It is happening everywhere

Forget The Yield Curve, It's Argentina's Collapse That Highlights The Market's Biggest Problem

From Hong Kong, to YellowVesters. The same problem, double entry accounting applies compound interest penalty, make debt costs unaffordable at some point. So we have these governments in some competition, and they ignorantly use debt, and inflict a suppressive force on the economy.

The solution is inevitable, default. So we want to make defaults a bit more expected, make people aware, put the generational defaults in the pits that we can hedge them.  The last thing we need is the 'This time is different' crowd.