The Treasury just declared the U.S. insolvent (opens in new tab)

Exactly. It’s commentary, not even an article. The big number is GDP and the is and will continue to be the most significant by a large margin.

Exactly! and no small amount of money is being set aside either:

https://en.wikipedia.org/wiki/Military_budget_of_the_United_...

And as you would expect in a Fortune Mag article, the "solution" of this budget shortafall is to fuck the people more.

Reigning in the totally out of control budget for incinerating people should have come long ago, but is unspeakable for major shareholders of the people incineration industry.

Or using the thing that no right-wing talking head is ever going to acknowledge in resolving budget shortfalls, increasing income (i.e. taxes)

This is especially true given the modern massive wealth gap, in which the highest earners pay a fraction of the percentage paid by working people.

All money is a human construct, exactly like the easter bunny, there is a whole set of arbitrary "rules" and conditions required to get chocolate, basicly everywhere, but in the one situation you have to be small and credulous, or put on agood act(usefull later in life) to get chocolate, and in the other the construct has become non optional and will be enforced on you as soon as you are no longer a credulous believer in the easter bunny, and this is what you are refering to, the non optional partisipation in an arbitrary human construct. The latest twist bieng the introduction of the idea that whoever has the most, very large complicated numbers, wins, also known as crypto.

But bonds and the Dollar could become nearly worthless

The good news is that a currency issuer cannot become insolvent. This is literally just semantic libertarian scare propaganda. I strongly urge you to watch Stephanie Kelton's interview on The Daily Show a few years back to calm your mind a bit.

https://www.youtube.com/watch?v=1JpZZcD8C4M

Meanwhile, let's step back a bit... if we pretend that the US is insolvent - a repo man is going to come take it away with a big truck - do you really think that the US treasury is structured in a way that allows them to hold back something that significant because the national mood is anxious and they don't want to make people feel extra sad on a Monday? Seriously: wth.

Moreover, the great con was to convince people that the US debt is a liability, as though there's someone who is going to come and repo man your country with a truck.

At the macro level, debt is one of the most powerful tools that a government is entrusted to deploy. It's literally how you grow an economy.

Oh c'mon! We know that. Good Lord, if a country's debts were held elsewhere, it'd be the Trump administration trying to repo someone first for Nato money or other some fool reason.

Meanwhile,there are in fact actual, bonafide, tangible problems to financial stupidity you're quip forgot to address.