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 US about to Default on debts. Look at this

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xALIENAx
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PostSubject: US about to Default on debts. Look at this   Thu Jul 28, 2011 5:47 am

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Fido
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PostSubject: Re: US about to Default on debts. Look at this   Thu Jul 28, 2011 11:48 am

You don't know shit about it so keep it shut.
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RoninHo'in
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PostSubject: Re: US about to Default on debts. Look at this   Thu Jul 28, 2011 12:40 pm

as much as I hate these fawkers.... this has to happen.....

HAS to.

The fact that there playing political fucking games with our economy disgusts me even more.

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PostSubject: Re: US about to Default on debts. Look at this   Thu Jul 28, 2011 12:57 pm

Fido wrote:
You don't know shit about it so keep it shut.
What happens when you hit the borrowing limit, though?
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PostSubject: Re: US about to Default on debts. Look at this   Thu Jul 28, 2011 1:02 pm

Nothing. This whole thing is overhyped. Nothing's gonna happen. China can't declare war on us or demand all of our debt.

It boils down to this: Most American debt is held by Americans, who bought it from the government through bonds which are like stocks but instead of in a corporation, in a government. The majority of non-domestic held debt is held by China as everyone knows. China's emerging economy is based on manufacturing... for developed economies. If the US goes down, China doesn't sell what it makes because the up-and-comers (China, India, Brazil being the most important, Russia too to a lesser extent) haven't got enough of a middle class for them to be a serious market. So without the US around, China tanks. Just as bad as we would. So it's not in China's interest to collect on our debt.

In my opinion (which I've been convinced of by a few economics teachers who shared it), the worst case scenario is that the US will go bankrupt just like Mr. Trump has several times. That wouldn't be catastrophic, just a bit embarrassing.
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PostSubject: Re: US about to Default on debts. Look at this   Thu Jul 28, 2011 1:05 pm

IMO this is just the latest showdown to keep everyone's anxiety up, so they get a nice big turnout of voters in November. They're not going to let the country completely destroy itself. Don't worry. They might seem incompetent... but they're not.
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PostSubject: Re: US about to Default on debts. Look at this   Thu Jul 28, 2011 1:06 pm

Mm...

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PostSubject: Re: US about to Default on debts. Look at this   Thu Jul 28, 2011 1:08 pm

Yah.... China is also making a mint on our "Green Tech" by mining all the ore needed for the coils around toxic lake Razz

Republicans WANT things to go as bad as possible without going over the edge to chaos... they want to make obama look bad so their POS candidate that they put forward will stand a better chance in the election....

It's a fuckin mess.... If our "leaders" actually had our best interests in mind instead of only ever being concerned with political ratings (which sometimes comes to our benefit, sometimes not) we wouldn't be in this fucking shithole

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PostSubject: Re: US about to Default on debts. Look at this   Thu Jul 28, 2011 1:13 pm

I kinda hope they fail to raise it (but they won't, I promise). That would be extremely good to me personally.
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PostSubject: Re: US about to Default on debts. Look at this   Thu Jul 28, 2011 1:21 pm

Fido wrote:
I kinda hope they fail to raise it (but they won't, I promise). That would be extremely good to me personally.

ô¿ô

How so?

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PostSubject: Re: US about to Default on debts. Look at this   Thu Jul 28, 2011 1:52 pm

Fido wrote:
Nothing. This whole thing is overhyped. Nothing's gonna happen. China can't declare war on us or demand all of our debt.

It boils down to this: Most American debt is held by Americans, who bought it from the government through bonds which are like stocks but instead of in a corporation, in a government. The majority of non-domestic held debt is held by China as everyone knows. China's emerging economy is based on manufacturing... for developed economies. If the US goes down, China doesn't sell what it makes because the up-and-comers (China, India, Brazil being the most important, Russia too to a lesser extent) haven't got enough of a middle class for them to be a serious market. So without the US around, China tanks. Just as bad as we would. So it's not in China's interest to collect on our debt.

In my opinion (which I've been convinced of by a few economics teachers who shared it), the worst case scenario is that the US will go bankrupt just like Mr. Trump has several times. That wouldn't be catastrophic, just a bit embarrassing.

Funny you should mention that, China is actually planning to become more self-dependant and shift away from their dependancy on exportation to the global market. Will it work? Probably not, their export market is pretty much the main reason why they've grown so strong so quickly, but if they do manage to pull it off, there will be few things holding them back in whatever they do.
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PostSubject: Re: US about to Default on debts. Look at this   Thu Jul 28, 2011 1:52 pm

Fido wrote:
this is just the latest showdown to keep everyone's anxiety up



well it worked, ive been pretty anxious about the shit.
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PostSubject: Re: US about to Default on debts. Look at this   Thu Jul 28, 2011 2:48 pm

Eradicated wrote:


Funny you should mention that, China is actually planning to become more self-dependant and shift away from their dependancy on exportation to the global market. Will it work? Probably not, their export market is pretty much the main reason why they've grown so strong so quickly, but if they do manage to pull it off, there will be few things holding them back in whatever they do.

Well, if you were them, and you had a country like the US that was extremely powerful both militarily and economically and culturally, and you relied on them to build your own nation up... but they were at risk of defaulting on their debt. Wouldn't you want to be more independent? It'll take 'em a long time to get there though, the key to that kind of independence is a good strong middle class to buy the shit you make.
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PostSubject: Re: US about to Default on debts. Look at this   Thu Jul 28, 2011 3:29 pm

Eradicated wrote:


Funny you should mention that, China is actually planning to become more self-dependant and shift away from their dependancy on exportation to the global market. Will it work? Probably not, their export market is pretty much the main reason why they've grown so strong so quickly, but if they do manage to pull it off, there will be few things holding them back in whatever they do.

The problem with that is what Simon pointed out, a pitiful middle class, China is where there are now, due to low paying wages to produce low cost goods (also sitting on the worlds largest limited natural resources help) they need to increase their size of middle class and that is done through higher wages.... which increases cost production so its a bit of a catch 22, its doable but it takes time and eventually they would turn into the US, by looking elsewhere for imported goods to keep buying costs low

What does anyone want from China on the global market anyways, their low cost exports and resources, otherwise what else do the have to offer besides an oppressive government and a top notch hacking community
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PostSubject: Re: US about to Default on debts. Look at this   Thu Jul 28, 2011 4:05 pm

DTECH wrote:
a top notch hacking community
lol
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DTECH
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PostSubject: Re: US about to Default on debts. Look at this   Thu Jul 28, 2011 4:29 pm

Skreshavik wrote:

lol

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PostSubject: Re: US about to Default on debts. Look at this   Thu Jul 28, 2011 4:35 pm

Fido wrote:
You don't know shit about it so keep it shut.
Bitch got told.

And yeah this is eerily similar to that "government shutdown" thing a few weeks ago. Set a deadline, watch people get anxious, solve the problem at the very last minute.

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