That's why all this madness will continue.
Not one (in our lifetime) of the major trade partners is defaulting.
And they are not likely backing their currency (officially) with AU.
It'll be more of the same for a loooong time.
And, the same means, no inflation affecting pencils. Only impact is on food and energy,roughy 40% or more of your paycheck. $50 veal chops. $1,000 Christmas trees. $10 coffee.And a movie night out with wifey, a large coke and popcorn, about $60.
BTW, frozen Absolut wasn't bad.
Defaulting does nothing to fix the structural problem which is spending roughly $100 billion more than we tax on a monthly basis. If we defaulted on the entire debt subject to the congressional limit, we would be in the same sorry condition in 16 years extrapolated linearly and probably a shorter time given the irresponsible proposals put forth by our untrustworthy politicians and Federal Reserve. Then what, default again?