What will happen once United States of America will go bust?

Discussion in 'Politics' started by mayya555, Apr 19, 2010.

  1. mayya555
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    mayya555 Member

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    With this level of debt and with this trouble our economy is in the question "will we go bust" turns into "when will we go bust".

    What will happen then? I'm too scared to even try to predict.
     
  2. uscitizen
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    uscitizen Senior Member

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    The banks and corporations will own us.
    The long term Republican goal?
     
  3. Screaming Eagle
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    Screaming Eagle Active Member

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    40 or 50 countries will face severe upheaval and disruption followed probably by their government being overturned or ceasing to function. Political and real famines will probably kill hundreds of millions, if not billions.

    That's what I think will happen.
     
  4. Care4all
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    Care4all Warrior Princess Supporting Member

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    We get downgraded in our credit rating, our existing debt and future debt will go up in price, with higher interest rates....

    Does a government file bankruptcy, can they do such legally? If so, then what we owe others, will be diminished.
     
  5. Flopper
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    Flopper Gold Member

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    It's not going to happen, at least not the way most people would envision it. Here is something you might not be aware of. 60% of the national debt is owed to the public, both here an abroad. The government owes 40% of debt to itself, via loans between agencies. So it's not like the bank is going foreclose. Remember the treasury can always create more money which of course causes another set of problems.

    As the US debt rises as percent of GNP in relation to the debt of other nations, those who loan money to the government, mostly buyers of treasury bills will demand a higher rate of interest. This will force up interest rates which tends to depress business. Also foreign investors become concerned about the risk of investing in the US. This will cause the dollar to devalue making foreign goods more expensive. These two event will result in an increase in inflation plus a depressed business climate.

    In short, the government never goes belly up, but the public suffers a decline in purchasing power of dollar and waves of recession. All which leads to a decline in our standard living.
     
  6. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    It will all be blamed on Bush.
     
  7. uscitizen
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    uscitizen Senior Member

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    Sadly that is the most brilliant post I have seen you make.
     
  8. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    Luckily if the United States goes bust, Federal power would revert back to the hands of the States and the people.

    Now, if the States and the Federal government both collapse, we have some major problems.
     
  9. Vanquish
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    Vanquish Vanquisher of shills

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    Amazing job reverting back to emotional quackery and evading the rather lucid post made by Flopper. I guess when you start a thread and someone actually doesn't derail it...you have to take matters into your own hands?
    :clap2:
     
  10. Maple
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    Maple Senior Member

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    A 3rd world country like Haiti where we live in shacks.
     

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