Jack of Harts

The problem with the Twenty First century economy was that it worked too well in some ways and did not work well at all in others. It locked the greatest economies with bonds that would destroy all of them if ever broken, but did not convince the common citizens of that fact. The citizens of all of the great powers believed in their hearts that they could survive better if they vanquished their enemies rather than converting them to partners. And so when the American federal government could no longer afford to pay the interest payments on foreign debt while also paying internal debts, they faced a no-win scenario built up by a century of forever seeking the easy way out of any hard economic decision. Their citizens demanded an end to foreign debt payments in favor of spending money on Americans. They elected a new slate of politicians angry enough with the same-old political theater that they did the unthinkable and simply wrote off America’s debts. America’s creditors did not take that well.