Quote:
Originally Posted by McLovin
From a purely economic and social perspective.
Politics aside, i.e., putting aside who is to blame, what can be done to fix it, etc.
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We can hope to have a mature discussion here, but I'll bet this thread gets sent to the kiddie pool in under 20 posts.
I see no change things will be "fine." Paying the interest on $100 trillion will cost more than we can produce. We can print money, but it will be essentially worthless. Inflation will be rampant. People with means will have moved to another country. The US will possibly be bailed out (taken over) by the countries we owe the money to. There is an association of countries that hate the US and already want to replace us as the world leader. If they own enough of our debt, and get together to call it all at once, the US will become a protectorate of Russia, China, etc.