>> "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." Alan Greenspan
That has negative consequences that are papered over by making simplistic statements like that. The debt is still bad and going to result in bad things happening, and no platitudes from the Fed are going to change that.
I mean no platitude necessary, by your logic if debt is bad then no debt is good. But last time that was the case it caused the longest depression in American history. How does that add up?
