but I don't see this as reasonable.
If china collapses our dollar - we could pay off our debt very easily. If the dollar has no percieved value, then we would just print 16 trillion and pay off the debt.
It would actually be like filing bankruptcy - would suck for a year or two - but in the long run we would be better off - we still have VAST natural resources so are not exactly a Greece, Spain etc, etc.
Of course, if your president was a complete ass and decided that paying off fake debt with faker money is bad taste and decided to trade our assets, well that could be a problem.
What are one of those really neat nuclear carriers worth anyways?
Maybe Alaska - hell they all hate Palin anyways.
I can see Barry doing that.
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