Sweep Da Leg

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Do you really view these impotent freaks as a threat?

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No, we're not. We have more debt, in relative and absolute terms than most of the first world, and we run massive trade deficits to boot. In other words, we're the dependent party. We're dependent on them to support our consumption and our currency. If they stop holding dollars, dollar based debt, or buying our assets, which they absolutely will at some point as our debt balloons and the Fed intermittently monetizes it in increasing amounts, then the dollar is toast. Eventually, like every other creditor in history, they will say "No mas", or their currencies will follow (or lead) ours down the tube. No other first world country of note has our lethal combination of massive, rapidly increasing debt and foreign dependency for consumption. Our negative $30 trillion dollar net international investment position is a millstone that our creditors carry, but saying they will never stop accumulating more short of drowning is pure hubris

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I told you there are no optimal solutions, just painful solutions. It's not a gotcha, it's a fact. The fact that some other countries will share that future pain is no consolation.

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I can’t believe “Wall Street Mav” would mislead us like that he’s such a known and reliable source

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all while becoming more selective in admissions

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