On 8/28/2012 7:44 PM, jim wrote:


The current economic problems was created by 60 years of
runaway private sector debt. The govt debt isn't the problem.


You are exactly right.

But they are still the current problems.
The ones we are trying so hard not to deal with.


The current choices are simple the govt can stop borrowing
the funds the private sector is devoting to repaying debt
and force more than 50% of households and businesses
into bankruptcy or the govt can continue to borrow what the
private sector is currently under-spending and allow the
private sector to continue to delever and repair their
balance sheets.

Either way, the government winds up bankrupt.

Remember Greece?