[unable to retrieve full-text content]In this discussion, Michael Hudson argues that the real financial threat to the U.S. isn't government debt but rather private debt, especially the student debt crisis, which is exacerbated by policies that prevent bankruptcy relief. He explains that government debt, particularly U.S. Treasury securities, is actually a highly sought-after asset globally, held by foreign central banks and wealthy investors, and is unlikely ever to be fully repaid. Hudson emphasizes that the U.S. can print money to cover its debts, creating an illusion of financial risk that doesn't truly exist. The post Debunking U.S. Bankruptcy Myths first appeared on Michael Hudson.
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In this discussion, Michael Hudson argues that the real financial threat to the U.S. isn't government debt but rather private debt, especially the student debt crisis, which is exacerbated by policies that prevent bankruptcy relief. He explains that government debt, particularly U.S. Treasury securities, is actually a highly sought-after asset globally, held by foreign central banks and wealthy investors, and is unlikely ever to be fully repaid. Hudson emphasizes that the U.S. can print money to cover its debts, creating an illusion of financial risk that doesn't truly exist.
The post Debunking U.S. Bankruptcy Myths first appeared on Michael Hudson.