Not if you listen to the moronic Tea Baggers. According to them, nothing will happen..at all...its all a bluff by Obama.
These fucktards think they know better than every other expert I have heard, yet, they continue to play chicken with the global economy. Assholes. On Mon, Jul 25, 2011 at 8:13 PM, Grussgott <grussg...@gmail.com> wrote: > > Yup. Very expensive and probably a global recession with a US depression. > Probably would meltdown Europe too. Very very bad. Most of us would lose > our jobs to start and then it'd get worse from there. > > Basically it'd be a self-inflicted shot to the head in that the country might > survive but it'd be pretty disfigured. > > Sent from my iPad > > On Jul 25, 2011, at 12:43 PM, Jerry Milo Johnson <jmi...@gmail.com> wrote: > >> >> My understanding is that basically failing to raise the debt ceiling >> is the government saying "we are not planning on paying back all the >> money we have budgeted.". >> >> So, either the government stops paying those bills they budgeted, or >> they are going to have to borrow that money as UNSECURED debt. >> >> (picture the Minn Government shutdown, or Cali sending all those >> people home with no notice, or Cali not sending tax refunds to people >> they owed money to, but instead sent IOUs but no money). >> >> Those unsecured loans are going to be expensive, like >> break-your-kneecap-if-you-are-late expensive. And regular lenders on >> the money that IS authorized (the money under the current debt >> ceiling) are going to also start charging a LOT more to lend that >> money, since we have said basically we cannot be trusted any more. >> >> And since those loans are going to be way more expensive, our BUYING >> power per dollar is going to go way down. >> >> And our currency, compared to others is going to drop dramatically, so >> all imports will be more expensive, and all exports will be worth >> less. >> >> In the end, it will probably mean a HUGE reduction in government jobs >> (like tens of thousands of layoffs or furlows), which will tank the >> economy further, a HUGE reduction in government services, and a HUGE >> increase in the debt, and a decapitation of our economy, probably into >> a depression. >> >> It is going to be very expensive for you and me, wallet-wise. >> >> Or so I understand it, being completely economically and politically >> and religiously challenged. (I just dont understand ideologues) >> >> On Mon, Jul 25, 2011 at 1:26 PM, Scott Stewart >> <webmas...@sstwebworks.com> wrote: >>> >>> So with all the talk about the US debt ceiling... has me wondering.. >>> what would happen if we did default? >>> >>> Is it the fall of Western Civilization and we all go back to living in >>> animal skin tents, hunting and gathering to get by >>> ..or >>> Is it a reset..meaning, kind of like going bankrupt, our debts gone >>> and we start over albeit with a signifcantly diminished credit score? >>> >>> note: I am not an economist, so please.. plain english :) >>> >>> -- >>> -- >>> Scott Stewart >>> Adobe Certified Instructor, ColdFusion 8 & 9 >>> Adobe Certified Expert, ColdFusion 8 & 9 >>> >>> Blog: http://www.sstwebworks.com >>> Email: webmas...@sstwebworks.com >>> >>> >> >> > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:340952 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
