To the People

The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or TO THE PEOPLE.

Sunday, March 29, 2009

You Ain't Gettin It Back

At Samizdata, Brian Micklethwait kicks around the idea of telling the citizens of nations funding Western governments' debt that they're not going to get their money back:
It needs to be said that under certain circumstances easily now imaginable, many Western citizens would argue, strongly and vocally, that those idiot foreigners who are now lending money to Western governments should in due course be told: sorry sunshine, you ain't ever going to get it back. Our governments are bankrupt. Why the hell should we and our descendants in perpetuity be paying tribute to you? You knew that the money to pay you back would have to be stolen from us. You assumed we'd just cough up indefinitely. Well, we damn well won't. You are now a definite part of our problem, and telling you to take a hike is going to be part of our solution. Our thieving class is now "borrowing" money from your thieving class like there is no tomorrow, and we are not responsible for the actions of either gang. A plague on both your houses.

To avoid taking Micklethwait out of context, I should clarify that the topic of the post is that it may be healthy for some general ideas currently too politically incorrect to be discussed in mainstream politics to be discussed on the internet. And I think the lead-in example in the third paragraph of the post is counterproductive.

But he has a point in that it may be time to start seriously discussing the default option - if not as a mainstream political talk point, at least as a strategy to start some political push back in the lending nations to stop funding these trillions in Western government debt.

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