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What is most like going to happen if the debt ceiling ain't being raised.
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Thread: US 10 days from bankruptcy.
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2012-12-23, 12:16 AM #1Deleted
US 10 days from bankruptcy.
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2012-12-23, 12:22 AM #2The Insane
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China gets a hold of a real big repo man...
Originally Posted by zuluslayer
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2012-12-23, 12:27 AM #3Deleted Originally Posted by Cattaclysmic
OT: Nothing will happen. Business as usual.Last edited by mmoc338fdc3aa9; 2012-12-23 at 12:33 AM.
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2012-12-23, 12:28 AM #4Immortal
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Considering that the global economy is essentially one big ponzi scheme, and that the only thing actually backing the dollar is market "confidence." It makes these political games of brinkmanship all the more irrational and even downright suicidal.
Sir Robin, the Not-Quite-So-Brave-As-Sir-Lancelot.
Who had nearly fought the Dragon of Angnor.
Who had almost stood up to the vicious Chicken of Bristol.
And who had personally wet himself, at the Battle of Badon Hill.
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2012-12-23, 12:28 AM #5DeletedLithuania launches their secret military plan for world domination. Originally Posted by zuluslayer
We're fucked.
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2012-12-23, 12:28 AM #6Void Lord
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We'll move on as usual.
#TeamLegion #UnderEarthofAzerothexpansion plz #Arathor4Alliance #TeamNoBlueHorde
Warrior-Magi
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2012-12-23, 12:29 AM #7The Insane
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I dont follow... Originally Posted by gruyaka
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2012-12-23, 12:32 AM #8DeletedAdele is pretty much a massive fat cow hence she qualifies as the aforementioned "big repo man"? Originally Posted by Cattaclysmic
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2012-12-23, 12:35 AM #9The Insane
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I think you need to work on those punchlines... Originally Posted by gruyaka
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2012-12-23, 12:38 AM #10DeletedMy punchlines are awesome. I always use a ruler! Originally Posted by Cattaclysmic
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2012-12-23, 12:39 AM #11Banned
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Fiscal Cliff isn't bankruptcy.
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2012-12-23, 12:42 AM #12Titan
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1. the US is NOT 10 days from bankruptcy. Originally Posted by zuluslayer
2. Education and access to information is important... the Debt Ceiling wont be reached until sometime in Feb 2013.
3. Even then they'll just continue printing money and monetizing the debt.
What happens in 10 days is that the intended taxes from Obamacare go into effect, as well as the sequestration approved by both political parties, as well as the expiration of several tax cut plans, of which the President supports and actively campaigned for.
--- Want any of my Constitutional rights?, ΜΟΛΩΝ ΛΑΒΕ
I come from a time and a place where I judge people by the content of their character; I don't give a damn if you are tall or short; gay or straight; Jew or Gentile; White, Black, Brown or Green; Conservative or Liberal. -- Note to mods: if you are going to infract me have the decency to post the reason, and expect to hold everyone else to the same standard.
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2012-12-23, 12:42 AM #13The Lightbringer
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Things will still carry on, taxes for working people will go up, there will be some cuts, will likely hurt those who work standard government jobs but the higher ups and those on the government dole will keep getting their money.
If gov assistance checks shown up 2 days late then there would be blood in the streets.
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2012-12-23, 12:47 AM #14Pandaren Monk
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The "fiscal cliff" is an idea and term that was coined 48 days ago. It means nothing. As measured in percentages of GDP and accounting for inflation, the U.S. is currently twice as financially healthy as we were during World War II. No one wants to put these sorts of things into context. We survived the 1930s and 40s just fine and we recovered in the 1950s. If the "fiscal cliff" were real, we were 50 paces from falling off the cliff in 1945 and we're 100 paces from doing so today.
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2012-12-23, 01:19 AM #15Banned
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As long as were still using the dollar we can just print more, duh?
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2012-12-23, 01:20 AM #16Field Marshal
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see i thought there was a "not over till the fat lady sings" punchline (which would have been better)
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2012-12-23, 01:23 AM #17Merely a Setback
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the point wouldnt be that we didn't survive the 1930's and 40's, its that it's not a time that would be pleasant to revisit in any form.so why would society want to not care about doing anything that might start it down that path? Originally Posted by Slummish
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2012-12-23, 01:25 AM #18The Lightbringer
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The economy will dip, but it will get rid of all of the Bush tax cuts.
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2012-12-23, 01:26 AM #19Void Lord
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1) Sovereign states the size of the US can't go bankrupt.
2) China is not going to gut its biggest market by calling in its debt.
3) Most US debt is held domestically anyway. Originally Posted by Marjane Satrapi
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2012-12-23, 01:44 AM #20Bloodsail Admiral
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Russia lost 20 Million citizens in WW2. Originally Posted by Slummish
Germany was still suffering from WW1 AND WW2.
London was bombed to pieces.
Almost all of Europe was ravaged by war.
You can't just isolate ''Dept to GDP ratio'' and tell everyone that everything is fine. In the 30s, 40s and 50s America was the dominant power in terms of technology, production and economy. Today, there are few arguments in favor for producing goods in the US and export it out of the US. While there are lots of reason to import goods into the US. One of them being, the US government will simply borrow more money.
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