The “sovereign debt crisis” simultaneously afflicts the US government and the governments of a significant number of other major nations/economies. In essence, the “sovereign debt crisis” means that a “sovereign” (a government) is so deep in debt that it can’t possibly pay all of its bills. That means that such governments are insolvent and technically bankrupt.
What happens if such governments actually default and become overtly bankrupt? That’s hard to imagine, but it might mean that the alleged “sovereign” wouldn’t merely be embarrassed but might actually cease to exist. What would replace it?
What happens when governments are so prone to pushing more regulations and a greater police state, that their people come to loath their own governments? Would a people who’ve come to loath their own government be more open to some other entity that sought to replace their constitutional governments? Is the modern police state intended to increase the powers of government? Or is it secretly intended to so alienate the people that they’ll come to hate constitutional government and cheer its destruction?