cashe Wrote:
Jan 12, 2014 1:06 AM
No country has gone bankrupt in modern history. That is because we do not have a global bankrupcy court nor rules for settling debt and liquidating assets. People like Mr Hawkins like to use the term bankrupt for its shock value but it has no real meaning in this context. Unfortunate countries like Argentina have defaulted on their debt. Some countries might default on their debt in the near future, but I doubt America will.