Living in Greece has become incredibly tough right now... :-(

[mirgro]

Akvod said:

mirgro said:

See you are not getting my point. If people wanted their money back in a few years, shit can really go down hill. Even if people want half of the debt back, things will get ugly. That's about 6 trillion out of the economy, hell even a quarter of 3 trillion will be very devastating. The US won't default, but it will get very miserable.

Bonds don't work that way.

Yes they do. Once the maturity, usually 30 years, is reached you can get your money back whenever. Guess what, 30 years are about to be up from the shitstorm that was the 80s. Another thing to keep in mind, the Public debt is only a bit more than half of the gross debt of the US, and the private debts are nowhere near as well protected as bonds are by the maturity gap.

Also I can't help but laugh at your solution. You are basically saying "yeah the US will be fine, when we have to pay off this credit card we'll just charge it on another credit card." I mean, did you seriously suggest that?