It's not anymore question of ''if'', but ''when''.
Nobody knows exact timing. Nobody knows exact consequences. Everyone who says he's smart enough to know about this, is a liar.
Why I care about all of this ? Well, the effect of this unfortunate event in USA will be felt all around the World. Immediatly. Remember October 2008 ?
This time will be worse. Here's a movie about one of those scenarios :
Most Americans are naive enough to believe that because the U.S. has survived for so long with such a huge national debt and continuous budget deficits, the country will be able to continue down this path forever without any consequences because after all, this is America we are talking about.
The truth is, US national debt has grown by 70.7% over the past five years, compared to 41.8% during the previous five years, and 14.3% during the five years before that.
Meanwhile, US GDP has grown by 17.9% over the past five years, compared to 27.5% during the previous five years, and 32.9% during the five years before that.
Americans gone from their GDP growing more than twice as fast as their debt, to debt growing at nearly quadruple the speed of US GDP.
A train wreck is getting ready to happen and this train wreck is literally unstoppable.