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The US has the option to not default, but don't forget what libertarians are like. Instead of choosing to print money to avoid default, they may choose to defau
by immibis 2y ago
The US has the option to not default, but don't forget what libertarians are like. Instead of choosing to print money to avoid default, they may choose to default to avoid printing money.
Also, other countries that printed away their debt hyperinflated their currencies, which is just as bad. Even the US can only sustain its level of anti-debt-printing because it's the global reserve currency, and to be the global reserve currency, it needs to have massive trade deficits. Do you see an incompatibility with the way the current regime thinks?