The American people clearly spoke, and the drubbing Democrats received requires looking beyond just issue polls, voting patterns, campaign strategy, or get-out-the-vote tactics.
odious debt
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“Don’t Owe, Won’t Pay”: Why Everything You’ve Been Told About Debt Is Wrong
No street protests are necessary, no confrontations with riot police, to stop payment on a credit card or student loan – the financial system is vulnerable to a few million mouse clicks.
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Extortion in Argentina: Odious Debt Is Pillaging the Nation into Bankruptcy
The lesson is this: if creditors know that a few holdout vultures can trigger a default, they're unlikely to settle with other insolvent nations in the future.
