Since the debt monster is expanding rapidly all over the world we may end up with a global Wiemar Republic. It is likely that our geniuses at Treasury and the Fed have already made plans for a default on US debt. Likewise Europe and Asia, the question is only, who will go first? Somewhere our friends and allies are plotting to dump the dollar as the global reserve currency. That means we, who have abused that responsibility, will go first and get the blame for tipping over the row of dominoes, tapping the house of cards, shining the light on the kitchen full of cockroaches. Meanwhile, the gang in charge will stall, deny the impending disaster–and raid the cookie jar like the execs at the NYT, knowing the party is about over, the bill is coming due, the fat lady is about to sing.
