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Post by glennkoks on May 10, 2023 22:20:56 GMT
I could have included this in the economy tread but I figured it was worthy of its own.
I will preface this by saying there is a very low threat of the U.S. actually defaulting on our debt. Both parties are beholden to special interests and 99.9% of this is political posturing before they reach a last minute deal. We have seen this movie before.
With that being said I would like to get the braintrusts view on the issue. Feel free to comment.
Personally I think default is a bad idea but we have to somehow right the ship and restore some sort of fiscal responsibility to Washington. Feel free to comment...
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Post by walnut on May 10, 2023 22:34:24 GMT
I feel like that would be bad for my stock short-term.
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Post by nonentropic on May 11, 2023 7:10:32 GMT
there can be no default because the last resort is in fact the same said entity.
The issue is the erosion of faith in the Wests hypothesis and that is a big issue. In my lifetime we went from a default of democracy to well maybe not good.
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Post by flearider on May 11, 2023 15:46:15 GMT
there will be a default .. and then everything will go digital .. thats how they will do it .. debt will disappear and so will everything you have ...
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Post by phydeaux2363 on May 11, 2023 16:03:22 GMT
there will be a default .. and then everything will go digital .. thats how they will do it .. debt will disappear and so will everything you have ... That's a pretty dark outlook, Mr. Flea. If you are correct, what do predict the response will be from the average Joe? |
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Post by walnut on May 11, 2023 16:22:12 GMT
No default, it's going to be more or less status quo for the rest of our lives. We'll never see any big changes in that arena. The cabal knows how to play the shell game well.
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Post by flearider on May 11, 2023 17:02:03 GMT
there will be a default .. and then everything will go digital .. thats how they will do it .. debt will disappear and so will everything you have ... That's a pretty dark outlook, Mr. Flea. If you are correct, what do predict the response will be from the average Joe? in the states civil war ... most other places .. some kind of acceptance .. with huge black markets .. russia is gone in everything but name .. or will be time scale 10 yrs usa .. civil war will finish it off ... china .. hard one .. but people revolting like in the past .. then = one world government .. slaves to the digital .. until .. the next glaciation (95% reduction in planet population ) |
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Post by ratty on May 11, 2023 23:51:43 GMT
That's a pretty dark outlook, Mr. Flea. If you are correct, what do predict the response will be from the average Joe? in the states civil war ... most other places .. some kind of acceptance .. with huge black markets .. russia is gone in everything but name .. or will be time scale 10 yrs usa .. civil war will finish it off ... china .. hard one .. but people revolting like in the past .. then = one world government .. slaves to the digital .. until .. the next glaciation (95% reduction in planet population ) Thanks for that Flea: I was feeling a little down and needed a pick-me-up.   |
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Post by glennkoks on May 12, 2023 15:32:44 GMT
My next question for the braintrust is: What would happen if the US defaults on its debt? Google searches range from apocalyptic economic armageddon to not much at all. Obviously the democrats want you to believe the world would end. I am not sure that is the case but I don't want to find out. Being as the cost of servicing our ever growing debt is eating a bigger and bigger piece of the pie every day it increases. It can't be a good idea to increase the cost of servicing that debt.
In personal finance it would be like paying your credit cards late. You are rewarded with higher and higher rates making matters worse...
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Post by code on May 12, 2023 18:42:37 GMT
I feel like that would be bad for my stock short-term. Could present some excellent buying oportunities |
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Post by flearider on May 12, 2023 18:46:46 GMT
My next question for the braintrust is: What would happen if the US defaults on its debt? Google searches range from apocalyptic economic armageddon to not much at all. Obviously the democrats want you to believe the world would end. I am not sure that is the case but I don't want to find out. Being as the cost of servicing our ever growing debt is eating a bigger and bigger piece of the pie every day it increases. It can't be a good idea to increase the cost of servicing that debt. In personal finance it would be like paying your credit cards late. You are rewarded with higher and higher rates making matters worse... lets just say you can't to run your country the way you do it will never happen .. to do it would make you a 3rd world country .. or take 1k yrs .. your simply in to much debt .. they know this .. hence plan 2 civil war .. the winner loses the debt and starts fresh .. the average American has $92,727 of debt + everyone owes £100k to the national debt .. thats nearly everyone in the states (336,533,810 people ) no way in hell thats getting payed back .. |
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Post by ratty on May 12, 2023 23:21:04 GMT
My next question for the braintrust is: What would happen if the US defaults on its debt? Google searches range from apocalyptic economic armageddon to not much at all. Obviously the democrats want you to believe the world would end. I am not sure that is the case but I don't want to find out. Being as the cost of servicing our ever growing debt is eating a bigger and bigger piece of the pie every day it increases. It can't be a good idea to increase the cost of servicing that debt. In personal finance it would be like paying your credit cards late. You are rewarded with higher and higher rates making matters worse... lets just say you can't to run your country the way you do it will never happen .. to do it would make you a 3rd world country .. or take 1k yrs .. your simply in to much debt .. they know this .. hence plan 2 civil war .. the winner loses the debt and starts fresh .. the average American has $92,727 of debt + everyone owes £100k to the national debt .. thats nearly everyone in the states (336,533,810 people ) no way in hell thats getting payed back .. See also solarcycle25com.proboards.com/post/18281 |
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Post by walnut on May 13, 2023 1:03:29 GMT
I feel like that would be bad for my stock short-term. Could present some excellent buying oportunities Might be an existential doom situation, hard to predict the actual consequences. |
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Post by douglavers on May 13, 2023 6:46:44 GMT
I don't think even the US Congress is mad enough to allow a default, but I might be wrong.
My alternative view is that they are going to allow inflation to shrink the debt. Trouble is, once you let the inflation genie out of the bottle, it/he/she/they is/are hard to control.
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Post by duwayne on May 13, 2023 14:47:32 GMT
Conservatives need to find a way to get Biden on the hook for cost control.
I'd like to get a chance to ask Biden this question. What is your plan for avoiding bankruptcy?
Think of his possible answer(s). If he doesn't mention control of costs his answer will be open to question because we are on a path to bankruptcy.
Raising the debt limit won't stop our acceleration toward bankruptcy. In fact, it takes out a barrier.
Go back to the top and reread.
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