Tuesday, August 02, 2011

Is Default A Big Deal?

In the midst of some Tennessee reaction to the debt ceiling agreement/arrangement, Ken Marrero discovered something interesting about default:

Meanwhile, Nashville area blogger and conservative activist Ken Marrero has discovered in his research that, lo and behold, America's biggest debt-holder, the People's Republic of China, defaulted on its old debts and apparently remains in default, yet that nation is in an increasing position to challenge America's place as the guarantor of global hegemony. China survives, so could America have survived "default," and did we act too soon?

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