Self-Test: Sarcasm or not?
I have to admit, things sound pretty grim. But don't panic. Remember, the US is the biggest economy in the world. If we go down, so does everybody who buys or sells us stuff, as well as everyone who borrows from us or loans to us. Even "strong economies" like the Chinese are only strong because they sell and loan to us. Without us they have fighting in the streets and a pissed off yuppie class, and they know it. We are the ultimate case of "too big to fail". One way or the other, the world will bail us out, not because they are nice guys, but because they will have no choice.