Default? Nawww. Huh???..........from Rico

The governments of every major nation ARE going to default on their debts. There are only two questions:
- 1. How?
- 2. When?

Nawwwww!!!

Of course, government establishments DENY this. They have gained power by the expansion of government.
- Politicians LIE. Voters believe them. The mendacity of governments never changes or abates, nor does public gullibility.

Governments have become universally Keynesian.

The LIES:
- Treasury debt will keep its AAA rating.
- Treasury debt is backed by "the full faith and credit" of the US government.
- Inflation can be controlled.

Anyone who cares to look (rather than watch Prancing With The Stars or Katie Couric) is familiar with the unfunded off-budget liabilities and the on-budgt Fed debt...which are impossible now to ever repay.

So? Default HOW?
- Outright default. Not very likely, but i would have said this about our debt levels a year ago, too.
- Selective default. Congress repudiates major benefit promises rather than US debt.
- Inflation. Mass (up to 50%) or Hyper (sky's the limit..think Zimbabwe). Mass inflation seems more likely over the next decade. Since inflation is a HIDDEN default on political promises, our pol's can "blame" speculators or greedy businessmen instead of taking the responsibility themselves.

So...Zimbabwe option OR another Great Depression?
- My guess is that Central Banks will bail out their largest banks and try to avoid hyperinflation, while accepting mass inflation and at some point refusing to further bail out their respective governments.

Hey, wait!!! We're almost there now!!! Hmmmmm....guess I may have inadvertantly put the tail on the #2 donkey (infra) "when" just now.

Those who do not see this coming will be scratching their....er, heads and saying "huh?"