pfo said:
Titian, I understand what you are saying. But if the USA flees its debt obligation, it's US savers that would be hurt the most. The US debt is primarily owed to US citizens. This comes in the form of T-Bills, Treasury Bonds, cash accounts in brokerage houses are backed by short term gov debt and so on. Solvent foreign countries and individuals aren't stupid enough to own much US debt.
And this is a global problem. Japan is in worse shape than we are when it comes to debt. But at least Japan has a homogenous population of people who love their country. The USA is half full of ignorant, stupid, parasites that vote for "free stuff". Many of these fools hate a prosperous America because they are ignorant of the consequences of ditching capitalism for socialism and communism. So the biggest fear is that when the **** hits the fan, they will vote for socialism or communism and at that point, America never comes back. Hell, these fools are voting for Bernie/Biden/Obama now even with American being the richest people on planet Earth.
It's crystal clear to me that Congressional democrats would prefer to rule over the ashes of America than to share power in a prosperous America. And the BLM, Antifa, Democrat plantation voters and the other her riff raft democrats are bringing in here with the Visa Lottery and Chain Migration don't have 3 working brain cells between them.
Japan has LOTS of problems too, especially with their younger generation that is small and filled with incels that live at home with their parents and haven't grown up.
I agree that we will be the last ones standing simply because as messed up as we are everyone else is worse to catastrophic. China is our only real threat but the problems China has dwarf our worst nightmares. China is way past the point of no return and I can't even see them existing as a country in 20 years. They are a ponzi scheme built on quicksand.
The US still has the reserve currency. It has the biggest and best market. It has the strongest military and especially navy. It has by far the best land both in terms of natural resources and farming as well as strategic placement.
In the end I think we should break apart into multiple allied countries and welch on the debt. That will suck hard for some states but Texas will end up on top. In the meantime be very smart about where you are putting your money and think about the worst case scenarios.
"The most terrifying words in the English language are: I'm from the government and I'm here to help."
Ronald Reagan
