Oddball
Unobtanium Member
Hard to say what it would look like, as I can't think of a modern analogue....Maybe the Confederacy?No less big than the eventual economic collapse that will ensue, when the mathematics can no longer support paying American debts, a massive domestic welfare state and the interest on the FRN funny money Ponzi scheme.Ah, I didn't articulate what I meant well enough then. When I said in the black I meant the annual budget.
I have no idea what would happen if we told the Fed to shove it under either scenario but whatever it is I suspect it would be big.
I can agree with that but would it resemble that kind of a collapse?
Suffice to say that the people who relied upon money-out-of-thin-air to support their lifestyles, on both the borrower and lender ends of the equation, would be in for a serious reality check.
Of course, this would also open up immense opportunities in the worlds of private lending and marketing of debt instruments.