The good news for Americans is that the dollar has been saved yet again by the Chinese and is safe investment as a link on Drudge points out:
China rules out ‘nuclear option’ on T-bills. Dont let the omnious headline fool ya. It's all good: "China has delivered a qualified vote of confidence in the dollar and US financial markets, ruling out the “nuclear option” of dumping its huge holdings of US government debt accumulated over the last decade."
So all those doom saying can relax, they have been proven wrong yet again. But that's not the important part realty, as much as I love to point out about those doom sayiers. The important part that even Drudge missed on is the obvious one: China, a Communist country(everyone agrees they are) is saving USA's bacon yet again. Humph, anyone see the screaming irony here? Communism is saving capitalism! I bet Marx and Lenin are having the laugh of their post mortem lives right now. Yeah.