“Debt Default” versus “Bankruptcy”:

The Editor has been using the term US government “bankruptcy” in terms of the events that are likely to occur in the next decade.  Technically the US government cannot go bankrupt because it can simply continue to print more currency; the more accurate term is “debt default”.

That said, one of the reasons we are in the current mess is that economists generally write for other economists, not the general public, and look where we landed!

Click to read Dr. Jim J. Tozzi’s initial entry in AMERICAN MEN AND WOMEN OF SCIENCE

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