The US must declare bankruptcy, as apparently threatened by Donald Trump some years ago. I don’t actually remember that but I’m sure it happpened – James Kunstler has a good memory for such things.
But, erm… Jim? JIm, Jim, Jim, Jim, Jim. If the world ever got wind that was likely to happen, they would all dump their dollar commitments and expect to get paid, in erm… I’m not sure what form of currency. Wouldn’t matter really, because all money, all non-gold-backed money at least, would be worthless. And even if the world was not able to act in time, the same thing would result. It’s a house of cards, or perhaps something even less stable than that.
Everybody, including Americans, would become paupers overnight, scrabbling to exist in a world where nothing worked any more.
Now, I’m not saying that would be a bad thing, in fact, one way or another, we need that to happen. We badly need that to happen. So that we can start again, after all the turmoil and destruction and death it would bring had ceased, starting with a clean slate and with a community based on promises that we could keep. Not to mention a fresh round of honesty and a fresh view on life and its expectations and demands on us and our time. No more meaningless ‘work’ or ‘jobs’ to hinder us. Just good honest labour poured into the tasks needed to sustain ourselves, keeping body and soul together in a now naturally hostile (to human life) world – much as we began before civilisation was formed – only in a world deformed by our previously wasteful, decadent and destructive existence.
But I think you already know that, Jim.
“The Sum of All Broken Promises” – Kunstler