View Poll Results: Should the USA default?

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  • Yes

    5 13.51%
  • No

    28 75.68%
  • It's not possible anyways

    3 8.11%
  • I don't know

    1 2.70%
  • Other

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Thread: Should the USA default?

  1. #21
    The Dude
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    Re: Should the USA default?

    Quote Originally Posted by RabidAlpaca View Post
    Personally I'd be for a constitutional amendment saying that if congress doesn't stay under budget for a fiscal year they all get recalled.
    While I do admire the sentiment behind this idea, it would be an unworkable sh*tshow that would completely take any stimulus in the face of economic crisis off the table, and that's just an awful idea.
    Freedom of speech is not freedom from criticism.

  2. #22
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    Re: Should the USA default?

    Quote Originally Posted by DaveFagan View Post
    You back your fiat money with gold, silver, assets or military might.
    No, you back your fiat money (or your hard money) with TRUST. Trust that the nation in question will continue to service its debt, trust that the commodities markets won't take a colossal deuce on what proponents of hard money think is actual currency.

    Gold and silver are just shinies. There are FAR more valuable commodities in the world than those shiny metals.
    Freedom of speech is not freedom from criticism.

  3. #23
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    Re: Should the USA default?

    Oh, this Ted Yoho guy is a peach by the way. Another pig-ignorant jackass and a product of gerrymandering.
    Freedom of speech is not freedom from criticism.

  4. #24
    Rogue Graffias's Avatar
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    Re: Should the USA default?

    Quote Originally Posted by RabidAlpaca View Post
    It's a global market, haas. You're trying to inflate people into poverty. Name one country that has a really weak currency but is really prosperous. Go ahead I'll wait.

    Mexico perhaps?
    I'm just explaining that having a weak currency isn't always a bad thing. A default may affect the economy in other ways, but a devalued dollar is not a big deal.
    AN AUTHORITARIAN SOCIALIST OPPOSED TO GLOBALISM, ZIONISM, AND FEMINISM, AND IN FAVOR OF SOVEREIGN NATIONS, A PALESTINIAN STATE, AND MEN'S RIGHTS!

  5. #25
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    Re: Should the USA default?

    Quote Originally Posted by Graffias View Post
    I'm just explaining that having a weak currency isn't always a bad thing. A default may affect the economy in other ways, but a devalued dollar is not a big deal.
    Especially considering that the dollar's value is only relevant in comparison to other currencies. And while those rates fluctuate (remember when the American dollar used to be worth almost double the Canadian dollar?), it's still the most trusted currency in the world and there's nothing on the horizon to indicate that will change. Even default. However, default would start an extreme devaluation process that could eventually change that, depending on how other global currencies respond.
    Freedom of speech is not freedom from criticism.

  6. #26
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    Re: Should the USA default?

    Quote Originally Posted by Graffias View Post
    I'm just explaining that having a weak currency isn't always a bad thing. A default may affect the economy in other ways, but a devalued dollar is not a big deal.
    It is ALWAYS a bad thing. You've just pointed one aspect that isn't all bad. It's still a net negative. Name ONE country with a really weak currency that is prosperous and a pleasant place to live. Just one.

    If your sentiment were true, all of the countries who were victims of hyperinflation would be living the good life right now.
    Quote Originally Posted by LowDown View Post
    I've got to say that it is shadenfreudalicious to see the rich and famous fucquewads on the coast suffering from the fires.

  7. #27
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    Re: Should the USA default?

    I'll say that having a weakened currency isn't always a bad thing, but 99% of the time, it is. The only way having a weakened currency isn't always a bad thing is if all other significant currencies are weakened to a similar or worse level. And the only thing that would make that happen would be a global economic catastrophe.
    Freedom of speech is not freedom from criticism.

  8. #28
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    Re: Should the USA default?

    Quote Originally Posted by Kobie View Post
    I'll say that having a weakened currency isn't always a bad thing, but 99% of the time, it is. The only way having a weakened currency isn't always a bad thing is if all other significant currencies are weakened to a similar or worse level. And the only thing that would make that happen would be a global economic catastrophe.
    So you essentially just said "It's not always a bad thing. It could be good during a global economic catastrophe!"

    That means it's bad 100% of the time, because even your exception is a REALLY ****ty situation.
    Quote Originally Posted by LowDown View Post
    I've got to say that it is shadenfreudalicious to see the rich and famous fucquewads on the coast suffering from the fires.

  9. #29
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    Re: Should the USA default?

    Quote Originally Posted by RabidAlpaca View Post
    It is ALWAYS a bad thing. You've just pointed one aspect that isn't all bad. It's still a net negative. Name ONE country with a really weak currency that is prosperous and a pleasant place to live. Just one.

    If your sentiment were true, all of the countries who were victims of hyperinflation would be living the good life right now.

    Brazil has a weak currency compared to the U.S and U.K, but they're one of the fastest growing emerging economies in the world.



    Although many would perceive a weakening currency to be a negative issue, from a positive perspective the declining value of the Brazilian Real means that Brazilian products are much better value for money, which has encouraged phenomenal growth across the Brazilian industry sector.

    Article Source: Weak Brazilian Currency Presents an Opportunity to Invest in Brazilian Real Estate Market
    AN AUTHORITARIAN SOCIALIST OPPOSED TO GLOBALISM, ZIONISM, AND FEMINISM, AND IN FAVOR OF SOVEREIGN NATIONS, A PALESTINIAN STATE, AND MEN'S RIGHTS!

  10. #30
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    Re: Should the USA default?

    Weaker currency can, under very precise circumstances, help an export-dependent nation. Which is why China has been intentionally devaluing the yuan for years.
    Freedom of speech is not freedom from criticism.

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