Belmont Club

By Richard Fernandez

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The Library of Babel

August 18, 2008 - 5:53 pm - by Richard Fernandez
ash
2008-08-19 07:02:05

S, sorry for jumping on you on GDP line in the previous thread, it was only after reading yours’ and Buddy’s comments more thoroughly today that I realized you were quoting him. I found the discussion very interesting. My understanding of the US debt situation is that any other country maintaining similar levels of debt would have their currency shot to hell by now but US saving grace is its general use as an exchange currency. A historical precedent would be the British pound and their debt at the wane of the British empire. I’m keen on learning more about that monetary history but I haven’t, as of yet, found much literature on it. I’m open to suggested readings.