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I'm Especially Baffled By The Idea Of Taking Insurance Against A U.s. Default. If America Defaults, We're Talking About A Chaotic World - Mad Max, More Or Less - In Which Case, Who Imagines That Insurance Claims Will Be Honored?

Friedrich Hayek Is Not An Important Figure In The History Of Macroeconomics.

If You're Doing Your Job Right, Some Substantial Group Of People [is] Going To Be Mad At You.

However, The Fact That An Economist Offers A Theoretical Analysis Does Not And Should Not Automatically Command Respect. What Is Needed Is Some Assurance That The Analysis Is Actually Relevant.

I Really Think That People Have To Think Safety; Taking Risks For Higher Yield Is A Bad Idea Once You're In Late Or Latish Middle Age.