After discovering piggington & then going down the rabbit hole into other related sites, I came to believe that the US will default on its debt during my working lifetime (in my 30s now). I then established a 15 year plan that would, to the best of my ability, allow me to be as lightly affected as I could expect when this eventually happens. I am 2 years into this plan.
On the one hand, debt as a pct of GDP is large but not excessive by either international standards or by historical standards. However, the blogosphere is so riled up right now I am somewhat concerned that I have substantially less time than I first thought.
Allay my fears, piggs! (in b4 not your personal army)
US cannot and will not default on its debt. That debt is denominated in US dollars and we own the printing press. Famous examples of mega-default (Russia 1998, Argentina 2001) all involve countries issuing debt in currencies other than their own.
US cannot and will not default on its debt. That debt is denominated in US dollars and we own the printing press. Famous examples of mega-default (Russia 1998, Argentina 2001) all involve countries issuing debt in currencies other than their own.
US cannot and will not default on its debt. That debt is denominated in US dollars and we own the printing press. Famous examples of mega-default (Russia 1998, Argentina 2001) all involve countries issuing debt in currencies other than their own.
US cannot and will not default on its debt. That debt is denominated in US dollars and we own the printing press. Famous examples of mega-default (Russia 1998, Argentina 2001) all involve countries issuing debt in currencies other than their own.
US cannot and will not default on its debt. That debt is denominated in US dollars and we own the printing press. Famous examples of mega-default (Russia 1998, Argentina 2001) all involve countries issuing debt in currencies other than their own.
