Possible outcomes:
Disintegration (@outsideness style)
War
Totalitarian oppression
I don't see how America avoids one or more of these outcomes in the next 60 years.
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Replying to @HbdNrx @Outsideness
Don't forget occupation if China or others decide to come and personally collect their debts from the heirs of the deadbeat Yanks.
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Collect the debts? US government cannot default
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Weimar-style international debt sleazing through currency debasement is entirely possible -- and even probable -- though.
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Of course it's possible but why would US government do that since it cannot not pay it's debts (unless it chose to)?
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Just printing more money to pay debts is the obvious first option, and that's the cause of the inflation outsideness refers to
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Creating more currency is inflationary pressure, taxation and issuing bonds removes that pressure
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Issuing bonds only does a little bit. Cash flows to the govt, but it's replaced with a bond which may be treated almost like cash. This is why QE wasn't actually massively inflationary.
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Lack of demand is a major problem. There is something rotten on the banking system
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