The tide is certainly turning. Uncle Sam is steadily losing the top perch especially in terms of how the rest of the world perceives them.

Listened to one analyst quipping about how Greece's debt per capita is below that of the U.S.A. Is that really true?

The US is not going to default and if they do it would not be by default. We all know that Republicans are trying to dangle the carrot at the poor black president but they'll come to their senses. As I'd said earlier If they do default it would be to hurt China who is the biggest creditor by country to the US with over $1trillion. Don't underestimate the US, they set the standards under which we all operate when it comes to economics.

That said, I was watching Piers Morgan jana and he had an interesting guest who eluded to say China is slowly becoming the new US with their kids studying all over the world and topping their classes. While Americans spend a big part of their budget on their military, .5m soldiers deployed out of the US, the Chinese are only spending on research and new technology and weaponry.

A chinese leader was interviewed and he said "rather than kill you, I'd rather have you as my friends so I can make products you need and sell to you, that way we're all happy". Now isn't that simple logic? What do you have in your house that's made in America? And what do you have in your house that's not made in China?

China and US are joined at the hip. A default would mean China's rapid ascent will be jeopardized.

Currently, China is the biggest holder of US debt instruments followed by Japan.

That's why China is jittery about US devaluing the dollar!

But i wonder what a US default would portend for Africa?

...According to 14th Amendment, section 4 of the US constitution, it is unconstitutional for US government to default on it's debt obligation. How amazing is the US constitution keep it up to whoever wrote it.