tag:blogger.com,1999:blog-3571954475140446599.post7138120534634498146..comments2024-03-28T07:23:41.917-04:00Comments on RIGHT SPEAK: Why don't they default? The eurozone crisis explainedBOSMANhttp://www.blogger.com/profile/13613253160155525089noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-3571954475140446599.post-46390180660771802032011-05-29T14:46:37.674-04:002011-05-29T14:46:37.674-04:00John - I was hoping you would explain to me I was ...John - I was hoping you would explain to me I was wrong.<br /><br />This is a sad thing to be right about.Bill589https://www.blogger.com/profile/14043363656382229438noreply@blogger.comtag:blogger.com,1999:blog-3571954475140446599.post-36732144432985151662011-05-28T22:59:30.129-04:002011-05-28T22:59:30.129-04:00Bill, while you are right, I wasn't talking ab...Bill, while you are right, I wasn't talking about America but about the eurozone. <br /><br />Pablo, it sure hurts the international reputation to default. It also leaves a mark in your record that will be there forever. The US has gone 230 years without such marks, therefore the interest it has to pay on its bonds is insignificant compared to many other countries.JohnGnoreply@blogger.comtag:blogger.com,1999:blog-3571954475140446599.post-22708787935642975102011-05-28T19:46:39.067-04:002011-05-28T19:46:39.067-04:00John, I missed your first piece. But this was very...John, I missed your first piece. But this was very interesting. I think that your third point is the best one and best explains why default is bad. I hope that Republicans here in the United States will not demand default by refusing to raise the debt ceiling. If they do, they will be handing the election to Barack Obama in 2012. There are serious consequences to default and the moral thing to do is to raise the debt ceiling and then deal with the underlying causes. <br /><br />Anyway, good piece and thanks for your "adult" pieces here at Right Speak.Pablohttp://www.thecrossculturalist.comnoreply@blogger.comtag:blogger.com,1999:blog-3571954475140446599.post-40422679828427914072011-05-28T19:29:45.827-04:002011-05-28T19:29:45.827-04:00John. My understanding is not at the level of you...John. My understanding is not at the level of yours. But this is how I see things and feel about them:<br /><br />America will have to address entitlement reform and the debt. We have no choice. <br />Either now when it hurts, <br />or in our children’s time when it maims, <br />or maybe in our grandchildren’s time when they have no choice, and it crushes. <br />But we will address entitlement reform and the debt.<br /><br />"If there must be trouble, let it be in my day, that my child may have peace." T. PaineBill589https://www.blogger.com/profile/14043363656382229438noreply@blogger.com