U.S. Debt and the Return of Inflation

Michael Kinsley, Los Angeles Times
Standard and Poor's, the bond rating service, has been widely mocked for its recent prediction that the U.S. government may default on its bonds. It's a highly qualified prediction, sort of a prediction of a prediction of a remote possibility. S&P estimates there's a 1-in-3 chance that it will downgrade its ratings of U.S. bonds. So the chance of a default has increased from unimaginable to almost unimaginable. But, like that kid in math class who bursts into tears when the test comes back graded A-, America would find this traumatizing because it's never...

Source: http://www.realclearpolitics.com/2011/04/26/us_debt_and_the_return_of_inflation_254410.html

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