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And the universe is losing stars on the rate of 30 supernovas per second. Should we create a action group for star preservation? A big number means nothing unt

And the universe is losing stars on the rate of 30 supernovas per second. Should we create a action group for star preservation? A big number means nothing until putted in context. 4 billion per day gives a trillion and a half per year. Also known as half the us health spending for the same year. Or 10% US GDP. While this may be troubling in other situations - in the current situation due to inflation the us will surely pay less than the amount borrowed in real terms. So this works to reduce the debt if measured in "goods and services" metric. And if US gets in deflation spiral the debt will be the least of the worries. While the interest on the debt is lower than the Fed target inflation rate there is nothing to worry about.

contingencies 13y ago
Reuters: http://www.reuters.com/article/2011/06/08/us-usa-debt-bondholders-idUSTRE75718320110608 http://www.reuters.com/article/2011/06/08/us-usa-debt-bondho... "It has dire implications for the economy at a time when the macro data is softening," said Ben Westmore, a commodities economist at National Australia Bank CNBC: http://www.cnbc.com/id/100388142 http://www.cnbc.com/id/100388142 "The minute we default, there would be a complete collapse in the bond market," said Peter Schiff, chief executive officer of Euro Pacific Capital and a critic of U.S. government spending habits. That would leave the U.S. struggling to refinance more than $4.6 trillion that come due within two years, including $3 trillion of Treasurys due to mature in 2013. The Atlantic: http://www.theatlantic.com/business/archive/2013/01/h/267205/ http://www.theatlantic.com/business/archive/2013/01/h/267205... This story has three possible endings. Either Congress lifts the debt ceiling, and we all live happily ever after, at least until the upcoming battle over the continuing resolutions; or Congress doesn't, and we only get a massive dose of austerity; or Congress doesn't, we get a massive dose of austerity, and then we default, with interest rates shooting up and the financial system melting down. This shouldn't be a difficult choose-your-own-fiscal-adventure. Forbes: http://www.forbes.com/sites/igorgreenwald/2013/01/09/why-the-debt-default-is-coming/ http://www.forbes.com/sites/igorgreenwald/2013/01/09/why-the... Welcome to the permanent crisis. It’s the only way our increasingly dysfunctional government can get things done.

contingencies 13y ago

Reuters: http://www.reuters.com/article/2011/06/08/us-usa-debt-bondholders-idUSTRE75718320110608 http://www.reuters.com/article/2011/06/08/us-usa-debt-bondho... "It has dire implications for the economy at a time when the macro data is softening," said Ben Westmore, a commodities economist at National Australia Bank CNBC: http://www.cnbc.com/id/100388142 http://www.cnbc.com/id/100388142 "The minute we default, there would be a complete collapse in the bond market," said Peter Schiff, chief executive officer of Euro Pacific Capital and a critic of U.S. government spending habits. That would leave the U.S. struggling to refinance more than $4.6 trillion that come due within two years, including $3 trillion of Treasurys due to mature in 2013. The Atlantic: http://www.theatlantic.com/business/archive/2013/01/h/267205/ http://www.theatlantic.com/business/archive/2013/01/h/267205... This story has three possible endings. Either Congress lifts the debt ceiling, and we all live happily ever after, at least until the upcoming battle over the continuing resolutions; or Congress doesn't, and we only get a massive dose of austerity; or Congress doesn't, we get a massive dose of austerity, and then we default, with interest rates shooting up and the financial system melting down. This shouldn't be a difficult choose-your-own-fiscal-adventure. Forbes: http://www.forbes.com/sites/igorgreenwald/2013/01/09/why-the-debt-default-is-coming/ http://www.forbes.com/sites/igorgreenwald/2013/01/09/why-the... Welcome to the permanent crisis. It’s the only way our increasingly dysfunctional government can get things done.