Iceland didn’t default. They simply refused to pay for the losses of three privately-owned banks.
Sovereign default is a very different animal from not bailing out loser banks.
Having said that - it’s as the article says. America need not default on August 2nd. It can just cut institutions and sell assets. Hell, it could devalue the currency.
Agreed. That is what we would do as a family, or a small group. That is what works. Do it on the big scale. It will work.