Any comments?

[Brad De Long]

>Brad De Long wrote:
>
>>
>>
>>  Touche...
>>
>>  But if you hit the wall, and if there's no IMF to loan you anything,
>>  then what do you do? You have your freedom of action, you just have
>>  no money to pay for your imports...
>>
>
>You default. Or threaten to do so and pay x cents on the dollar.

As I said, the big problem is the flow, not the stock: you need money 
to pay for your current imports...

Brad DeLong