Who really cares? Yesterday, the United States El Presidente' waved his magic wand and made debts disappear into thin air. Contracts?? We don't need no stinkin' contracts. I suspect that his majesty's ruling will be challenged in court at some point in the future.
The United States of America is fast becoming a nation overwhelmingly inhabited with deadbeats who buy and sell things using a currency that is backed by nothing more than the full faith and credit of a nation of deadbeats. How it continues to enjoy triple A ratings from Standard and Poor, Moody's and Fitch is beyond me. Why developed nations would continue to accept the dollar as the world's reserve currency is astounding.
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