pp-I agree with the basic premise of the report but where it goes wrong is when it talks about hyper-inflation. This is a big debate in the econ-dork world however I’m firmly in the deflation camp. They won’t have any luck trying to re-flate by normal means and the world won’t accept dollars if we just print to pay off debt. The most likely scenario is the dollar will lose reserve currency privilege. There has been increasing cry’s from around the world on this recently. Actually this will devalue the dollar as much as hyper-inflation just technically we will be having deflation with massive devaluing. Either way it’s third world really fast.
The head of the GAO put our a report late last year saying back then before the bailouts that we could not service our debt after 2009. I would assume after putting several trillion more on that has moved up to about early 2009.
