American Default? – Georgios Ardavanis (Ph.D.)

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The failure of the American economy is a concern for both Janet Yellen, the US Secretary of the Treasury, and Bank of America CEO Brian Moynihan. The USA, however, made defaults in 1932 and 1934. Debt restructuring was the term used at that point. Also, the United States defaulted in 1971 when it left the gold standard because it could not manage the massive debt accumulated due to Lyndon Johnson’s war on poverty and the Vietnam War.

Hence, Americans have already experienced default. Nevertheless, no one in the USA today wants to acknowledge such horrible and destructive facts. So the US government runs in circles and says Americans must pay their debts. Americans have to pay their debts. Americans have to pay their debts.

CEOs today are still determining how they will deal with a potential default.

Regarding the bond market, nobody is telling the whole truth.

Regrettably, Americans still need to view things from a comprehensive perspective. Any representative from a typical population who cared about the USA would raise these issues and ultimately push for President Joe Biden’s resignation and the dismissal of his administration due to their ineptitude and dishonesty.

In American cities, there is no longer any respect for the law. How much crime do you want to see in the USA? What quantity is acceptable?

It appears that Americans have concluded that some illegal activity is now acceptable. The USA’s economy is supported by the rule of law, which has elevated them to greatness and strength. What about all the businesses and jobs that have been relocated abroad? Have they returned? What actions do American politicians take? The United States must awaken. For the survival and security of America, these problems are crucial.

Everyone in Washington appears to enjoy giving uplifting speeches because they are the populace’s opiate.  

On that note, don’t you think politicians must be held accountable for their incalculable negligence and mendacity? 

 Georgios Ardavanis – 06/03/2023

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