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Saturday, 12 September 2015

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PythonMagus

I do not think anyone will pay that debt. It will just be traded around for a while. If economic growth stops, that will be a problem, but despite every prediction to the contrary, including my own, I don't think that will every happen.

Paul

Your blind optimism is refreshing but delusional. I just keep repeating my question which you and no one else answers: who/how will pay the debt. (US$60,924,067,109,549).

PythonMagus

The late August mini-collapse is not what I am expecting - I concur that it is a pre-tremor prior to the correction that I still expect early in the new year. Howwever, I see that correction as an opportunity, which I why I have switched my super to cash so I can buy back in.

I also note that commodity prices are not depressed; they are back to "normal", post-boom levels. I concur that they are currently under-priced, but that is due to economists refusing to cost in the disposal of waste. That is, pollution is still considered free, you just have to cannily do it in a part of the world where no one has the political power to stop you.

Later this century, we will get proper environmental economics that correct this. We have to loose morons like Tony Abbott and Joe Hockey who think that polluting means being open of business.

In the meantime, there is no immediate issue with debt provided there are enough corporations and countries willing to buy it. In a somewhat generous perspective, debt is a great liberator as it allows those with good ideas to monetise them without undue risk.

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