Goodbye cruel world

Discussion in 'Stock Market' started by DavidS, Jul 24, 2011.

  1. DavidS
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    DavidS Anti-Tea Party Member

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    If the US defaults and/or our credit is downgraded, our stock market is going to plummet. Think 2008 was scary? Look at 2011. Imagine watching the DOW plummet 1000 points in a day. 2,000. Think DOW 6500 was bad? Wait til DOW 3500.

    The radical right wing Republicans are going to kill us all and destroy an already fragile economy.
     
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  2. asterism
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    asterism Congress != Progress

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    US debt default will do that? How?

    Although I don't think the US will default on its debt just because it can't borrow more. In fact, every dollar paid in Social Security reduces the debt. The US is free to issue bonds up to the limit. This, like the rush to appropriate money for all those "shovel ready" jobs that didn't exist, is just another money grab.
     
  3. percysunshine
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    percysunshine Gold Member

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    Oh please...please...let this happen.

    I have been waiting to buy.

    Only morons buy high and sell low.
     
  4. DavidS
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    DavidS Anti-Tea Party Member

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    Congress consistently brings the Government to the edge of default before facing its responsibility. This brinkmanship threatens the holders of government bonds and those who rely on Social Security and veterans benefits. Interest rates would skyrocket, instability would occur in financial markets, and the Federal deficit would soar. The United States has a special responsibility to itself and the world to meet its obligations. It means we have a well-earned reputation for reliability and credibility – two things that set us apart from much of the world.
     
  5. California Girl
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    California Girl BANNED

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    They do that so they can pretend to the American people that they're 'fighting' to 'save' America. Both sides do it. Sheep fall for it.
     
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  6. Truthmatters
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    Truthmatters BANNED

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    Both sides do it?


    Historical evidence please?

    This action by the republicans has already proven to the world that the republicans will play games with our full faith and credit.

    It has harmed the country allready.

    Its what the republicans want, they want our economy to lose steam and they succeded already.

    Its party over country at every turn for the right,
     
  7. Si modo
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    Si modo Diamond Member

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    [​IMG]
     
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  8. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    There are debts this country has run up..like financing 2 wars..that we will default on. If there isn't enough money in the treasury to finance those debts..penalties will accrue. We also have foreign debts subject to the same risk.

    What this will do is demostrate to other nations that this country is so dysfunctional it cannot even take care of it's finances. They will look to other currencies to purchase and peg their own to. And they will look to other countries to make trade agreements with.

    This works fine if your goal is to be a pariah and isolationist. And it would turn this country, effectively, into a third world country with a big military.

    How's that working out for the Democratic Republic of North Korea?
     
  9. Si modo
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    Si modo Diamond Member

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    Do you honestly think that other countries don't already know that we don't have enough to pay our debts?
     
  10. DavidS
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    DavidS Anti-Tea Party Member

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    Do you disagree with what I posted above?
     

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