Ones gonna start the other. Does it matter?
Society is ready to go now, but the bean counters can keep the balls in the air for a long time with help from Washington. Money will come due soon enough,, but I am not seeing the signs of it right now.
The cities on fire, interstates and air travel shut down, and food rationed by Homeland Security can happen and the financial folks will still make money, but when our creditors stop accepting our IOUs , then the economy crumbles and ceases central operations and goes to local/black market economy, eliminating payments to the Federal Government (fed workers lose jobs) and the house of cards built by the Fed Reserve, the IMF, and the various other international financial institutions go off the rails. This is the part that will be a while in the making,,,and can be avoided....hopefully.