“I’m not saying it will be Mad Max (more like The Road? jk). But Argentina is not really a good parallel. This is unprecedented, largely because of the worldwide nature of the problem.”
I hear you, but not as worldwide as you think. China will lead the way (even without as much in exports to us, and I’m sure they understand now that our debt is worthless), and then other countries WILL take the necessary steps to get out of the mess. The problem will be here, with a government that has INTENTIONALLY caused this crash and profits from it.
“I hear you, but not as worldwide as you think. China will lead the way ...”
Maybe, but China has every appearance of being a massive bubble (warehouses full of products bought by the govt to boost spending numbers, newly built ghost cities, etc.).
But I agree that the problem may be more severe here, largely because of our large entitlement class and the violence we can expect when the checks stop arriving, and when the corner stores are empty.