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swusc
Penny Hoarding Member
USA
553 Posts |
Posted - 02/04/2009 : 16:56:47
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That would be way up the list of thing that are very bad for the economy. I mean that would basically stop lending to local governments at least.
At the worst, it could make the credit markets today look like open flood gates after that happens.
If State governments are defaulting, then are you going to lend money to business or average joes? The answer is a big fat no.
-SWUSC |
`Everybody is ignorant. Only on different subjects.' Will Rogers
"This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the "hidden" confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard." Alan Greenspan, 1966. |
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46 Of 50 States Could File Bankruptcy In 2009-2010
Forum Locked
Posted - 02/03/2009 : 20:19:46
