View Poll Results: Should the USA default?

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Thread: Should the USA default?

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    Should the USA default?

    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?

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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?
    What benefit could we possibly get from that? All it would do is destroy our credit and devalue our currency. It's not like you'd be able to hide that, we'd be essentially telling our creditors "Hey, I'm just going to make up some **** and give it to you. We're cool, right?". It'd be like throwing our record keeping books into the river and saying "DEBT FREE BABY!"

    The markets would react very wildly to such a decision and the value of the dollar would plummet, that's not even taking into account the actual devaluation by an increase in the money supply.

    It also would teach our politicians they can do whatever the hell they want. We need to balance the budget and start using sound economic policies like "Hey, maybe we shouldn't spend more than our income."
    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.

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    Re: Should the USA default?

    Quote Originally Posted by RabidAlpaca View Post
    It also would teach our politicians they can do whatever the hell they want. We need to balance the budget and start using sound economic policies like "Hey, maybe we shouldn't spend more than our income."
    What would you suggest paying off the current 17 trillion dollars debt? Taxes, sell off, privatization, what?

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    Re: Should the USA default?

    Quote Originally Posted by Canell View Post
    What would you suggest paying off the current 17 trillion dollars debt? Taxes, sell off, privatization, what?
    How much can we get for Puerto Rico, Guam and the US Virgin Islands? If Mexico had any money these days we could sell them SoCal.

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    Re: Should the USA default?

    Quote Originally Posted by Canell View Post
    What would you suggest paying off the current 17 trillion dollars debt? Taxes, sell off, privatization, what?
    Probably a lot of everything, except printing. Increasing the money supply without a proportional increase in goods and services will cause a devaluation of the dollar, which ****s every single one of us. As it stands, the fed is inflating away 2-4% of your savings a year, which with compound interest REALLY works against you. Meaning you have to average 2-4% a year on an investment just to break even. Considering the rates for CD's right now are like 1%, it's a sham.

    Top that off with the fact that the fed will loan to banks at near 0% interest (lately far less than 1%), so that those banks can take that very same money and reloan it out to us citizens at several percent. It's free money for them with no risk.

    We need to focus on the fundamentals. Cut spending below our budget so that we can use the excess to start paying off the debt. We don't necessarily have to pay it off tomorrow. Any decrease of the deficit at all is progress. 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.
    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.

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    Re: Should the USA default?

    Selling off some national resources isn't a terrible idea. I'm pretty sure we could sell the Grand Canyon for several trillion. So now it belongs to a Chinese consortium. So what? They still have to leave it here. They'll build hotels, casinos, brothels, restaurants, cat rescues and toy stores. They'll hire Americans to staff these, providing jobs.

    Not that we are able to do anything logical like that. Quite the contrary. We must spend more than we make ort the world can't expand. That 17T is in use even as we speak, flowing from country A to country B. As we spend more, there is more to spend. If we raise taxes and cut spending, the world's economy will slow to a crawl.

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    Re: Should the USA default?

    Quote Originally Posted by Canell View Post
    A U.S. Default Seen as Catastrophe Dwarfing LehmanI say print 20 trillion dollars, pay the debt and go on. What do you think?
    Sounds good, but those new $100 dollar bills are still the equivalent of negotiable checks. We are going to pay now or pay later or perhaps, default later. After all, the Federal Reserve Corporation is a Corporation and can file bankruptcy. I think the ripple effects would be more comparable to tidal wave effects worldwide, especially as regards OIL. Bought and sold in US Dollars and we have an agreement with Saudi Arabia to keep it that way. You back your fiat money with gold, silver, assets or military might.

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    Re: Should the USA default?

    The fact that this question is even being asked is completely unacceptable. No matter what your petty political bull**** it is, its NEVER worth destroying the world economy.

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    Re: Should the USA default?

    No one is asking for the whole 17 trillion right now. What we have to do is pay the current expenses of government. Defaulting on current bills would devalue the dollar, increase the interest on existing debt, and put the stock market into a dive that would make 2008 look like a boom year.

    Surely, not even the current Congress is that stupid, is it?

    Is it?... oh, I hope not.
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

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    Re: Should the USA default?

    Quote Originally Posted by Dittohead not! View Post
    No one is asking for the whole 17 trillion right now. What we have to do is pay the current expenses of government. Defaulting on current bills would devalue the dollar, increase the interest on existing debt, and put the stock market into a dive that would make 2008 look like a boom year.

    Surely, not even the current Congress is that stupid, is it?

    Is it?... oh, I hope not.
    Pfft......what do you know?

    Nothing I tell you!

    You need to to get learned by a cow doctor!

    I think, personally, it would bring stability to the world markets,
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

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