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> They're at debt levels consistent with fighting in WWII [0]. And what happened to the US after WWII? Without looking it up I seem to remember it becoming the
by astrange 3y ago
> They're at debt levels consistent with fighting in WWII [0].
And what happened to the US after WWII? Without looking it up I seem to remember it becoming the only superpower.
> It is going to get paid back banana-republic style.
Our debt is denominated in our currency and people accept that because they like our currency.
We have indicators of whether or not people trust us there and they look OK, unless you thought we were about to collapse in 1990.
https://fred.stlouisfed.org/series/REAINTRATREARAT10Y https://fred.stlouisfed.org/series/REAINTRATREARAT10Y
> Fingers crossed the US is about to enter a period of peace-by-lacking-affluence rather than something ugly happening.
Who's lacking affluence? The 2023 US economy is the best US economy of my or most people's lives.
And since the economy isn't a morality play, good performance doesn't automatically mean it's about to fail.
I would rather use Argentina as an example. They've done as bad a job as you can possibly do managing their economy, defaulted several times, and even that result is not that bad. Everyone still lends to them even. When you're a country, you don't have to be on your best behavior, because there's no other planet for the lenders to move to.