So what does a country do once its bankrupt?

[beowolfe]

It stands by and watches its proud and elitist congress cram a health bill down it's throat.

I thought that was what was going to drive the US to bankruptcy.

We were already there...we've been borrowing money since Jan 20 of 09.

Let's see. The last year we didn't borrow money to balance the federal budget was 1999-2000. But once the Bush tax cuts were enacted through reconcilliation, we've been borrowing money every since. But you'd like us to think that on January 19, 2009 we had a balanced budget, right?

 

[boedicca]

Scuze me.

9/11 - have you heard of it?

The Dotcom Crash - have you heard of it?

The Financial-Real Estate melt down - have you heard of it?

The Aughts were a disaster of a decade in which prior decades of government malfeasance and cronyism combined with the Carter Foreign Policy legacy finally reached their logical conclusions.

 

[Charles Stucker]

So what does a country do once its bankrupt?

It gives even more of a voice to corporations as "persons" in "democratic" elections. "Free market" practices will not heal this country, but hasten its demise. Free markets have never worked anywhere. The proletariat would not tolerate the repression needed for them to exist.

Thank you for this communist message. We now return to reality.

 

[NYcarbineer]

So what does a country do once its bankrupt?

Move in with its parents?

 

[Mr.Fitnah]

Moody’s Says U.S. Debt Could Test Triple-A Rating
By DAVID JOLLY and CATHERINE RAMPELL
Published: March 15, 2010

The gold-plated credit rating of the United States — an article of faith across America and, indeed, around the world — may be at risk in coming years as the nation copes with its growing debts.

That sobering assessment, issued Monday by Moody’s Investors Service, provided a reminder that even Aaa-rated United States Treasury bonds, supposedly the safest of safe investments, could be downgraded one day if Washington failed to manage the federal debt.

Moody’s said the United States and other major Western nations, particularly Britain, have moved “substantially” closer to losing their gilt-edged ratings. The ratings are “stable,” but “their ‘distance-to-downgrade’ has in all cases substantially diminished,” the credit ratings agency said.

A downgrade would affect more than American pride. The bigger risk would be to the country’s ability to keep borrowing money on extremely favorable terms, and therefore to keep spending more money than it takes in from tax revenue.

A credit rating lets lenders and investors know how likely it is that a borrower can pay back a loan. A sterling rating means there is little for lenders to worry about. A lower one typically results in bond investors demanding higher interest rates on debt.

Those higher rates, in turn, add to the country’s overall debt burden and can force the government to reduce spending, increase taxes or both. That difficulty has been well-illustrated recently in Greece and Portugal, with strikes and protests as citizens march in the streets to oppose tough austerity measures that directly reduce entitlements and state benefits.

“Growth alone will not resolve an increasingly complicated debt equation,” Moody’s said. “Preserving debt affordability” — the ratio of interest payments to government revenue — “at levels consistent with Aaa ratings will invariably require fiscal adjustments of a magnitude that, in some cases, will test social cohesion.” The United States, Britain, France and Germany have always been rated triple-A by Moody’s, with the United States first rated in 1949.

Moody?s Warns U.S. Debt Could Test Triple-A Rating - NYTimes.com
will test social cohesion

What does that look like?

 

[Mr.Fitnah]

The USSR had

The Belavezha Accords (Russian: Беловежские соглашения, Belarusian: Белавежскія пагадненьн&#1110 is the agreement which declared the Soviet Union effectively dissolved and established the Commonwealth of Independent States in its place.

It was signed at the state dacha near Viskuli in Belovezhskaya Pushcha on December 8, 1991, by the leaders of Belarus, Russia (Russian SFSR), and Ukraine. Glenn Beck referred to it at 5:12 PM ET on his Fox News Channel broadcast on March 18, 2010, as a gathering of leaders who realized what was coming, and which fundamentally transformed the Soviet Union into the Russian Federation and other former Soviet Republics.


What Does the USA have?

 

[oreo]

The Bribes to pass "HCR" are enough to bankrupt some countries the price tag on the thing will shake out to be many times a trillion dollars.

The CBO of scores it 1.2 trillion over 10 years with a cut in deficit of 130 billion these is pretty rosy IMO

U.S. National Debt Clock : Real Time

looks like the debt to GPD ratio will reach 100% sometime next year.

US Federal Debt As Percent Of GDP in United States 2010-2015 - Federal State Local

Well, we can all make a run for the borders. If this country goes bankrupt--it will be Mexico building fences to keep Americans out--

 

[Mr.Fitnah]

The Bribes to pass "HCR" are enough to bankrupt some countries the price tag on the thing will shake out to be many times a trillion dollars.

The CBO of scores it 1.2 trillion over 10 years with a cut in deficit of 130 billion these is pretty rosy IMO

U.S. National Debt Clock : Real Time

looks like the debt to GPD ratio will reach 100% sometime next year.

US Federal Debt As Percent Of GDP in United States 2010-2015 - Federal State Local

Well, we can all make a run for the borders. If this country goes bankrupt--it will be Mexico building fences to keep Americans out--

Ill be they can get one up in a week.

 

[Borat]

Once the country becomes bankrupt nothing much changes - Dictatorship simply becomes official.

Instead of labeling people domestic terrorists for reading the constitution and shipping them to guantanamo they are simply shot in the face in broad daylight for the crime of forming a group of more than 2 persons.

The very same people will be in power after collapse as are in power now. The middle man between them and you may relocate from the white house to pentagon however.

