FastSaying
I must say, I never expected to see the day where I would be talking about anything other than reducing the debt, I'm running into the tyranny of zero, which is where you can't reduce (the debt) any more
Alan Greenspan
Debt
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I think the whole issue of a debt ceiling makes no sense to me whatsoever. Anybody who is remotely adroit at arithmetic doesn't need a debt ceiling to tell you where you are.
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The very nature of finance is that it cannot be profitable unless it is significantly leveraged... and as long as there is debt, there can be failure and contagion.
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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.
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With recent reforms in U.S. bankruptcy law making it more difficult than ever to erase debt, it's important to protect yourself. If you face financial challenges, seek the advice of a lawyer or professional financial advisor to explore alternatives.
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Forecasting our futures is built into our psyches because we will soon have to manage that future. We have no choice. No matter how often we fail, we can never stop trying.
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