Why is there no debt crisis in the United States?

Why did the United States, the world's largest debtor country, not only fail to have a debt crisis as serious as that in Europe, but spend a lot of money when the European debt crisis intensified, with frequent debt crises in Greece, Iceland, Ireland, Portugal, Italy and other European countries, and the government credit dropped sharply or even collapsed? There are five reasons: first, the United States has passed on the debt and inflation crisis by virtue of its unique dollar currency advantage. The dollar is the core currency in the world today, but the distribution right is in the hands of the United States. The Federal Reserve Bank in the United States is not a simple central bank. Unlike many other banks, the Fed makes dollars and can issue them without any restrictions. As the world's reserve currency, the dollar is a symbol of wealth. Almost all countries in the world regard the US dollar as the main reserve currency, and the US dollar is widely used in the world economy. The quantitative easing monetary policy adopted by the United States is actually to start the printing press to print a large number of dollars and export the depreciated dollars to other countries in the world, especially emerging economies. The pressure of the depreciation of the dollar is constantly passed on to other countries, making it more difficult for these countries to control inflation. Second, the United States has the best capital market, the best universities and the most dynamic institutional design in the world. Soft power and smart power are more capable of resolving the crisis than hard power. The American capital market is unique in the world and can stand the test of wind and waves. It has powerful genes to condense capital elements and is the internal stabilizer of American economic growth. The United States has most of the top 500 universities in the world. These universities are not only economic entities that resolve their own risks, but more importantly, the achievements and ideas produced by these universities lead the world trend and are enough to resolve various debt risks that threaten the United States. The institutional model formed in the United States for hundreds of years has become an important part of human civilization, and its unique and dynamic institutional design has become a template for the survival and development of the capitalist world and a model for those emerging capitalism to follow. It can be said that the United States has an effective firewall and blocker to prevent the debt crisis. Third, the United States has the population and quality to support economic growth. Population is the main variable of a country's competitiveness. The population of the United States ranks third in the world after China and India, with 20 1 1 reaching 320 million. Developed countries, such as German and Japanese, have not only reduced their population, but also entered an aging stage. Emerging economies, such as China and Indian, have also aged. Only the United States relies on immigration policy, and its population is increasing year by year and young and energetic. Not only that, the United States uses its strong economic strength and superior and stable institutional environment to attract outstanding elements from various countries, nationalities and different skin colors to the United States, so that the United States has a talent team with the strongest innovation ability and the most stable psychological state. This is the human capital to ensure that the United States is unlikely to have a debt crisis. Fourth, the United States relies on the war machine to solve the debt crisis. The United States has the most powerful war machine in the world, 10 Nimitz-class aircraft carrier controls the world's oceans, the most advanced satellites, fighter planes and stealth aircraft control the space, the most well-equipped army controls the landing field, and nuclear weapons and missiles control every corner of the world. Relying on these hard powers, the United States has established more than 90 bases around the world and fought several wars in Afghanistan, Iraq, the Middle East and North Africa. These wars need to burn a lot of money, but the United States relies on its ability to give orders in the world, pass on the war costs, sell arms and weapons, and earn war money, making the United States more and more rich. War has become a means and tool for the United States to solve the domestic debt crisis. Fifth, the United States is rich in resources and has strong scientific and technological strength. It is the most innovative and competitive country in the world, with the most advanced industries and the fastest-growing companies in the world and unlimited solvency. It is by virtue of its strong hard power and soft power advantages that the United States exploits other countries' wealth in a hidden way of "financial innovation", maintains its own economic growth, builds the world's confidence in it, and attracts high-quality factors from all over the world. Huge capital flow, talent flow and commodity flow flooded into the United States, which maintained the prosperity and stability of the United States and drowned the impact and influence brought by the huge debt of the United States. Relying on the status of the US dollar as an international reserve currency, the United States has long relied on debt to maintain economic development and domestic consumption, plundering the hidden wealth of other countries and bringing huge additional benefits to the United States. However, this long-term harmful way, in the long run, is no less than drinking poison to quench thirst. Once the United States has "path dependence" on borrowing, the "debt snowball" will get bigger and bigger, and eventually it will inevitably overdraw the confidence of other countries in the United States.