As you have said elsewhere, it depends on the US economic situation which is of course up in the air.

I do, for my family, feel relatively safer where I sit today (France)  than where I sat three years ago (the US) but, that's just a personal judgment, I guess.


Fai de bèn a Bertrand, te lou rendra en cagant

It will probably land somewhere in between, though precisely where is impossible to forecast with any degree of precision.

You are right, of course, that in the event of a total collapse, the fact that the Treasury is on the hook for a trillion North American Pesos won't matter. But there's quite a broad range there. An order of magnitude and a half, in fact. So there's plenty of room for it to go plenty wrong even if the real economy only collapses a little bit.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.