Comment on USA officially bankrupt (insolvent)

Lemmyoutofhere@lemmy.ca ⁨3⁩ ⁨weeks⁩ ago

• DmMacniel@feddit.org ⁨3⁩ ⁨weeks⁩ ago

  and yet a country has to pay back debt (hi greece) and when they can’t they are bankrupt.

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• marcos@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

  Bankruptcy is a legal term, whatever the law says that can be bankrupt can in practice be bankrupt.

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• trxxruraxvr@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

  It doesn’t need to be a business to be able to go bankrupt. Governments have incomes, expenses and debtors. They only can’t file for bankruptcy to get out of their debts, which makes it worse for the country.

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  • marcos@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

    They only can’t file for bankruptcy to get out of their debts

    Countries do that all the time… well, not really all the time, but most decades at least one does it.

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    • trxxruraxvr@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

      What countries do is not the same though. At least in the Netherlands when a company files for bankruptcy the judge will appoint someone to sell all the companies assets and try to pay back the debtors.

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