Re: I suspect they hope to rely on the usual "diplomacy"
I knew someone would have to be a smartass, but the US is nowhere close to insolvent. Now a country like Venezuela is probably a 50/50 bet to default on its debt in the next few years, but it's sort of a tradition that some South or Central American country will do that once a decade, so we're due.
People will bring up Greece, but the only reason they would have to default is because they can't devalue the euro. If they had never joined the EU, they would have done that years ago and been just fine. The EU is an object lesson on why a currency union without a fiscal union is ultimately doomed to failure. The question is whether the EU will heed that lesson by becoming a fiscal union (might be easier now that they don't have to keep hoping they someday get the UK to sign up as a full member) or Germany will remain stubborn until a few countries are forced to leave to fix their economies and the whole thing collapses.
Biting the hand that feeds IT
