Do they not pay interest on some, or default on a whole series? Is the problem fixed by simply not sending out Social Security checks? Who has a link to the real knowledge?
why treasurys rally on the basis of a default seems pretty crazy. ultiimately if you hold any paper that you are not receiving any interest on and is worth less than you paid for it you would sell it. but in this algo driven market the fundamentals of trading do no make money. this is a re run of greece on a monumental scale that will be played out over many years. bottom line. the usa does not earn enough money to pay the debt back.
If the US defaults on its bonds, the fair thing would be that bondholders get to do the same thing as anyone else who defaults on their bonds. They should get to liquidate assets. The US owns 50% of all the land and mineral rights in this country. Bondholders should get to forclose on that stuff.
Ever notice how the majority of the land and mineral rights the government "owns" is in the mineral-rich West? (And just how is it that the government came to "own" certain lands? Confiscate them from states?)
Yeah, I second that. We should sell off all our assets at firesale prices, just like in Greece, since it worked so well. We should impose stiff austerity, continue to reward the international banking cartel that engineered the financial crisis, and sell off and "privatize" any remaining infrastructure, so that Americans can face endless inflation, and live the rest of their days in the resulting Orwellian police state. /s
" The US owns 50% of all the land and mineral rights in this country" do you mean America was not capitalist even before Obama got elected and decided to take the US down the peronist path of Argentina.
are u a republican or democrat? If u are a republican, why do u care? the republican principle to eliminate all gov domestic social programs, cut tax, and lower debt. If u are a democrat. u should be worry.