Comments by "bj0rn" (@TheLivirus) on ""It's Going To Be Catastrophic!" - Will The U.S. Default On Its Debt?" video.

@Apollo23 It means US simply let's its creditors know that it will not pay its debt. They could do this, because what are creditors going to do about it? The consequence is that it will be very difficult to convince anyone to lend them more in a long time. Their credit rating will plummet.
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@GreetingsWithFire Are you familiar with Mark Blyth? He cowrote the book "Austerity: The history of a dangerous idea". You'll find plenty of him talking about this on YouTube.
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