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[–] 5 points 9 months ago (4 children)

it would be the bank's problem if burgerland stopped borrowing money. Instead they keep going because they can't fund themselves. I wonder what could happen if nobody lent them any more money.

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  • [–] 6 points 9 months ago (1 child)

    Then the US defaults, the dollar craters, and the trillions european countriesbhave invested are instantly worthless. Gone. Disappeared.

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  • [–] 15 points 9 months ago* (last edited 9 months ago)

    At a certain level, economics are just about good will.

    If the whole world sees that the US don't want to pay, on mutual accord, we can decide that they don't owe anything to anyone, effectively cancelling the debt.

    After that, the US will remain out of the rest of the world without the possibility of borrowing any money at all.

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  • [–] 2 points 9 months ago* (1 child)

    it takes two to tango, both parties willingly participated in this exchange

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