US default on its debt and the future of the US

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  • #20473
    blake
    Participant

    We probably all agree that the growth of the US government isn’t sustainable. At some point, the government won’t be able to borrow the money it needs to borrow or print the money that it needs to print in order to meet its financial obligations. So I’m assuming that we’re heading for default at some point. Is there another possible outcome?

    Assuming that the US government is heading for default, I’ve heard someone suggest that we’re inevitably heading toward a breakup of the US, either because of this default or because of other reasons. What do you think about that US breaking up scenario? What would that breakup look like? Calexit seems to me to be a potential example of part of that breakup.

    #20474
    jodybright58
    Participant

    Though no responsible individual welcomes default on a legitimate debt that is not the case here. We have a government that has successfully deceived every party in accumulating that debt with the assumption that it is legitimate.

    The good thing, if you are correct, is the potential for decentralization. That government fought a war to centralize and consolidate authority to itself. We have been living in the aftermath of that consolidation for 151 years and on this course of financial and structural bankruptcy this entire time.

    If centralized government is the culprit it only seems logical that decentralization may be the answer. We know that many of the founders considered it essential. I welcome it.

    #20475

    I am no clairvoyant, but I surely do not believe that the USA will break apart because of a default…..it has happened before and we are still here. But the main question is what will the country do to get back to solvent, and that is something that SHOULD scare everyone because they will clearly have to find ways to scrape wealth from the citizens.

    How is the question, and that is our task to divine so that we might step aside and be spared. BTW: This strong desire will more likely cause a strengthening of the central powers as people quake in fear and look there for a savior. (but they needed to look to the past for the easy solutions are all back in time…..at that point there will only be difficult and unpleasant solutions….and you don’t want to be rolled over)

    We need to be invested in some form of productive capacity that will not be taken from us.

    #20476
    dan0
    Member

    The idea of exiting bankrupt nation states seems like an accelerating trend. I agree that a break-up is in the cards at some point. Here is an article I wrote on the topic.

    https://wyattstorch.info/2019/10/its-an-anti-rational-world/

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