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i expect that at some point the dollar will collapse and the american govt will be bankrupt. at that point everything breaks down, america goes into the worst depression the world has ever seen( its heading there already.. trust me) and civil unrest breaks out. it could be a neo fascist type takes over and reorders the american way of life, or it could just devolve into another civil war(  far more likely than most europeans realize, as the differences between the rural and industrial states culturally are much larger than most euros realize) and eventually balkanizes into  6 to 10 smaller countries...


Life is not a dress rehearsal
by johnfire (johnfire@christopherrehm.com) on Sun Mar 7th, 2010 at 06:12:12 AM EST
[ Parent ]
at some point the dollar will collapse and the american govt will be bankrupt

The US doesn't have much debt (public or private) denominated in currencies other than the US Dollar, so the government can only go bankrupt if the Fed makes the political decision to let it go bankrupt.

However, the US is a net importer so a collapse of the dollar would be painful for consumers.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma

by Migeru (migeru at eurotrib dot com) on Sun Mar 7th, 2010 at 06:24:10 AM EST
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