If the US defaults on its debts on August 2

[Imran Khan]

sounds funny US shut down lols .obama take it in deep mess?

 

[jha]

It is so ironic that the people who hate US to he core are the ones who seem to be most caring for US economy ...

 

[Imran Khan]

It is so ironic that the people who hate US to he core are the ones who seem to be most caring for US economy ...

because they are worry for there own economy dear .

 

[VCheng]

...The fires are getting closer, have plenty of food and the windows are bricked-up, but am running short of ammo after fighting off that last gang of cannibals. Send help....

..... Please stop watching too many reruns of Dawn of the Dead.

 

[Ghareeb_Da_Baal]

...The fires are getting closer, have plenty of food and the windows are bricked-up, but am running short of ammo after fighting off that last gang of cannibals. Send help....

Zombies are coming.....................................
I am low on ammo... seriously.

 

[xdrive]

It's hilarious how people think that the U.S will collapse and be destroyed if the U.S defaults on its debt and the streets will be in total anarchy.

It couldn't be further from the truth.

When a country defaults on debt, it's the people who loan them the money that looses out, not the actual country its self. The last country to default on its debt was Argentina. Argentina is still here and functioning is it not?

It's rather simple, don't open your trap unless you know what you are talking about.

...The fires are getting closer, have plenty of food and the windows are bricked-up, but am running short of ammo after fighting off that last gang of cannibals. Send help....

I am informed spider man, he is on his way

 

[Farooq]

...The fires are getting closer, have plenty of food and the windows are bricked-up, but am running short of ammo after fighting off that last gang of cannibals. Send help....

You've been playing too much Left 4 Dead 2 on Xbox buddy

 

[gambit]

It's hilarious how people think that the U.S will collapse and be destroyed if the U.S defaults on its debt and the streets will be in total anarchy.

It couldn't be further from the truth.

When a country defaults on debt, it's the people who loan them the money that looses out, not the actual country its self. The last country to default on its debt was Argentina. Argentina is still here and functioning is it not?

It's rather simple, don't open your trap unless you know what you are talking about.

It is precisely this kind of logical thought process that will earn you enemies. Or the lack thereof that will earn many 'friends' here.

 

[xdrive]

I'm just saying the way it is/would be. It's reality.

 

[Awesome]

Earlier this year due to the Shutdown, the US Consulate in Dubai was paying its staff only for grocery bills and all those who had rent payments coming up. They were really rationing their payroll processing.

I think beginning summer everyone got to celebrate when they released all the money they owed the employees.

The right thing to say is, nobody knows what the US's debt-debacle would mean. With both plans heading towards rejection, it seems unlikely the US won't continue to lose investor confidence...

House vs. Senate on the Debt Ceiling, Christian News

The Three Stooges- Obama, Boehner, and Reid | Washington Times Communities

 

[Awesome]

US House rejects Reid debt ceiling plan

Reid Plan Voted Down by House

Senate kills Boehner bill; House kills Reid bill - Right Turn - The Washington Post

 

[Awesome]

Constitutional Crisis? The Political And Legal Risks Of Ignoring The Debt Limit | TPMDC

Oh man, dangerous times... Obama may ignore the constitution in true dictatorial fashion.

 

[jeypore]

The is np for Oil/GAS here other then fact yes the prices were low for a month or so but went back up again... for the ones that don't know the US has already came up with a back plan with Canada and not just now but it has been in works for several years CANADA has found alot of oil in its sand in a few years US and CANADA will have enough oil then any of the arab states or any other nation in the world ... read up on it on line and you all will see your answers

Infact, currencies traders knew this way back. Infact currencies trading between Canadian dollars and American dollars is so volatile that you could lose your shirt...

 

[bronx]

It's hilarious how people think that the U.S will collapse and be destroyed if the U.S defaults on its debt and the streets will be in total anarchy.

It couldn't be further from the truth.

When a country defaults on debt, it's the people who loan them the money that looses out, not the actual country its self. The last country to default on its debt was Argentina. Argentina is still here and functioning is it not?
P

The Argentina today , is a far cry from theArgentina in the 90s. It is akin to comparing apples to ...rotten apples. Zimbabwe defaulted on their currency obligation and experienced runnaway inflation . Zimbabwe is also still around.

China's Total reserves is US$3.xx Trillion , Euro$4.xx Trillion or AUD$3.xx Trillon . The use of USD ,AUD$ or Euro $ in this case is merely as a indicative benchmark

China's ACTUAL holding of US Treasuries as of April 2011 is just slightly more than 1.1 Trillion , or about 30% of their total reserves. This is a small amount for the Chinese , whoose total reserves exceed AUD$3.4 Trillion (or Euro$3.9 Trillion ) currently

http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt


One has to remember most of China’s wealth is not in dollars, it is in renminbi- CNY. If China were to dump the USD$ treasuries , they would lose on their USD$ international reserves, but they would most certainly gain on every other asset that they own. This includes the vast amount of commodities that they have hoarded .

Contrary to public perception, China does NOT need the USA.

Once the USD$ dumping starts , every other central bank would join the fray. Would any abnk want to be the last man standing ?

Oh...the USA would still be around in ages to come .
Just like Argentina . Just like Zimbawee. What a mess.

Why can't the USA just live within their means , just like everybody else.
I hope that it doesn't have to come to that .

The USA is a great nation. Just stop using credit cards !!

 

[jeypore]

When a country defaults on debt, it's the people who loan them the money that looses out, not the actual country its self. The last country to default on its debt was Argentina. Argentina is still here and functioning is it not?

You forget to mention the Chinese debt!!!!,, but amazingly they kept investing until it got to 3 trillion dollars!!!!!!