[quote=The-Shoveler]I don’t worry about the Fed Debt, I worry about local municipalities and state debt (they can’t print their way out).
No one is going to pay this back (well at least not in today’s dollars).
Deflation will not be a long lasting thing, the local municipalities can’t afford it.[/quote]
you’re spot on with that observation, I calculated the hit per parcel in san diego (using web based figures), and its an eyeopening figure:
http://patrick.net/forum/?p=1247288&c=1118128#comment-1118128
