-----Original Message-----
From: J Dunlop [mailto:[log in to unmask]]
 Forecasts put the deficit at $1.4 trillion in 10 years. Who is going to
pay?


 The Traditional answer, true over centuries and not unique to the US, has
been "The holders of Government Bonds, both at home & abroad, by means of
inflation and currency depreciation". Since US Govt securities are a common
bolt-hole for the ruling classes of unstable nations (and Japan) there's a
certain rough justice in this.
 I wonder if you, John D, are old enough to remember "War Loan"?


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