Wouldn’t it be better if all the world’s major countries just did an etch-a-sketch? None of the sovereign debt is ever going to be repaid. We already did the 7 point plan back in the 1980’s with the savings and loan bust, but the system wasn’t overloaded, like it is now.
We’re gonna get a depression anyway, from all the badly allocated capital. Might as well lay the foundation for a decent recovery, eventually. that can’t happen in the USA with $15 trillion in debt and $100 trillion in unfunded liabilities, not to mention trillions more in individual and corporate debt, and hundreds of trillions in derivatives.
Eventually, it is all going ‘poof’. Might as well be now.