And fools rush to say this is a stupid idea.
No. Or not necessarily.
While we are in a period where countries have been absolutely hammered for defaulting or restructuring on debt, the historical record is that countries often benefit from doing so. Germany, for example, very much benefited from it after World War II.
US law controls. If the US government changes US law, creditors can go pound sand trying to collect.
There is a constitutional issue, of course, and as such it may not be possible, but it is not, de-facto, a stupid idea.
And yes, people will still lend to the US after a restructure. There is far more money in the world than there are investment opportunities.
Trump often says stupid and/or objectionable things, but something is not stupid and/or objectionable just because Trump says it. In many cases, he is making common sense statements which no one else has the guts to say.
And please shut up about how the Bush’s and McCain and Romney and so on are not going to be at the convention. Who cares? Trump said that Bush Jr., for example, failed to protect the US from 9/11 and then invaded Iraq when he shouldn’t have and then fucked up the war. You expect Bush to go to the convention after Trump told the truth about him?
A truth, I might add, that any left-winger worth his or her salt agrees with and has said repeatedly? Not to mention that any decent left-winger should despise Bush Jr. His not endorsing Trump after Trump ripped him a new one is not an indictment of Trump.
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