The way the debt is growing, it will either soon equal all the wealth in the world, or the currency of the debt will lose tremendous amounts of value. Since the world will not be ‘owned’ by us, this currency is finished.
The best course would be a deflationary collapse, so that there is a widespread and easily available form of money available. Somehow carrying around bags of gold just seems far fetched.[/quote]
Last I checked, the US national debt was about 60% the US GDP. Which is a lot, given that the US GDP is the largest in the world. But it’s also more or less in line with other well-developed nations (Britain, France, etc.)