I contemplate the possibility of a second American revolution in which the generations of Americans subsequent to my rotten Baby Boomer generation simply repudiate all sovereign debt (foreign and domestic) and start a second American Republic, based on constitutional principles.

The most radical outcome of this whole mess, and one I wouldn’t blame them for.

But this would be, in essence, an act of war against our major creditors (e.g., China).

What, then?

It is hard to know whether to hoard cash, pay down debt, or buy non-perishable food items to store in the basement with credit cards you never expect to pay off…