Saturday, September 19, 2009

Public debt and right of pledge

(image;Fist of the North stars,Kenshiro"You are already dead.")







We can't attach the government property. In Japanese gangster novels or cartoons, sometime a loan gang bring the daughter as a pawn from a insolvent person. He said "We shall take your daughter."
If government became insolvent, can we do such like that? Not knowing what economists say about, the amount of public debts has own limit of solvency. If government exceed over the limit, default will be real inevitably.

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