Yup.. 2 Seconds later the US declares bankruptcy... sorry, not buying it...![]()
Who said bankruptcy...I said financial panic...probably protracted very severe and a contraction of the economy in face of the closure of its Export markets and loss of revenues thus derived and the discontinuation of its major source of financial investment. That doesn't mean that no financing can be obtained...just that the likely sources for it are few...and almost certainly at a hefty financial premium. It will be extremely costly affair for the Americans. French or Belgian banks are probably the only source with sufficient capital reserves but it won't come cheap.
The federal gov't would have to depend increasingly on higher taxation.