IT’S COME TO THIS: Role reversal: Latin America taunts US on debt woes. Hope and change!

UPDATE: Federal Reserve Actively Preparing For The Possibility Of U.S. Default. Somebody needs to be sure that banks have plenty of cash on hand, because if there’s a default, I expect we’ll see bank runs, and the only way to deal with those is to shovel out the cash until people feel secure.

Plus, Ron Paul: We Will Default, Because The Debt Is Unsustainable.