Anyone else wishing for govt default?

BeerNuts

BeerNuts

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Sep 4, 2008
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The more news I see about this not working out the happier I am. I would love to see the after effects of this "financial apocalypse". If it actually happens and the masses blame government for the failure me just might see some change in the retarded us vs them system we have. A failure of this level should shine light on a lot of things.

I highly doubt we will end up in some sort of Mad Max like world and if we did so what, there will always be something to sling or other countries to move to.

T- 5 days and counting...
 


Aren't we mostly concerned with what boils down to an arbitrary, self-imposed benchmark? The way I understand it, it's not like the apocalypse will happen; we just start budgeting hard. It would definitely be a wake-up call.
 
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BigWill said:
Yup, hoping for it also. In the long run it would be VERY good for our economy and our country.
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Short term interest rates would rise and piss off some people, but it'd stave off the god damn inflation that's been going on lately.
 
What about our credit rating tho? I agree that it will be good to finally force some change in the system, but if we lost our triple A credit rating that would blow
 
leadsupplier said:
What about our credit rating tho? I agree that it will be good to finally force some change in the system, but if we lost our triple A credit rating that would blow
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Why? If we cut spending we won't need to borrow social security payments.

Why would you need a credit rating if you don't borrow money? We should produce positive income not negative income.
 
If it happens there's a good chance you'll be counting the casualties around the world in megadeaths.
 
They will just print more money to pay the debt and inflation will rise, its already at 9%. The higher the inflation the less the dollar is worth, the easier it is to pay the debt.
 
The problem with this is that the media will blame the republicans. The idiots that think channel 7 is really the news will buy that; and we'll be stuck with that annoying fucking douchebag as a president for 4 more years.
 
A recent piece by Megan McArdle offers a few insights about where the road ahead leads.

She's a smart lady. Heads up: her article is not about economic science as much as political theater. And that's as much fun as anything else in the debt debate. It is worth a read - if anything, for a few of her one-liners...

There is one thing I'm sure of: Obama is indeed bluffing with the veto threat, and badly. They could send him a repeal of Obamacare attached to a debt ceiling increase, and he'd sign it.
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