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Tell me what happens if we default...

 
Darrell41653
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User ID: 1172642
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07/28/2011 08:16 PM
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Tell me what happens if we default...
So just consider me a dumb ass. But, what really happens if the U.S. defaults?
Anonymous Coward
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07/28/2011 08:22 PM
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Re: Tell me what happens if we default...
So just consider me a dumb ass. But, what really happens if the U.S. defaults?
 Quoting: Darrell41653


"Default" only happens if the US does not pay it's bond holders. The federal gov't takes in $175 to $200 billion per month. payment on the bonds totals less than $20 billion / month. Default means that we stop paying on the bonds. The only way the US can default is if Obama orders the Treasury dept. not to pay on the bonds. Its all up to him. Default does not mean laying off federal workers or withholding other federal spending. default ONLY has to do with paying the bond holders. They word is being tossed around so much it has lost its meaning.
Anonymous Coward
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07/28/2011 08:25 PM
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Re: Tell me what happens if we default...
so what is the translation in doom speak?
Darrell41653 (OP)

User ID: 1172642
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07/28/2011 08:27 PM
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Re: Tell me what happens if we default...
So just more smoke and mirrors...
BRIEF
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07/28/2011 08:30 PM

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Re: Tell me what happens if we default...
So just consider me a dumb ass. But, what really happens if the U.S. defaults?
 Quoting: Darrell41653


Please vote for Re-pin, this is important:


Thread: OBAMA IS AN ECONOMIC TERRORIST
With freedom comes responsibility.

Heterosexual pride!

Briefcut4892
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07/28/2011 08:30 PM
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Re: Tell me what happens if we default...
Globalization will come to a screeching HALT.
Anonymous Coward
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07/28/2011 08:30 PM
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Re: Tell me what happens if we default...
from what i understand of what ron p. says in the pinned thread, the dollar will devalue so fast that consumer cost will skyrocket, ie, total chaos.
Anonymous Coward
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07/28/2011 08:32 PM
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Re: Tell me what happens if we default...
So just consider me a dumb ass. But, what really happens if the U.S. defaults?
 Quoting: Darrell41653


The white house will the BURNT house
Taz
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User ID: 1392825
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07/28/2011 08:32 PM

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Re: Tell me what happens if we default...
from what i understand of what ron p. says in the pinned thread, the dollar will devalue so fast that consumer cost will skyrocket, ie, total chaos.
 Quoting: Anonymous Coward 1251628


yes, the consumers, US, will somehow pay for it THAT you can take to the BANK!


ha. that was kinda funny actually.

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