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Re: Re: And Now Presenting Chairman Bernanke
by Anonymous
I guess that is one solution, but I would expect the results to include global trade wars, perhaps some shooting wars, rapid and permanent devaluation of the $, and third world style hyperinflation in the US. For good or for ill, the world does business primarily in $ and the financial markets are global in nature. Confidence in the $ and the backing of our national borrowing with the full faith and credit of the US government is a foundational pillar of world wide economics. Assuming that defaulting on our national debt would not have far-ranging negative impacts seems to be unrealistic.
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