First, it is internally inconsistent. If the FDIC is going to be overwhelmed, the $ 100K coverage won’t help.
No ... that's why I said, in the second half of that very same sentence "likely resulting in more national debt." In other words, I'm guessing they will honor that $100K insurance, but will have to get some additional funding (more debt and inflation) to do so.
And, this type of doomsday argument has been set out every few years for as long as I remember (late 50s till now).
Yup - which doesn't make it true or false. One actually has to look at the present facts to see what's likely this time. The mere presence of optimists or pessimists proves nothing.
The market adjusts, until it breaks. And true, no one can predict with certainty. Odds are good one of us is wrong. Neither of us would wager our first born as to which one of us it is who is wrong.
May our paths cross in ten years; I hope that you're the one proved right. But I am arranging my affairs for the contrary.