I don't know. Biden would then become POTUS. With his health history, might not last long... after he croaked, PELOSI would then be POTUS... can't imagine a more scary prospect than that!!
This goes without saying because any money spent today, is borrowed from the future. By definition, it will rob future productivity. Now debt can be a good thing, if you invest that money wisely at times when you are under-capitalized. And then use the proceeds of those investments, to pay off the debt and actually save up when you have a surplus. The US govement will do none of those things.
The US gov. can do none of these things that is why there is no intent to repay debt and that is why the bond auctions will die. What are you left with .... only the monetization of debt.... the ultimate flat tax. regards f9
ps ... of course US gov. could sit around a world table of major economies. US would be the lead debtor nation and China the lead creditor nation. Talks on a multipolar basis could result in an outcome more suited to the world and it's near term future, in that a form of balance would need to be agreed and acted upon. To leave the current global imbalances in place will not serve the debtor nations well. Odd as it may seem the creditor nations and the commodities nations are emotionally better equipped to ride out the coming trouble than the debtor nations. Let us all hope that things are resolved in an equitable fashion (more or less) before total resolve is put to the test. regards f9
Gnome... I don't know. Biden would then become POTUS. With his health history, might not last long... after he croaked, PELOSI would then be POTUS... can't imagine a more scary prospect than that!! .................................................................. Then she could be friends with Ms Germany, Chile, and Argentina.... She would know that something is adrift.... Cause the Malls are closed....