Ahhh - the old "national debt doesn't matter" arguement again.
I've said it before and I'll say it again. Perception is reality. Sure, you might be able to prove on paper that the amount of US debt doesn't really matter. And, you might be right. However, that does nothing to stave off economic disaster.
If people think that the country is in trouble, then it is. Doesn't matter if you can prove it on paper. If investors start pulling their money out and stop buying debt- for whatever reason, be it perceived instability, rising debt, or because the moon aligned with Venus - then the country will be in trouble.
Unless you can somehow convince the American people not to pay attention to the actual debt numbers, then the size of the debt matters.
US credit rating slashed....again.
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Professor - VIP
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Re: US credit rating slashed....again.
by The Comrade » Mon Sep 17, 2012 10:24 am
the investors who matter pay people lots and lots of money to tell them the things kane is.
really shouldn't be worried that joe schmoe and his 3000 dollars invested is going to get cold feet because he's a debt hawk. that's not going to cause widespread instability.
really shouldn't be worried that joe schmoe and his 3000 dollars invested is going to get cold feet because he's a debt hawk. that's not going to cause widespread instability.
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The Comrade - Vice President
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Re: US credit rating slashed....again.
by Davethulhu » Mon Sep 17, 2012 10:51 am
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Re: US credit rating slashed....again.
by The Comrade » Mon Sep 17, 2012 10:59 am
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Re: US credit rating slashed....again.
by Kane » Mon Sep 17, 2012 10:09 pm
Joe Schmoes don't "own" the other $350 Billion. Your average Joe Schmoe probably doesn't even know what the hell Berkshire Hathaway is.
What's your pay and who do you consider a "joe shmoe?"
What's your pay and who do you consider a "joe shmoe?"
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