Cute, but no-one is going to try to seize any "assets", whatever you are imagining they might be. What will happen is instead this: that the Fed would bail them out to avoid a chain reaction, or that the state will have to go to the IMF, cap in hand, and accept an austerity program in return for further assistance, just like any other state that can't pay its debts.
The Nimitz, I'm afraid, is not going to be doing much of anything except its normal trick of sitting there and costing USD$440k per day.
> that the state will have to go to the IMF, cap in hand, and accept an austerity program in return for further assistance, just like any other state that can't pay its debts.
According to the CIA World Factbook, Mexico has 5.5% unemployment, public debt 37.7% of GDP, 3.6% inflation, and it’s a net oil exporter. So Mexican sovereign debt looks like a reasonable investment, as these things go.
Reading this article has reminded me that I know absolutely nothing about economics and finances.
Can someone recommend some reading material that'll make the article more legible than ancient Greek graffiti? Preferably a short crash-course, rather than seven books I'd have to get on inter-library loan?
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[ 12.6 ms ] story [ 703 ms ] threadThe Nimitz, I'm afraid, is not going to be doing much of anything except its normal trick of sitting there and costing USD$440k per day.
Will the IMF loan to a US state?
Can someone recommend some reading material that'll make the article more legible than ancient Greek graffiti? Preferably a short crash-course, rather than seven books I'd have to get on inter-library loan?