subject: Re: [DADL-OT] Default, dear Brutus, is not in our stars
> 
> 
> 
>> America has a looming rendezvous with destiny. You can’t tax your way out of it, you can’t inflate your way out of it, you can’t quantitively ease your way out of it. The only door that leads anywhere is the one marked “Massive Government Cuts”. 
> 
> We can also default on China.  Screw them.  They knew the risks investing in us.  I'd prefer what little remains of our wealth go to Americans not Chinese.
> Default is an option.  Only the banksters will tell you otherwise.
> 
> -L
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