No, I was referring to the power of the financial sector in the USA over the US government, which, as best as I can see, will prevent us from stopping the financial death spiral we appear to be entering.
I think that it may be out of their hands, actually, now that US creditors and suppliers are talking to each other.... "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
I don't really understand this very well at all. For instance, with Mortgage Backed Securities, continuing to pay the dividends or interest on these securities is one thing, but what are their maturities and what happens when maturity is reached. Are all of them 5 years or longer? As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
