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Agreed. How do people conclude that refusing to pay your investors makes them invest more? It must be the same people who thought that walking away from your mortgage improves your credit rating.
If you weren't so lazy, you could look up the outcomes for spendaholic countries: what happens before, during and after default, and then you'd know.
The Chinese shouldn't have been so foolish as to buy that much debt, given the American people were likely to elect a big printer and spender.
But they did and now they are not buying US any thing any more. The house of cards Bill Clinton sold is about to fall apart. The housing scandal was OWNED by Bill too.
With the left holding their heads firmly under the sand and their asses up this is gonna be one hell of a ride.
I hope you have hands on skill sets hard coin cash and supplies stored. The whine from the have nots who never got ready is going to be stunning.
The PC and the left will be riot ready in the streets. I plan to love that show.
This should finish off Obama and his BSin's real quick.
Monday, 14 October 2013 The looming prospect of a US default on debt prompted China to call for the world to “de-Americanise”, amid warnings of a new global recession.
In China, Xinhua, the official government news agency, said that as American politicians continued to flounder over a deal to break the impasse, “it is perhaps a good time for the befuddled world to start considering building a de-Americanised world”.
The jibe came as Christine Lagarde, the International Monetary Fund chief, raised the spectre of a repeat of the 2008 financial crash as hopes dwindled for a resolution of the crisis over the debt ceiling and partial government shutdown.
Yep, thank you Tea Party. Who would have known that they are the most anti-American force around? I'm not surprised at all. They are the successors of Jefferson Davis and the rest of the Confederate hacks of old. The tea party is still fighting the Civil War 150 years after Appomattox.
Yep, thank you Tea Party. Who would have known that they are the most anti-American force around? I'm not surprised at all. They are the successors of Jefferson Davis and the rest of the Confederate hacks of old. The tea party is still fighting the Civil War 150 years after Appomattox.
That makes no sense. Not paying your bills gives you no leverage with you bill collectors.
The analogy is broken from the outset because national economies and private finances work differently, but there's still the old saying - if you owe the bank $10,000 and can't pay, you have a problem. If you owe the bank $100,000,000 and can't pay, the bank has a problem.
The analogy is broken from the outset because national economies and private finances work differently, but there's still the old saying - if you owe the bank $10,000 and can't pay, you have a problem. If you owe the bank $100,000,000 and can't pay, the bank has a problem.
No matter who many times you tell those obsessed with questions of government debt and finance, it goes in one ear and out the other. Government debt and budgets NEVER work the same way as a personal credit card or the kitchen table budget.
The GOP remind me a lot of the boy who killed the golden goose. They are both about as equally bright. Countries around the world have already started to wean themselves off the USD. Some countries are using Canadian dollars for international trade, it's pretty incredible but it's just a case of the world in general losing faith with the US government.
It's likely to get a lot worse before it gets better. As long as they is a powerful political force in the USA that deliberately sabotages it's own economy and it's own interests I think the country is in trouble.
The way things are looking though, this sabotage of the country should end after the mid terms when the RWNJs are reduced to an irrelevant rump and are likely to stay that way for a long time.
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