[zeestephen]

We are watching the dress rehearsal for what is about to happen to the bondholders and pensioners of the US government.

[Hardastarboard]

their proposed plan to pay bondholders, pensioners and other creditors holding its $18 billion debt substantially less then they're owed.

Or less THAN. Either way. All the editors have died.

We are watching the dress rehearsal for what is about to happen to the bondholders and pensioners of the US government.

Yep - except that the Chinese hold, last I heard, $600 billion of our debt. They're not going to bow politely, swear a bit quietly in Mandarin, and walk away.

[SkyPilot]

We are watching the dress rehearsal for what is about to happen to the bondholders and pensioners of the US government.

I think you are correct.

I am sure Congressional, Presidential, and senior government executive pensions will be nearly or fully "funded." Most others, including Social Security, will probably be screwed. Same thing for bondholders.