Bankruptcy or not?

Bankruptcy or not is a good question. For people, corporations it is different from countries to declare that there is no more money. When a person declares that he/she is broke, there are certain government protections and they can have credit cards or loans for about seven years. When a corporation goes bankrupt, there are stages depending on the levels of defecite...monies owed...People will suffer pay cut give backs, firings and layoffs. When a government goes under, it takes such a long time because there also stages. Usually the country will try taxes. Other times it will print more money but in the long run this create more defecite because people in that country would buy less with the same amount. What to do? very complicated because counties are very large and in counties live people that have needs for services. Many people are used to the services offered in the country they live in. When there need to be cuts in the services or increases in the taxes charged people usually go ballistic. Boston tea party all over again. Looking back the colonists were upset at paying taxes for no services. Today we are to the same situation when we declared independence. The taxes have gotten so high that many times does not justify the minimal amount of goods and services supplied. Again, people will suffer taxes, less buying power, unemployment, more homeless, more cuts in basic services(health education and welfare). So for the greater good in all cases there appears to be suffering. For those that have not planned right....they usually extend the middle finger to this news. For all the others it is a lesson, that with proper planning nothing more than a slight adjustment in their diets will occur. Lobster and steak everyday are not good for our health anyhow....So belt tightening means more soup and vegetables and lower cholesterol and diabetes, blood pressure and obesity problems. Eat less save more, this means more money far ahead more savings. Wow! What a novel idea... All I can tell you that the world is moving forward and progressing and people are eventually better but in between the good times and bad, people suffer.