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> The US Government has never defaulted on its debt under the current (~75 year old) global financial system. Except for 1979: * https://www.reuters.com/artic

> The US Government has never defaulted on its debt under the current (~75 year old) global financial system. Except for 1979: * https://www.reuters.com/article/usa-debt-default-idUSN1E76A0XA20110711 https://www.reuters.com/article/usa-debt-default-idUSN1E76A0... * https://www.theatlantic.com/business/archive/2013/01/heres-what-happened-the-last-time-the-us-defaulted-on-its-debt/267205/ https://www.theatlantic.com/business/archive/2013/01/heres-w... * https://archive.is/jKayD https://archive.is/jKayD

calgarymicro 3y ago
> technical default 32 years ago was blamed on check-processing glitches and quickly corrected . . . affected only a tiny percentage of maturing securities at the time. Not exactly the same thing.
- jdasdf 3y ago
  A default is a default is a default. Doesn't matter the reason. Doesn't matter the justification.
  - EatingWithForks 3y ago
    Actually I think the financial system doesn't function as a rigid categorization structure. I think it's more like a negotiation of resource management. Things like leverage and political power apply here in ways that cause the rules to become far more flexible. A powerful government like the United States commands far more favorable (good faith) experiences with finance than, say, a person who is late on paying rent due to the same checking error.