alt Hacker NewsAfter the bailouts of 2008, I think the only thing to fear is that the US government will fail first. As long as they can afford to keep big businesses going, they will. Whether things will get bad enough that the government can't afford to do that is an exercise to the reader.
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deadbabe • today at 4:55 PM
US Government won’t fail. They can certainly just default on all debt and keep on going like many other countries. It will be a shitty country going forward, but not a failed one.
The best thing you can do is diversify assets to be prepared for that scenario, so you do not fall into the hell of a permanent underclass, in perpetual servitude.
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I mean, we are approaching the point where the government can't afford to do that. Debt is near $40 trillion, and debt held by the public has recently just slightly tipped over 100% of the US GDP, so we are long past affordability.
Interest payments on US Debt are already $1T annually. If GDP stops growing faster than the interest rate on the debt, we're "cooked" as the kids say.
If we lose reserve currency status, we are equally screwed.
A big tech bailout isn't going to look like a big cash injection. It would look more like total asset seizure and nationalization of those companies.