tag:blogger.com,1999:blog-7014344505450330734.post6569153256108847099..comments2024-02-27T07:05:24.404-05:00Comments on Burning the Midnight Oil ...: LQD: The AA+ rating is valid, but the S&P case is intellectually dishonest ~ MoslerBruceMcFhttp://www.blogger.com/profile/08502035881761277885noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-7014344505450330734.post-10724328060709448762011-08-13T05:07:05.149-04:002011-08-13T05:07:05.149-04:00I heard Obama shrug and wonder openly if Social Se...I heard Obama shrug and wonder openly if Social Security checks were going to get in the mail. The debt has gone from 60% GDP to 100% GDP in the past three years.<br /><br />The idea we can just print more cash, so default is impossible is too clever by half. It's like investing in snowballs in hell, that you know will disintegrate and rapidly vanish.<br /><br />Inflation is simply a way to retax wealth. You have to save before you invest, and we forgot that. The economy is not a perpetual motion machine, and borrowing to stimulate, going on the past thirty years, is actually the reason we're having a recession.<br /><br />US T Bills are worth less if it's a sure thing we will print tons more money. That's why we're a AA+ nation, and really should be AA.Dustinhttps://www.blogger.com/profile/15590811467601049788noreply@blogger.com