oh, that's an old reference to a gruss post that if the us had to go by gaap accounting, we would already be insolvent.
On 8/27/10, Judah McAuley <[email protected]> wrote: > > How, exactly, are we already bankrupt? Being in debt is not the same > thing as bankrupt. > > Judah > > On Fri, Aug 27, 2010 at 11:41 AM, Robert Munn <[email protected]> wrote: >> >> On Fri, Aug 27, 2010 at 8:31 AM, G Money <[email protected]> wrote: >> >>> Hey, I bet you 10 bucks the health plan doesn't bankrupt the country. >>> >>> Shall we say...in 5 years, when we're not bankrupt, I can collect? Or do >>> you >>> want 10 years? 20? How long until we're bankrupt...i'll give you as much >>> time as you want to lose the bet. >>> >> >> Technically we're bankrupt already, remember? The only reason we will >> not actually go bankrupt is that we control the printing presses for >> the dollar. The real question isn't whether we will go bankrupt, but >> when- not if - the international banking community and our other >> sovereign debt holders (I'm looking at you, China and Japan) will >> refuse to finance our debt without significant structural changes in >> US budgets. That day will be a de facto bankruptcy re-organization for >> our country, and it could happen within a few years. >> >> > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology-Michael-Dinowitz/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:326191 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
