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I am not. The US government will never default (why would it?). The only way a default might occur is if the dollar will cease to be the default world currency

I am not. The US government will never default (why would it?). The only way a default might occur is if the dollar will cease to be the default world currency. And this will only be done by force. Since the US outspend the world 10x on military spending, I do not see this happening.

Bomaz 5y ago
why is force the only way for that to happen?
credit_guy 5y ago
The actions of the US government are a result of conflicting intents of thousands of individual actors, or maybe millions. Some of these actors are engaged in a game of chicken with other actors, and sometimes the outcome of such a game is not pleasant. Especially if those who play the game don't stand to personally lose anything if the end result is nasty. But, just for your entertainment, just watch this space (i.e. the US debt ceiling debate) for the next one month. And decide for yourself if a US Government default is impossible or not.
- david927 5y ago
  I'm shocked at the cavalier attitude I'm seeing here in these comments. There's a sense of entitlement. The US gets to put anything on its credit card that it wants at the expense of the rest of the world, without the concern of solvency, and if you don't like it, well, talk to my army? Is that moral? Will it last? Do you really think that 10x spending means getting 10x as much? Do you realize how much corruption and "hospital pricing" (e.g. $100 Advil) is in that? For so many, large changes seem impossible. Every empire in history was assumed to last forever. Every pride of lions has an alpha until it gets weak enough compared to the next usurper. His reign lasts years and years, and then changes in a moment, forever. The petrodollar wasn't going to last forever. Why would anyone think it would? The Nixon Shock always had an expiration date. You realize that three weeks ago the Saudis signed a military agreement with Russia, right? The Fed clearly can't raise rates so it's been "printing". US debt was 5 trillion in 2000, it's 29 trillion now. Don't read the next sentence if you don't want a spoiler. It's over. A lot of people still don't know it, but it's over. It's that moment in the chess game where you simply trade pieces. As the comment above said, watch this space for the next month. Lenin had a great quote about times like these: "There are decades when nothing happens and weeks where decades happen."

Bomaz 5y ago

why is force the only way for that to happen?

credit_guy 5y ago

The actions of the US government are a result of conflicting intents of thousands of individual actors, or maybe millions. Some of these actors are engaged in a game of chicken with other actors, and sometimes the outcome of such a game is not pleasant. Especially if those who play the game don't stand to personally lose anything if the end result is nasty. But, just for your entertainment, just watch this space (i.e. the US debt ceiling debate) for the next one month. And decide for yourself if a US Government default is impossible or not.

david927 5y ago
I'm shocked at the cavalier attitude I'm seeing here in these comments. There's a sense of entitlement. The US gets to put anything on its credit card that it wants at the expense of the rest of the world, without the concern of solvency, and if you don't like it, well, talk to my army? Is that moral? Will it last? Do you really think that 10x spending means getting 10x as much? Do you realize how much corruption and "hospital pricing" (e.g. $100 Advil) is in that? For so many, large changes seem impossible. Every empire in history was assumed to last forever. Every pride of lions has an alpha until it gets weak enough compared to the next usurper. His reign lasts years and years, and then changes in a moment, forever. The petrodollar wasn't going to last forever. Why would anyone think it would? The Nixon Shock always had an expiration date. You realize that three weeks ago the Saudis signed a military agreement with Russia, right? The Fed clearly can't raise rates so it's been "printing". US debt was 5 trillion in 2000, it's 29 trillion now. Don't read the next sentence if you don't want a spoiler. It's over. A lot of people still don't know it, but it's over. It's that moment in the chess game where you simply trade pieces. As the comment above said, watch this space for the next month. Lenin had a great quote about times like these: "There are decades when nothing happens and weeks where decades happen."