>>The interesting thing is Russia assumed all the debt of the soviet union. ever wonder why?>>
That’s pretty typical. When a country changes governments, the new government doesn’t get a clean debt slate.
This stuff is all carefully designed to get the casual human to just walk away and presume it all makes sense.
https://youtu.be/LtFyP0qy9XU?t=54 Voila
NO, they didn’t have to. It was a new govt. The other satellite countries did not.
Russia proactively assumed the debt. Why?
There is going to come a time when we can’t pay off our debt. What will happen?
What is the essence of bankruptcy? (not the set of federal rules)
Sovereign bankruptcy can and does happen. What does history teach us?
The bankruptcy of the USSR is an interesting study.