Political support growing to wipe out Puerto Rico's Wall Street debt https://interc.pt/2fZnWWy by @aidachavez_ @ryangrim
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Who will wipe out America's debt after we've covered PR, Wall Street, the banks, the auto companies, insolvent pensions, and all the rest?
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Might there be some deleterious consequences from that action, or will it it be pain free?
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Bond holders would feel some pain, and some of their counter parties. Depends on how gradual it is
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That's an understatement. Negating $20 trillion would collapse our existing economic system and eliminate the savings of billions of people.
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Yeah, if you did it overnight. We're already doing it very slowly
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It'll lead to painful inflation and it'll be paid by the poor and middle class. No way to avoid it.
End of conversation
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