Government Default

... auf Deutsch: »Staatsbankrott« (gemeint: der USA) — ein durchaus lesenswerter Artikel von Gary North bei Lew Rockwell:

Should the U.S. government default?

Wrong question.

The right question: Can the U.S. government avoid defaulting? The answer is clear: no.

It will default. It is $222 trillion in the hole. That’s the present value of its future obligations.

Of course it’s going to default.

Would that be bad? Not for taxpayers. Would it be bad for the Powers That Be who run this country? Yes. Devastating.

Would it be bad for federal bureaucrats? Yes. They would lose their jobs.

Would it be bad for people who are dependent on the federal welfare state? For a while, yes. But they will recover. Necessity is the mother of invention.

It’s coming. The mainstream media have ignored this statistically inevitable problem. The problem threatens the Establishment as no other. So, the media pretend it does not exist. But the blackout may at long last be cracking. (Hier weiterlesen)

Die gute Nachricht daran ist, daß dieser Bankrott eher die Machthaber, den Speckgürtel der Beamtenschaft und der Sozialhilfekassierer träfe, als die leistungserbringende Mittelschicht. Na, hoffen wir, daß es wirklich so sein wird ...