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Let's see... Current US population is smth like 311 million. Do you think it could be true that almost 2/3 of the entire population is involved in porn?

1. Don't understand, sorry. What doesn't negate which point of yours? What am I being disingenuous about? I have offered you a number of measures of govt solvency. According to pretty much every single one of them, the Scandinavian countries are up there. You seem to disagree with both my...

Flight to perceived safety.

I would agree with that... I think this is similar to the Swedish solution that they have implemented with a reasonable degree of success.

I have said this before. Sure, maybe we should have let it all crash 'n burn. However, note that we have tried that in the past and the outcome wasn't pleasant. So it's a queston of risk management. To me it's like a trading decision, right? Do you run the risk of possible ruinous loss...

Well, there's just no pleasing you... What's a measure of govt solvency that will meet your exacting criteria then? Let me just make sure I get this right: it's not debt/GDP, not deficit/GDP, not mkt bid for sovereign credit, not mkt bid for ccy; it can't be inflation... I would love to hear...

Hahaha, you're the one confused... Why don't you go check where SEK, NOK and DKK-denominated debt trades (say vs USTs and others like it) and come back to me? As to the rest of it, see my previous post.

Huh? Pls name me a Western government that has a significantly better debt/GDP and deficit/GDP thanSweden/Norway/Denmark? [B] Listen, unless we agree on the definitions of appropriate terms (which we won't), we're never gonna get anywhere. And yes, just like I don't know many things about...

Yeah, roughly... I'll delve into the really gory details later today, hopefully.

The details are still sketchy. The best estimate I have seen so far is that the total contribution of up to €106 billion through 2019.

Greece is the Hellenic Republic... As to the fact that this is the Greek 5y Sov CDS, you're gonna have to trust me on that, as the BBG description is broken. Regardless, people should stop looking at Sov CDS, esp in light of this: ISDA SAYS GREEK AID PACKAGE `SHOULDN'T TRIGGER' CDS

If you have a more sound way to organize the economy, pls don't hesitate to suggest it. I personally I am not aware of a viable alternative. [B] That's not accurate, esp given we're reading a GAO report on the Fed.

Firstly, you're confusing flow and stock variables. Secondly, who says they have to be at the top of the list? Finally, let's not quibble over the definition of success ('cause I know you'll disagree with me as a matter of principle). My argument (or rather my refutation of the author's...

The players are the usual suspects. Risk on - long EURCHF Risk off - short EURCHF Simples.

Come on, dude, no need for this... Indeed, I assumed the starting point was that we confine the discussion to the countries mentioned in the original article and ones similar to them.

I am pretty sure that we're not discussing totalitarian governments.

Yeah, sure, but if I were your friend I'd hold USD... In his case, in a whole variety of ways, it's definitely the best looking horse at the glue factory. Just my Z$2c.

I don't know how to define "small" and "large" objectively. I prefer to use "efficient". It sure looks to me that them liberal Swedes have figured out how to run a relatively efficient solvent government (using the tax burden/govt expenditure metric). Hence, my point about the clearly invalid...

Does anyone know why Sen Sanders classifies these loans as "secret" in his press release? I haven't found a single time the word "secret" is used in the GAO report... Other than that, I think the report does have some valid stuff in it.

Other than the domestic unstable currency, what's the main alternative ccy in circulation in your friend's country? That's the one your friend should stuff under the mattress...