There will be a glut of foreign lending, at low interest rates, because the dollar will seem undervalued.
The nation depended too much on foreign lending.
Major American banks are announcing overseas losses, which might force them to retrench on domestic as well as foreign lending.
Banks displayed the most confidence in China, where foreign lending grew to $63.1 billion, from $57.9 billion, between last June and December.
Already, several of country's largest public works projects, financed by foreign lending, are in jeopardy.
Already, China must grapple with a drought of new foreign lending even as its economy slows to its lowest growth rate since the early 1990's.
But over the next decade, we may be forced to raise interest rates simply to attract foreign lending to finance our budget deficit.
But, if foreign lending were to stop, you will have a very serious problem that is much better solved now rather than later.
When the foreign lending stops, Americans will lose 4 percent of their current consumption.
Greece would still be uncompetitive within the euro, and may start to build up a renewed debt mountain, courtesy of foreign lending.