Quote Originally Posted by Thailandnotes View Post
huh?
Yeah, this one seems off/odd to me too. Don't anyone remember the old J. Paul Getty quote? "If you owe the bank $100 dollars, that's your problem; if you owe the bank $100 million, that's the bank's problem."

Say the US does go "bankrupt." So what? Who's coming to collect if they say no? It'd be like the bookie pressing the mob boss for his vig. You'd get laughed out of the room if you didn't get a kick in the ass along the way.

In the entirety of human history, no Hegemonic nation has failed like Venezuela. That only happens when you're small and you get pressed by guys bigger than you. The biggest empire in the world only falls by corruption. The wealthiest get greedy enough to topple the system for themselves, or the poor get pressed enough to open the gates for the Vandals, or the several groups of the empire's own people they've wronged in the past break free at about the same time in a moment of weakness.

I can't think of any good reason why the USA's turn as the fat man on this chart would end any different than anyone else's. I think too many people drank the kool-aid about the idea that the USSR went bankrupt or something. It didn't. Old Gorby thought loosening things up would be good for business. But all it did was let non-Russians in the USSR organize against Russia. Then he basically declared a booze prohibition in 1985. The result was the Russian Mafia. Finally all those little eastern bloc countries fell out of the union. But don't forget, their economy grew and was largely doing fine until 1990. It was the crack-up of the union that broke them, not bankruptcy.