Countries don't have debt: people have debt. It's a grave mistake to believe you can forego the debt of all countries and that it wouldn't affect any single ind

Countries don't have debt: people have debt. It's a grave mistake to believe you can forego the debt of all countries and that it wouldn't affect any single individual. Its more than a grave mistake, its the exact opposite of reality. On the other hand of any debt there is a creditor that has an asset in their balance sheet, and it has to be a human being, however obscured by beaureacracy. > No, it just means causing the realization of a risk whose perceived likelihood was already priced into the asset. And debt has collateral, to get ready to sell governments by parts to the creditors that will demand them.