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Should the US default, look what kind of company we'd be in

 
Exusiai
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10/13/2013 09:46 PM
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Should the US default, look what kind of company we'd be in
Saw this article and couldn't help but recognize some of the correlation between defaults and historical markers.

This article picks up on it and discusses it in context of what caused the last major western default: 1933 Nazi Germany. There have been others since of course, but this was 20 years after the world's 3rd largest economy went to war, and lost.

There is something to be said about trying to gaze into the crystal ball by looking into our past. Sometimes though it only helps so much, and fails to display the gravity of the situation. Not since the fall of Rome has something this major been at risk, and even that only affected a seemingly small portion of the globe. Only the most isolated and hermitized members of our species are immune from this should it happen, since we are all connected via the economic interdependence deemed worthwhile by globalization.

The biggest question right now is are we solvent, or capable of eventually paying back our debts. In this article the statement is made that we are, which is true on paper. In reality though, when you introduce the human element of who we are as a society to the equation, it becomes blatantly clear that we are no more solvent than a child in a candy store begging their mother for another candy bar.

This week tells a lot about us as a race, and what comes next tells us about what our future will be. Buckle up everyone, this is going to be interesting.

[link to www.bloomberg.com]
Anonymous Coward
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10/13/2013 10:10 PM
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Re: Should the US default, look what kind of company we'd be in
If we default like 1933 Germany will we be back on top in a few years like 1939 Germany when they were poised to rule the world?
Anonymous Coward
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10/13/2013 10:35 PM
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Re: Should the US default, look what kind of company we'd be in
You won't be back on top, ever. It's game over, finished.
Anonymous Coward
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10/13/2013 10:44 PM
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Re: Should the US default, look what kind of company we'd be in
You won't be back on top, ever. It's game over, finished.
 Quoting: Anonymous Coward 2268641


Really? I wouldn't bet on that.
Anonymous Coward
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10/13/2013 10:45 PM
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Re: Should the US default, look what kind of company we'd be in
DEFAULT=FREEDOM
Anonymous Coward
User ID: 2268641
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10/13/2013 11:09 PM
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Re: Should the US default, look what kind of company we'd be in
You won't be back on top, ever. It's game over, finished.
 Quoting: Anonymous Coward 2268641


Really? I wouldn't bet on that.
 Quoting: Anonymous Coward 47013645


We are at the end of time. Mark my words, it is game over.
Anonymous Coward
User ID: 44534076
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10/13/2013 11:21 PM
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Re: Should the US default, look what kind of company we'd be in
You won't be back on top, ever. It's game over, finished.
 Quoting: Anonymous Coward 2268641


Really? I wouldn't bet on that.
 Quoting: Anonymous Coward 47013645


We are at the end of time. Mark my words, it is game over.
 Quoting: Anonymous Coward 2268641


Oh if another Hitler comes along I'm sure he can whip us into shape.
Exusiai  (OP)

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10/13/2013 11:27 PM
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Re: Should the US default, look what kind of company we'd be in
If we default like 1933 Germany will we be back on top in a few years like 1939 Germany when they were poised to rule the world?
 Quoting: Anonymous Coward 44534076


That's the big question. Will there be a return ever again?

Note though that Germany was not the economic engine of the world at the time WWI started, and it definitely wasn't when it defaulted. It was in the middle of an economic depression when Hitler came to power and started his rabble rousing. Painting one group as the ones to blame for all the problems they were suffering.

The closest historical comparison we have really is the fall of the Roman Empire in my opinion. Unfortunately that isn't even a good comparison because the Empire didn't span the globe, wasn't indebted to foreign powers, and had other pressures acting on it at the time of the split.

Could Rome happen again? In theory we could split into component nations (either 50 states or 4-5 regional entities as has been proposed would happen), but who then would shoulder the debt? This would be treated as debt not incurred by the new nations and thus ignored, causing a massive shockwave throughout the world, after which it could take decades before international trade recovers to anything worth calling such.

This of course belittles other things that would come up with the removal of the world's superpower. So basically anything could happen, but we know that 99.9999999% of the possibilities range from bad to mushroom clouds.





GLP