US will default in Summer 2009

[Chomsky]

Or so they say:

http://www.leap2020.eu/GEAB-N-28-is-available!-Global-systemic-crisis-Alert-Summer-2009-The-US-government-defaults-on-its-debt_a2250.html

[metalman]

Re: US will default in Summer 2009

Or so they say:

http://www.leap2020.eu/GEAB-N-28-is-available!-Global-systemic-crisis-Alert-Summer-2009-The-US-government-defaults-on-its-debt_a2250.html

classic ka-poom image for iceland. but how big is iceland's military? how many nasty dictators is iceland protecting for oil?

[LargoWinch]

Re: US will default in Summer 2009

Or so they say:

http://www.leap2020.eu/GEAB-N-28-is-available!-Global-systemic-crisis-Alert-Summer-2009-The-US-government-defaults-on-its-debt_a2250.html

I don't think that a country under a fiat system will default on its debt, especially not the US: they will simply "print away" and repay with diluted dollars...

[phirang]

Re: US will default in Summer 2009

Toyota won't allow it.

[Guest]

Re: US will default in Summer 2009

Chomsky - these guys have been hyperventilating for years. I bet there will be more bad calls yet to come from them. They are starting to get irritated that the Euro zone has succumbed to the American fiat and bad paper disease. As the dollar runs away from them on the upside they will get ever more strident that it must break down vs. the EURO.

I BET YOU THIS WILL BE THE OPPOSITE OF WHAT THEY ARE CALLING IN THE SUMMER OF 2009.

1. A Dollar in distress (EUR 1 = USD 1.75 at the end of 2008): Panic-fear of a US currency and economy collapse eats into the American collective psyche Bernanke, Paulson and Bush bark but the USD will not deviate one iota from EUR 1 = USD 1.75 at the end of 2008, according to the forecasts of LEAP/E2020… (page 3)

AND THIS IS PURE HYPERVENTILATING - AND JUST PLAIN BAD CALL.

7. Iran: 70 percent probability of an attack by October 2008 confirmed The nomination of Barak Obama as the Democrat opponent to John McCain props up the risk

Or so they say:
http://www.leap2020.eu/GEAB-N-28-is-available!-Global-systemic-crisis-Alert-Summer-2009-The-US-government-defaults-on-its-debt_a2250.html

[GRG55]

Re: US will default in Summer 2009

Toyota won't allow it.

If Toyota wants to sell any Tundras they will...:p

[*T*]

Re: US will default in Summer 2009

Iceland has no standing army.

[Chomsky]

Re: US will default in Summer 2009

Thanks for the perspective on the source.

[don]

Re: US will default in Summer 2009

Why do the Lefties do so poorly on economics? For every Paul Baran there's scores of Chomskys. Marx, Engels Lenin- they all have insights valid even today, a hundred-plus years after they were formulated. Perhaps it's the environment of Empire. The post WW2 Lefties are nearly all dependent on an academic posting for a paycheck, marking their turfs while ensconced in material abundance. Does economic discovery, at least from this direction, depend as much on material struggle as good blues and jazz seem to :confused: