The Unraveling of the Global EconomyMarch 8th, 2009 by nick
Many governments will be overthrown. Global debt default is coming.
I have no idea what the consequences of global debt default will be, but I believe we are headed there, like it or not.
The world is bankrupt. That’s what happens when you declare bankruptcy. You default on all your debts and start over. It has just never happened before that the entire world became insolvent all at once.
At some point, when everything else has been tried and has failed, we will all, public and private, declare bankruptcy, and the new order will be born. Nobody has any idea what it will look like.