On Mon, 21 Feb 2011 22:40:50 -0500, Wayne.B
wrote:

On Mon, 21 Feb 2011 21:30:13 -0500, wrote:

I am not sure how to penetrate the dream world you live in.

It's a faith based belief system. :-)

Actually I can tell you how it will get resolved. At some point
there will be no one willing to buy any more US debt. Interest rates
will skyrocket and the economic system as we now know it will grind to
a halt. Inflation will run rampant and social security checks will
become worthless pocket money. There will be massive rioting in the
big cities and shortages of just about everything. It will not be
pretty at all. I'm thinking about buying another sail boat or a farm
in the country somewhere.

Yes, that's a correct analysis. We're not particularly close to that
situation.

In more than a sense, any kind of economic system beyond simple
transactions is a faith-based system. That's the definition pretty
much of 'full faith and credit.'