A visualization of US debt
Click the link
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no default will happen..the tea party will be wedged as the bad guys..nice play by the democrats and gop..you gotta have a boogeyman..
that debt is outrageous!
401
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Regardless of what Congress or the President chooses to do, default of one sort or another will happen. Raising the debt ceiling only prolongs the agony. The Chinese were right in thinking the default has already begun. The Federal Reserve’s quantitative easing is just controlled inflation. Once the debt holders grow tired of having their investment in dollars purposely diluted, they will divest. When that happens, the Fed will print money in ernest and for all intents and purposes, we Americans will be broke. Our currency will be worthless and then the other dominoes will begin to fall. Pray that you nation is not heavily invested in the United States or you will be dragged down with us. It’s not going to be pretty, but I really believe it’s inevitable. There is no way we can pay what we owe. Economically we are done.
So true. It’s not only inevitable, but planned. Let’s all pray for the tough times ahead.
I think your right. Aussie here. We fear china more
I think it’s reasonable for anybody in south Asia or the south Pacific to fear China. Once Americans are unable to buy their products, the Chinese will go looking for another source of wealth so they can take care of their billion+ population. I guess they can foreclose on the US. That would be interesting. It would surely wake folks up to how the US government has been mismanaged for the last 50 years. And yes DH, I believe it was all planned too. While they distracted the US middle class with bread and circuses, the looting of America went unnoticed until now when it’s too late.
Q: if china is so evil, why are the west’s leaders doing everything they can to build them up?
A: same reason they built up the nazis and the USSR.
Create the enemy. Australia is tied to china like weight around our neck.
xxx…the west is evil too
bing bing bing… we have a winner!
but XXX, I might add that I would still rather live in the West than in China…it’s waaaaay more fun!