The one of Haifa in 1937...
Interesting. So I live in the most wealthy, and prosperous country in the world.
I also live in the country which is the single greatest supporter of Zionism.
And you say Zionism is destroying the world?
I think I'd like a ton more destruction, please. At least your version of it.
Hardy the most the wealthy due to the fact of your debt factor and the enormous amount of your population living close to and below the poverty line....if all your debt called in today....you would be living in Mud Huts....just sayin...steve
Not really.
First off, it's impossible for them to call in our debts. Government bonds, do not have a call feature.
At worst they could sell their US bond, which would drive down bond value, causing the cost of borrowing to go up.
Even then, we could simply restructure the bonds. Additionally, many governments that own our bonds, also owe bonds. We could even work out a swap. I'll cancel your debt, if you cancel ours.
If things really went bad, we could simply print money, and pay back our debt with newly minted cash, which devalue the currency.
The worst possible outcome, is that the government has to cut spending on social programs.
That would hurt only the people on social programs.
Luckily we're not like Europe. Most people drive cars, so cuts to subways, public buses, and light rail, wouldn't have the devastating impact it would in Europe.
The people who will be the most affected, will be those who retired on Social Security alone, and thus are already living in poverty. By most estimates, they would lose 1/3rd of their already tiny Social Security check.
Given that they already are living in poverty, they likely will need help from family or getting a job.
But nothing here spells out an apocalyptic doom. Of course that's based on the situation today.
Thanks to ObamaCare and other programs, government is slowly pushing more and more people to become ever more dependent on government.
So who knows... maybe someday in the future we'll be so dependent on government, that when government implodes, we do end up in mud huts.