It’s important to look at the situation from a few different angles.
To start with is the international, national government, and corporate angle. Despite their incredible craftiness and willingness to promise everything to everyone, they face an insurmountable problem: just because they declare (literally) hundreds of trillions of dollars to exist, doesn’t mean they are worth anything. No gimmick can overcome this.
This means that market forces will force them back into a state of order, and all anyone can do is watch. So no real worries, here. They can be as swinish or treacherous as they want and it will change nothing.
However, from the personal point of view, America is well off. We have lots of housing, food, and police and military security. With these three things we may not be happy, but we are not collapsing either.
This gives us a big buffer to reorganize and get our economy working again.
The big obstacle is if we try to keep our enormous debt, or the bad promises of largesse that the government made to the people, that it had no authority to make in the first place. We have to accept that those are both over and done.
This means renouncing the national debt, and canceling Social Security, Medicare and Medicaid. Done cleanly, the individual States can pick up the pieces, and protect the utterly impoverished and helpless. But there has to be a recognition that the federal government should never have tried to do that, and can never do that again.
What you say makes sense: Cancel all of the debt simultaneously and start over. The implementation is another matter entirely. While I appreciate we shared common sentiment, neither of us have a magic wand.
Sounds like a great plan to me. This is going to be a tough sell politically and we need an organized voice with a clear platform and plan of execution. Where do we start?
Thanks