Comments on: How nations go bankrupt, one sliver at a time

By: Chris_colorado

Chris_colorado — Mon, 01 Aug 2011 15:12:02 +0000

Do some homework. Our debt to GDP ratio is very similar to all 1st world countries. No need to panic.

By: OuttaLuck

OuttaLuck — Mon, 11 Jul 2011 19:34:07 +0000

It’s not possible to pay off the debt to the Federal Reserve… We have to borrow the money to pay them.

We need to end the Fed before we can accomplish anything ever again

By: BigBlue80

BigBlue80 — Mon, 11 Jul 2011 12:47:40 +0000

I look forward to your writing because it is some of the most ideology-neutral, and therefore credible, that I have found. However, I think that 1/2% of $600BN would be $3BN not $6BN.

By: GrzegorzK

GrzegorzK — Fri, 08 Jul 2011 12:51:00 +0000

isn’t it about taking short positions on some black swans that probably won’t happen? managers can take benefits from such decisions for a couple (even a lot) of periods. I’m not an expert but I wonder who is responsible for such decision when such a person leaves company. Great article!!!

By: Biscayne

Biscayne — Fri, 08 Jul 2011 10:52:30 +0000

The biggest slivers come from spending on war. Thus the Afghan and Iraqi wars , which supposedly have cost $11 trillion. And people think it is all about oil and/or national security. To appreciate the criminality of the scheme, think of all those who died fighting for their country.

By: breezinthru

breezinthru — Fri, 08 Jul 2011 05:42:22 +0000

Alas! We are doomed! We are condemned to repeat boom and bust until we are busted.

By: Gregg Easterbrook

Gregg Easterbrook — Fri, 08 Jul 2011 00:17:17 +0000

Wow, you remember ZBB. That was in the dim mists of prehistory, like, 1977. As I recall, the problem with zero based budgeting (requiring agencies to justify every expense from scratch) is that every federal agency classified everything it did as essential, and thus exempt from the process.

By: XRayD

XRayD — Thu, 07 Jul 2011 23:01:39 +0000

Jimmy Carter had suggested Zero Based Budgeting to tackle problems before they get out of hand. It’s time to use it now.

By: XRayD

XRayD — Thu, 07 Jul 2011 22:59:39 +0000

Or as someone said (Twain?): At first slowly, and then suddenly!

By: 74LS08

74LS08 — Thu, 07 Jul 2011 21:10:22 +0000

Excellent article. Any government system needs a negative feed back mechanism to prevent a system from getting too out of whack.
Look at our politicians and ask yourself can these people actually do anything for a common good of the country?