Love the article and agree with what you said about the debt never being paid back.
But this isn't quite so binary. As a father myself I don't want my kids to be in a worse situation. But defaulting will just sacrifice a different group of people. There are plenty of middle aged people who have NO CLUE about what's coming. I'm related to some. They believe the stories their financial planner tells them about their retirement in 15 years based on their social security payment and the modest growth of their 60/40 portfolio currently valued at $100k. These people aren't rich, have little to no saving, and have worked and saved most of their life. And unfortunately don't have 30 more years to accumulate. How do we prevent them from becoming collateral damage?
If we default, inflation wipes out everything not nailed down. Be ready to be generous if you have any wealth left with those blindsided by this. I think we go back to multi-generational households. Might not be that bad, come to think of it.
Good luck out there.
Lisander
npub1vw…hfdvl
2023-05-13 13:28:57
in reply to nevent1q…llrt
Author Public Key
npub1vw8zaz8efw0vmyg5pyddt68csue0l8hl9nnpcrtlaldafxpac8ys7hfdvlPublished at
2023-05-13 13:28:57Event JSON
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