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  • Analyzing the Crisis in Iceland: Can It Happen Here? [View article]
    Regarding the claim that the Icelandic or Argentine crises could never happen here, I would like for someone to give me a reason. "Because we're bigger" is not a good reason. The Titanic was just as sinkable as a rowboat and Argentina was itself exponentially bigger than Iceland. Patel has given 5 good reasons why we're on the same path. Can anyone tell me why they don't apply? Is the US immune to the laws of economics that govern the rest of the world? Our "reserve currency" status could change within months of devaluation.

    On a side note, it would be deeply ironic to see Americans protesting if our government became bankrupt and our currency was devalued. We're a democracy. We did this to ourselves when we voted for deregulation, the Iraq quagmire, bailouts, big govt with low taxes, no balanced budget requirements, unfunded entitlements, etc. What are you going to do, protest your own votes?! OK, here's your sign!
    Dec 09 12:40 pm |Rating: 0 0
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