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U.S. Government Defaults in 1862, 1933, 1968 and 1971 More

U.S. Government Defaults in 1862, 1933, 1968 and 1971

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  • Thank you. I'll never remember all that in a debate but it's good to know.

  • None of those previous episodes were defaults under any generally accepted meaning of the term. The government swapped out the means of payment for outstanding bonds, but it continued to pay interest and principle, and you could buy whatever you wanted with those payments (except gold after the 1933 swap). The default the Repubs are threatening is not the same thing at all, and the claim that it is, mostly flogged by one far-right ideologue, isn't gaining much traction even among conservative economists. Su

    • None of those previous episodes were defaults under any generally accepted meaning of the term.

      True, we live in a time of a cratered economy, where the numbers are basically lies meant to paper over how broken the whole system is.

      • True, we live in a time of a cratered economy

        The economy is fine. You're just looking for a way to cut back social services and earned benefits (social security) programs. Nobody complained about the "debt" during the Wall Street bailouts

        • The economy is fine.

          Man, you are smoking some fine, fine stuff.

          • Yeah, well, I'm not into Kool-Aid

            • No matter how much economic destruction is undertaken by our aristocracy, all that matters is having someone to blame, I suppose. And a magic ballot to vote everything back to a Happy Place!

              • And a magic ballot to vote everything back to a Happy Place!

                Work the primaries, babe, a perfectly cromulent way to knock the incumbents off the ballot. There is nobody to blame but your collective that reelects them over and over

                • There is nobody to blame but your collective

                  As usual, I find your analysis true, but simplistic, and incomplete.

                  • You only feel that way because you're confused about the free will thing. Simple fact, we either have it, or we don't

                    • We have free will and Destiny interacting. This was in the Maslow-3D model that I shared some weeks ago. Your free will can be used to reject the explanation, but there it is.

                    • If there is free will, "destiny" is religious hogwash. Our only real destiny is death, life is what we make it

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