Thursday, December 29, 2011

more basic stuff from dean the dream

"As a country we cannot impose huge debt burdens on our children. It is impossible, at least if we are referring to government debt."


The reason is simple:
"
at some  point we will all be dead.  the ownership of our debt will be passed on to our children."

" If we have some huge thousand trillion dollar debt that is owed to our children, then how have we imposed a burden on them? There is a distributional issue"


— Bill Gates’ children may own all the debt —


"but regardless  that is within generations, not between generations."


" One can make the point that much of the debt is owned by foreigners, but this is a result of our trade deficit, which is in turn caused by the over-valued dollar "

on this :


ie no really big whoop