westcanforum

not sure how knowledgeable i am about world finances.....only the bankers really know how bad it is.......but i am a student of history and certainly in the past when countries and governments have been placed in impossible positions they tend to lash out as a final recourse.....as some point the USA will reach that untenable position.....it is most certainly their own fault but nevertheless they will arrive there.......so the question becomes what will they do when they have exhausted all other options and the easiest one on the table is simply refusing to honor their debt obligations.....i think they, in conjunction with other western democracies will at some point choose the default option......if they do it together then they will be able to at least retain credit worthiness among  themselves......from their point of view there will be much wailing and knashing of teeth from the populace but probably the lesser of two evils......if they were to go that route think of the weight taken off their economies if they simply canceled all their debts.........or at least postponed paying interest payments for some term say 10 years.....................

XJ...sorry but i wrote out a two page essay dealing with what i thought would be the response from the three main debt holders......China, the Saudis and national band holders but i pushed a key and it all disappeared and i am too pissed to do it over again....**** windows 7...............i want XP back again