Why a U.S. Default Will Be a Good Thing - Money Morning

"BY MARTIN HUTCHINSON, Contributing Editor, Money Morning
Now that Standard & Poor's has finally slashed its U.S. credit rating, it's more apparent than ever that a U.S. default is imminent.

So if you're at all panicked by S&P's decision to downgrade the country's top-tier credit rating - and the resultant freefall in U.S. stock prices - brace yourself: It's going to get a lot worse before it gets better. But make no mistake, it will get better.

In fact, at this point, a U.S. default is the only conceivable remedy to our debt affliction.

Here's why ..."