America's debt

[Bundy]

Is there really any way it can be paid back? Why not default now instead of way laying the agony.

 

[McBain]

Where's Hibbo?

 

[ChicagoToffee]

If we default, so do a whole boat of banks, countries, massive companies. If the US defaults and T-Bills become worthless, whole lot of people eating a crap sandwich.

 

[ChicagoToffee]

This thread is also a potential popcorn fest so let's not get all righty / lefty on this thing, eh kids?

 

[McBain]

I want to hear what Hibbo has to say on this subject.

 

[evilwebby]

Is there really any way it can be paid back? Why not default now instead of way laying the agony.

part A: There's no way that they can even stabilize the level of debt, never mind ever begin to pay it back!

part B: Default = USD dollar collapse and worldwide hyperinflation

 

[Moomin]

The system is crazy, we need more money in circulation so lets print it on more debt.

 

[BlueLlama]

It's 16 trillion isn't it?

Mind boggling.

 

[The Esk]

The Americans must keep buying Chinese goods so that the Chinese can fund the American debt partially caused by buying Chinese goods.

If America defaults, Chinese banks go bust - economic equivalent of the black death plague.

 

[Del]

Merica

LOL

 

[Bungle]

America will increase the debt ceiling and all will be rosy again, until they need to raise it again when they're skint.

We're pretty much all doomed.

 

[Moomin]

Invest in Gold people.

 

[The Esk]

The only positive on the US economic scene is that they are closing in on energy independence, and have in recent days become the worlds largest producer of oil, overtaking Saudi Arabia.

Within 10 years the US will be a net exporter of oil and gas.

 

[Bruce Wayne]

The only positive on the US economic scene is that they are closing in on energy independence, and have in recent days become the worlds largest producer of oil, overtaking Saudi Arabia.

Within 10 years the US will be a net exporter of oil and gas.

Britain could probably be likewise if folks weren't so skittish about fracking.

 

[Housequake]

I'd like to hear what MickM86 has to say on this, he was probably the catalyst for prohibition.