>Doug Henwood wrote:
>>
>> So how will this be resolved? With
>> a dollar crisis and capital flight, leading to an externally imposed
>> austerity regime? A big question as the U.S. economy recovers...
>>
>
>Has such an "externally imposed austerity regime" ever occurred in which
>powers that might impose it were under the military occupation of the
>power on which it was to be imposed?
All they'd have to do is stop buying our securities. Would the Marines parachute into trading floors in the City of London and demand portfolio rebalancing at the point of a bayonet?
Doug