U.S. May Join Germany of 1933 in Pantheon of Defaults

bloomberg.com - by John Glover - October 14, 2013

Reneging on its debt obligations would make the U.S. the first major Western government to default since Nazi Germany 80 years ago. . .

. . . “These are generally catastrophic economic events,” said Professor Eugene N. White, an economics historian at Rutgers University in New Brunswick, New Jersey. “There is no happy ending.”

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