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Old 12-01-2010, 07:50 PM
 
2,996 posts, read 4,758,222 times
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No doubt we as a nation are in for some very very rough waters ahead. What will happen if this grim situation gets worse and how much more can the U.S. endure ?
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Old 12-02-2010, 02:42 AM
 
Location: In a state of denial
1,289 posts, read 2,583,683 times
Reputation: 942
We are headed no where good. We will be in a double dip recession, if not depression.
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Old 12-02-2010, 04:28 AM
 
48,519 posts, read 81,076,846 times
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What it means is that we are headed to some real suts in spending .whether today or even mroe tomaorrow. Then it is good for jobs when it will alos take raisng revenues which sucks jobs out fo teh privte sector also.Its really no different than what a family has to do to pay offf credit card debt and it will mean years of less coming from federal governamnt plus less disposable income for private sector.But ti can be done and will soner or later and later means more pain overall.
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Old 12-02-2010, 10:04 AM
 
Location: Orlando, Florida
43,858 posts, read 43,582,247 times
Reputation: 58603
Greed can never govern itself. It has to be starved out with a slow painful death.
I'm not sure there is anything we can do other than letting it take it's course.
And it isn't just the USA, the whole world is in a financial crisis.
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Old 12-02-2010, 12:02 PM
 
2,996 posts, read 4,758,222 times
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Quote:
Originally Posted by GloryB View Post
Greed can never govern itself. It has to be starved out with a slow painful death.
I'm not sure there is anything we can do other than letting it take it's course.
And it isn't just the USA, the whole world is in a financial crisis.
It certainly appears that way considering Britain, Ireland, Greece, etc...

What happens if we tick China off somehow and they demand FULL repayment of all loans made to the U.S. ?
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Old 12-02-2010, 12:15 PM
 
Location: Austin, TX
708 posts, read 2,363,012 times
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well i thought our debt came from bonds meaning that they're paid back on a set date or w/e? also meaning that, as long as other countries keep purchasing our bonds, out debt will coninually increase as the economy does. idk though maybe i'm just misremembering my eco class =p
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Old 12-03-2010, 04:01 AM
 
Location: In a house
5,230 posts, read 7,324,123 times
Reputation: 2558
We deserve it, who votes these clowns in? What we need is to gut Washington & the federal gov't but it wont happen because so many are very happy with todays upside down economics and its handouts.

As far as China calling in our debt I guess we'd just have to not pay, just as was done to us many times over in the past.
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Old 12-03-2010, 01:19 PM
 
3,129 posts, read 5,145,716 times
Reputation: 1588
END THE FED!!!

The Fed's corrupt polices have ruined us!
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Old 12-03-2010, 09:13 PM
 
Location: Tucson/Nogales
16,490 posts, read 20,028,338 times
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Quote:
Originally Posted by 007.5 View Post

What happens if we tick China off somehow and they demand FULL repayment of all loans made to the U.S. ?
We'll then need a Passport and Chinese visa to visit Hawaii........and various Alaskan islands.
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Old 12-04-2010, 02:00 AM
 
24,748 posts, read 26,817,884 times
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Quote:
Originally Posted by lndigo View Post
well i thought our debt came from bonds meaning that they're paid back on a set date or w/e? also meaning that, as long as other countries keep purchasing our bonds, out debt will coninually increase as the economy does. idk though maybe i'm just misremembering my eco class =p

Yes, that's true. But things can change very quickly. Those foreigners who've been buying US bonds can change their minds at any time. In fact, this is what happened in Greece & Ireland. One minute, people are willing to buy their bonds. A few months later, they're not. When you have high levels of debt, the interest rates you have to pay on your bonds don't have to spike all that much before you're insolvent.
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