“Even so, despite the potential for a financial meltdown, an American debt default might be precisely the kind of jolt that the global economy needs. It would be a powerful reminder that total borrowing can’t simply keep on rising forever without any consequences.”
USAGOLD note: An unusual, and some would say dangerous, take on the prospect of a US debt default, but not one without merit. The global tower of debt was $210 trillion in 2010. It is $300 trillion now and projected to be $400 trillion by the end of the decade.