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.
