Yeah USD is holding up in relative terms, unfortunately, I don't get paid in dollars lol, I have to live with South African rands that do far less each year, and the effects are compounding.

Technically yes no government should default, but if they're not getting support from the IMF there's no change, Argentina is a prime example. Unless you're cosy with the issuers you're not getting the support you need.

It is indeed a debt trap, I look at these numbers and I try to apply it to myself like what if I was 445% in debt, I'd wonder how I was even allowed to keep borrowing but then again country should last many life times versus a person.

I don't know, I just think if it was all math-based and not faith-based and the fact that we're all systematically tied to it, it would have fallen apart by now

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