Oh, I'd agree that things would fall apart, the only real question is: how long do we have? There are certain infrastructure components that are designed for long life that might go quit awhile - say, hydroelectric generators attached to dams, such as the ones in Venezuela. In the purely hypothetical situation that a stupid and malicious socialist despot took control of such a country and nationalized industry, handing control of these components to cronies who failed to do any maintenance or repair, those still could last awhile. Say, just about a decade. Say, until just about now.
So yeah, you're right, it does all go down in the end. Venezuela isn't necessarily our future...but it isn't necessarily not our future either.
What worries me, Bill, is a complete collapse of confidence in the dollar.
With the economy strangled by regulation to the point we’re no longer an exporting nation, the US would be hard pressed to survive until industry could turn things around.
And it’s all so unnecessary. The US is blessed with an abundance of energy resources that could pretty much turn our economy around on a dime.
Things are unbelievably grim, yet government continues to whistle past the graveyard.
The average American is well aware that the US is in trouble. It’s the ivory towered intellectuals that continue to believe it’s possible to build a castle on a foundation of sand.