Maybe the central banks can give them really low interest rate loans like they are for all of Wall Street, the Big Three, the USG and about 30 or so countries that can’t meet their obligations? This is an epidemic, a sickness that has metastasized on an international level.
The good thing for the banks is they created the money out of thin air. They technically did not put up anything. So it’s really just a paper work thing for them. The banks probably prefer it if people default because it just gives them more control and the just create money with a key stroke anyway.
The IMF and World Bank have been pulling this scam for years on 3rd world countries. Load them up with debt, hope for default and get resources, property of intrinsic value and influence over political decisions in it’s place. It’s the scam of the century.
Personally responsibility is key but it’s kind of undermined when you have a coordinated effort to promote irresponsibility by the MSM/Wall Street-Fed/USG axis, this happens when debt is your main export and need it to keep the economy running.
We have a fundamentally sick economy. One that relies on continuation of debt creation just to keep from collapsing. We have reached the end of the line. This is the twilight of irredeemable debt.
