“The good news is such a wakeup call will weaken the US regime, potentially forcing policymakers to embrace a more sane fiscal and monetary policy.”
this will hopefully stop the international bailouts
The bad news is our prices will triple or worse for everything we buy. Say goodbye to your savings.
Bkmk
Have you been keeping up with the “news” lately? Ukraine?
They are borrowing money from say, China, and giving it to say, India. Or Ukraine. Or whomever.
There will not be a different Global Reserve Currency. If they drop the dollar there will be NO Global Reserve Currency.
Last year 11 BILLION TONS of shipping crossed the planets oceans. What happens when they have to switch to Gold or Barter?
Blame it on global warming.