Monday, August 08, 2011

Spilling Beans, Mr. Greenspan?

"The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default" said Greenspan on NBC's Meet the Press

Since that is the case, why would ANYBODY want to invest in US Government Bonds? The bonds get repaid in money that is worth less (if not worthless).

Scary thinking.


RPP said...

Greenspan must be senile.

Austinwalker said...

This is the same man who said there's no inflation. Quote: "If the price of steak goes up,the consumer can switch to chicken".Or this one:"When one buys a new computer and the price has gone up, the price isn't inflated because the computer probably has more memory". Old Al has been senile for years! Print more marks Al.