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> And then they would just forget about it and let bygones be bygones, I suppose. Not at all. They'd remember and never loan us money again. Given our spendi
by anamax 16y ago
> And then they would just forget about it and let bygones be bygones, I suppose.
Not at all. They'd remember and never loan us money again. Given our spending habits, that would be a good thing.
Or maybe they would loan money in the future if they decided that was in their best interests.
Remember, other countries have defaulted and gotten loans later, some more than once. Why would this be any different?
- anigbrowl 16y agoIn a nutshell, because the Chinese take that sort of thing personally. I do not think you are really serious, if you consider this course of action credible in in either fiscal or strategic terms.
- anamax 16y agoI am serious. You're assuming that the Chinese will be benevolent if we don't default and aggressively malevolent if we do. That's naive. If they're willing to be aggressively malevolent, they'll be so without an excuse so it's absurd to worry about excuses. If they're unwilling, their worst is actually good for us - it will force us to live within our means. BTW - A US-class blue water navy is really hard to build. So, the likely malevolence is nuclear.