| Soundwave said: The US is too big and too vital to the global economy to be allowed to fail it's that simple. Who's going to buy all that crap made in China? Who's going to eat all those cheeseburgers and get 100 pounds overweight? The world needs the US, lol. If the debt ever got to a point where it serious impacted the US' vitality, basically what I think would happen (someone else mentioned it) is that debt would just be wiped clear and everyone would agree to start at 0, because the alternative is simply non-feasible. |
The US and Japan have too much debt, so that they cannot fail. See, if the banks stop lending these two countries money like in the case of Greece, and USA or Japan do a haircut or go bankrupt, the banks will lose enormous sums. The truth is - greece has too few debts to be a real risk for global banks. That's different for US and Japan. So banks will lend them more money in fear to lose the sums they already have lent them.
