So the American Government need another $1.8 trillion on top of their debt of $15 trillion, which they will never ever be able to pay!! Just like you or I, but on a larger scale, if you cant pay your debt then,eventually nobody will lend to you and you get lack listed!! The alternative, these days is to declare oneself bankrupt or as countries do it, default.
I wondered when the IMF was formed, just what would happen if a country could not or even would not pay. Did they sit down with a map and crayons and say, 'well, we will take this island and this bit of land, in part payment and if you continue not to pay, we will return, to take this state or that one.' Just as a bank will arrest income or take your house from you.
America is heading for default. As China owns most of the American debt, what will they do? Invade? Alternatively, America goes the way of the Weimar Republic and to buy bread, will require a wheel barrow full of paper money!! Interesting prospects.
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