There will only be a genuine Default on our Debt if the US Treasury and our Masters CHOOSE not to spend the money on the interest payments, and they CHOOSE to blow it elsewhere.
Denninger lays it out wonderfully, one more time.
Here is the link.
Make certain to add this post to your Denninger reading list for the day, here.
Amazing how the "simplicity" of the logic always escapes the decision makers, or maybe it doesn't ?ReplyDelete
WOW!! Denningers 2nd post you linked to is outstanding!! We truly have reached a point where we must really be ready to parish for that which some still cherish.....ReplyDelete