Buffett's Partner: 'It's Over' for U.S. Economy

[murray t turtle]

Quote from makloda:

Debt is a contract. You can not forgive a contract be decree unless we change to a totalitarian system - it would be like seizing private property.

Debt can only be legally forgiven if the creditors agree and forfeit the money they lent out. Which they likely won't.

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Excellant points,Makloda;
& both bulls & bears defend their home. And when bull or bear families are involved, private property/territory tends to win again .

Generally when a private bank forgives/writes off debt;
the borrower then owes the IRS tax on the debt forgiven. Not a CPA, certain exceptions may apply..............................................

And also ,concerning certain exceptions;
not all of ''US/Economy'' are as crooked as President Richard Nixon,
or managed as Citicorp, or GM,Lehman.Suicide by gov cop/insane leverage, is frankly still suicide.

Hope this helps.

 

[Hombre]

Quote from condorll:

Remove the Used car salesman and put in a businessman, Mitt Romney for example.

Yeah, like that's gonna happen. People don't want to work, they want handouts.
Dumbass republicans picked McCain-Palin as their best .That tells a lot about their intelligence .
Third party is the answer. Dems and Reps are all too corrupted that there is no difference between them.