Illegal weapon possession will be redefined from carrying a concealed gun to having a plastic butter knife in a security safe at home. The penalty will be upgraded form prison time to being burned alive in your house along with your entire family.

your neighbors and people who you talked to online will meanwhile get 20 years of hard labor.

 

[86DuDE]

The obvious answer is to start a new war!

 

[Avatar4321]

Start praying and plant a garden full of fruits and vegetables.

At least if you have hope to live.

 

[Avatar4321]

Scuze me.

9/11 - have you heard of it?

The Dotcom Crash - have you heard of it?

The Financial-Real Estate melt down - have you heard of it?

The Aughts were a disaster of a decade in which prior decades of government malfeasance and cronyism combined with the Carter Foreign Policy legacy finally reached their logical conclusions.

I agree with all but one point: We haven't seen the Conclusion yet. And it ain't going to be pretty.

 

[Xenophon]

The Bribes to pass "HCR" are enough to bankrupt some countries the price tag on the thing will shake out to be many times a trillion dollars.

The CBO of scores it 1.2 trillion over 10 years with a cut in deficit of 130 billion these is pretty rosy IMO

U.S. National Debt Clock : Real Time

looks like the debt to GPD ratio will reach 100% sometime next year.

US Federal Debt As Percent Of GDP in United States 2010-2015 - Federal State Local

It either gets taken over from the outside or a new type of government takes over, after violently removing the current gov.

 

[Douger]

When (not if) we go financially bankrupt, its going to be because Republicans and Democrats failed to control spending from Reagan's era forward. Bush/DeLay/Frist's era of Borrow and Spend will have as much to do with it as Pelosi/Reid/Obama's spending did.

Should the US go financially bankrupt, you can bend over and kiss your sweet behind goodbye. The default on Federal Bonds would absolutely destory investment and industry. Military personnel wouldn't be paid. Entitlements would dry up as would VA benefits. Federal law enforcement would sputter out.....

Its a nightmare scenario. I'm hoping that it won't happen, but history shows that at some point every form of government will fail.

Oh. It's gonna happen....or they bring in WW3. Either way. Travel Doctor.........SOON

 

[editec]

The debt picture will likely mean the gradual erosion of the quality of life for most of us.

Not a dramatic as I think some of you expect things to be, but in the long run just as destructive.

Now this debt problem has been growing for quite some time.

This latest bankers depression is exacerbating a problem that was already leading us down this road, anyway.

Empires and the militaries to maintain them, are expensive, folks.

Creating, and then having to maintain an UNDERCLASS of no longer needed workers, ALSO expensive (thank you free traitors)

Our empire, a creature of the corporate state, is about to end...not abruptly, I think, but inevitably.

 

[Mr.Fitnah]

The Bribes to pass "HCR" are enough to bankrupt some countries the price tag on the thing will shake out to be many times a trillion dollars.

The CBO of scores it 1.2 trillion over 10 years with a cut in deficit of 130 billion these is pretty rosy IMO

U.S. National Debt Clock : Real Time

looks like the debt to GPD ratio will reach 100% sometime next year.

US Federal Debt As Percent Of GDP in United States 2010-2015 - Federal State Local

Are you a CPA or finance person?

Im a normal walking around person who knows there is only so much debt any entity can carry before it implodes, this is something history teaches .
Something you will never understand.
http://www.usmessageboard.com/2045439-post10.html

Coffee party? What historical event is that based on, a Starbucks grand opening?

I would think none. Progressives don't normally look back, they look forward. Unlike so-called conservatives, who constantly look back for answers, even though there are no answers in our past.

 

[VaYank5150]

The Bribes to pass "HCR" are enough to bankrupt some countries the price tag on the thing will shake out to be many times a trillion dollars.

The CBO of scores it 1.2 trillion over 10 years with a cut in deficit of 130 billion these is pretty rosy IMO

U.S. National Debt Clock : Real Time

looks like the debt to GPD ratio will reach 100% sometime next year.

US Federal Debt As Percent Of GDP in United States 2010-2015 - Federal State Local

Are you a CPA or finance person?

Im a normal walking around person who knows there is only so much debt any entity can carry before it implodes, this is something history teaches .
Something you will never understand.
http://www.usmessageboard.com/2045439-post10.html

Coffee party? What historical event is that based on, a Starbucks grand opening?

I would think none. Progressives don't normally look back, they look forward. Unlike so-called conservatives, who constantly look back for answers, even though there are no answers in our past.

I guess it's a damn good thing that our police actions in Iraq hasn't caused us any debt then, huh?

 

[NYcarbineer]

If the country goes bankrupt, it will be revived when a new charismatic leader of a new movement emerges,

who will inspire a new patriotism built around blaming all of the country's ills on minorities, foreigners, internationalists, and

the liberal media.

 

[RodISHI]

If the country goes bankrupt, it will be revived when a new charismatic leader of a new movement emerges,

who will inspire a new patriotism built around blaming all of the country's ills on minorities, foreigners, internationalists, and

the liberal media.

Are you looking forward to this?

 

[Mr.Fitnah]

If the country goes bankrupt, it will be revived when a new charismatic leader of a new movement emerges,

who will inspire a new patriotism built around blaming all of the country's ills on minorities, foreigners, internationalists, and

the liberal media.

Are you looking forward to this?

She is working out the kinks of being the cause and the victim and the oppressive regime, its complicated .