Monday, August 08, 2011

Wrong Answer, Alan

Hey, don't worry about that S&P downgrade:

David Gregory, moderator of "Meet The Press" on NBC: "Are U.S. treasury bonds still safe to invest in?"

Alan Greenspan, Former Chairman of the Federal Reserve: "Very much so. This is not an issue of credit rating, the United States can pay any debt it has because we can always print money to do that. So, there is zero probability of default."
Sure, let's turn the dollar into Charmin. I'll bet you feel safer now. And I'm equally certain that the Chinese and our other creditors will be totally cool with that.


Bike Bubba said...

Don't ya think that Charmin will be worth significantly more than dollar bills after Bernanke gets done with QE25? I'm thinking more like ScottTissue, useful for wiping AND light sanding!

Gino said...

its the right answer to the question.

whether doing so is wise (or moral) is another discussion and a different question.