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%
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Thread: Should the USA default?

  1. #31
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    Re: Should the USA default?

    Quote Originally Posted by RabidAlpaca View Post
    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.
    For a nation like the U.S., I should have clarified. I'm certainly not rooting for it. See above.
    Freedom of speech is not freedom from criticism.

  2. #32
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    Re: Should the USA default?

    Quote Originally Posted by Graffias View Post
    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.
    Let's take a look at Brazil then, shall we?

    Should the USA default?-brazil-jpg

    We see here a chart of the exchange rate over the past 10 years. Over the past 3 years their currency has jumped off a cliff, and they're having a LOT of problems for it. Most of the growth you're talking about happened prior to that.

    Brazil's troubled economy: Stumbling up the hill | The Economist
    AFTER a decade of encouraging growth, Brazil's economy has stalled. Without substantial changes to public spending and business relations, the country may lose its momentum
    Brazil's economy: A shocking figure | The Economist
    AFTER seven straight quarters of low or no growth, Brazil can no longer afford to be complacent about the need for big structural reforms, say our correspondents
    I find it quite strange that you, a socialist, of all people, are really advocating for inflation. Take countries like Mexico and China who have had major inflation. The middle class doesn't exist there. There's rich and poor, with very few in between. Inflation helps the rich and destroys the middle class. Rich people know how to hedge against inflation. Hard assets appreciate. So instead of holding the inflating currency, they either move it to another currency or buy hard assets like real estate, which because of inflation massively go up in value. Inflation is the most sinister opponent to true economic equality.

    Secondly I find it strange that you point to a country like Brazil who's source of growth over the past 10 years can be massively attributed to exports. You're against globalization remember? You're highly opposed to the golden goose they're using.

    Lastly, would most Americans consider the Brazilian standard of living very pleasant? Sure, there are some rich people there, but the middle class is weak and most people are very poor. So I still challenge you to find me a really nice place to live that has a really weak currency.

    And to cap it off, I'll give you a link to read up on about Brazil's hyperinflation battle through the 80's and 90's:
    http://www.bbc.co.uk/news/business-11477974
    Last edited by RabidAlpaca; 10-08-13 at 06:25 AM.
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  3. #33
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    Re: Should the USA default?

    Quote Originally Posted by Canell View Post
    A U.S. Default Seen as Catastrophe Dwarfing Lehman

    I say print 20 trillion dollars, pay the debt and go on.
    What do you think?
    I say you don't know **** about money. Are you even American, or are you like PeteEU trying to adjust US policy like you are?
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

  4. #34
    Iconoclast
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    Re: Should the USA default?

    Quote Originally Posted by Kobie View Post
    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.
    You say it is backed by TRUST and an excellent example is "full faith and trust," and sounds like words from a Pope. I'd substitute the word CONFIDENCE for TRUST and refer to the scenario as a "CONFIDENCE GAME." That seems to be a more surgically precise an answer to me.

  5. #35
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    Re: Should the USA default?

    Quote Originally Posted by American View Post
    Are you even American...?
    No.
    Now, if the US government can afford to be 17 trillion in debt, it could probably afford to pay it off instead of increasing it to infinity. Right?

  6. #36
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    Re: Should the USA default?

    Quote Originally Posted by Kobie View Post
    Explain to me why we have to pay off that debt now.
    Well, perhaps not right away. May be bit by bit. But I don't see that happening. I see constant raising of the debt ceiling.
    Now please explain to me how is it possible that the US government is indebted to itself (if we presume the FED is part and controlled by the government)?

  7. #37
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    Re: Should the USA default?

    Quote Originally Posted by Canell View Post
    No.
    Now, if the US government can afford to be 17 trillion in debt, it could probably afford to pay it off instead of increasing it to infinity. Right?
    No, that's NOT how it's done correctly.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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