1. The "time it takes" may be a surprise.. may not "take a very long time". 2. Nothing sanguine in the mess of "owing so much you can't repay"... disaster lurks there for someone... can't be assured it's "not YOU".
Let's not forget the small matter of Breitbart being an asshole. Whatever truth there may or may not be in anything he refers to, you can be sure it will be spun fairly beyond recognition and in keeping with whatever narrative he has in mind. (Predigestion for the nation.) He has done so before with regularity. There is little reason to think he is not doing so now.
i just thought of a diabolical way out, change the name of USA to New USA, do a swap of 1 mil old US T bond for 1 New US T bond, a currency swap of 1 mil old US dollar for 1 New US dollar, voila, all solved, no more doomsday, only loosers are the ones holding dollars and t bonds, the wealthy US all holding equities so they are not affected as their %age holding remains the same, same reason why the Fed offers US dollar swaps to other countries at every opportunity, same reason why equity market keeps going up
All WRONG! US citizens hold SEVERAL TIMES as much T-Bonds as US equities. In any "currency revaluation", most citizens of that country lose TONS...
Of course not... But you said, "... do a swap of 1 mil old US T bond for 1 New US T bond, a currency swap of 1 mil old US dollar for 1 New US dollar, voila, all solved..." That's as big of CROCK OF TOTAL, UNTHINKING, TALKING OUT YOUR ASS BS AS I'VE EVER HEARD... just wanted to point that out.
yes, i did stretch it a bit but approach is the same, this is essentially the way, the US gov't is no diff from a co., for a co. thats what u do in a debt restructuring, at one time there were fancy names like "resurrection." i can understand your initial disbelief, i've seen it before in the face of stock owners, its unfortunate but every bit true
In every "debt restructuring", SOMEBODY GETS HOSED. In a $USD revaluation, that "somebody" will be "nearly 100% of US citizens". How can that be a good thing?
there u r 'nearly,' go back to part where i call it diabolical. still, i won't be surprise some whiz kid come up with newer fancy ways to repackage a sovereign debt
You appear to have more "hope" and "confidence" than sense. Doing something "stupid" while "hoping it somehow turns out OK" has a lot to do with the mess we're in. (Kind of like raw-dogging it with street walkers and hoping you don't come down with an STD)