I guess I am not sure what you mean by “them” when you say you don’t see “them” lettng everything go BK.
There is not an us and them. There are borrowers and there are beneficiaries. We are a nation of borrowers. We have not always been that way, but looking back will not help.
You can look at it in a sad but somewhat honest opinion which is generally great nations generally implode rather then get defeated. I am not saying this is our fate but I think we live in a period of history where historical events happen much quicker then they used to.
I am hopeful we will change our ways. You hear alot of talk about the economic cliff that we are approaching at the turn of the year due to expiration of tax cuts and reduced spending. In all honesty, to me it may be a welcome sign of some much needed discipline.
