reply on: Can we really, finally, be nearing the end of the IRS? \ stacker news ~econ

pull down to refresh

21 sats \ 7 replies \ @grayruby 20 Feb \ parent \ on: Can we really, finally, be nearing the end of the IRS? econ

Markets don't like uncertainty. Hard to imagine they will view anything as a credible replacement plan until proven to be credible. A mass sell off in the US bond market will derail those plans very quickly whether credible or not.

40 sats \ 6 replies \ @Undisciplined OP 20 Feb

That's fair and very plausible. Of course, I think they should just default on the national debt, so it's not much of a reason not to do something in my book.

25 sats \ 5 replies \ @grayruby 20 Feb

26T of federal debt is held domestically. That would be a fun day when that all gets written to zero.

40 sats \ 4 replies \ @Undisciplined OP 20 Feb

You know I'd be eating popcorn and laughing at the chumps who gave their money to the Feds willingly.

38 sats \ 3 replies \ @grayruby 20 Feb

Unfortunately many didn't do it willingly. They got ensnared in the trap.

40 sats \ 2 replies \ @Undisciplined OP 20 Feb

I'll pour one out for them, while I laugh at the others.

There's no clean way out of all this, but the people who lent to the irresponsible government are more deserving of paying the consequences than those who didn't. Hopefully, those who didn't do it by choice can sue whoever made them do it.

24 sats \ 1 reply \ @grayruby 20 Feb

You would have to eliminate the Fed first in this scenario otherwise they are just going to print the money and bail everyone out.

view all 1 replies