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skatealex2
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Registered: 07/04/08
Posts: 18,699
Last seen: 5 months, 23 days
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Government default - good or bad ?
#14829335 - 07/26/11 07:11 PM (12 years, 8 months ago) |
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Im watching the news and the government guy ia saying tha a defualt isn't even an option, and we all know the government is known to lie so i bring out the question - would defualting be bad or could it be good for the government?
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Sticky Green
Registered: 03/20/09
Posts: 1,396
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Re: Government default - good or bad ? [Re: skatealex2] 2
#14829343 - 07/26/11 07:13 PM (12 years, 8 months ago) |
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Good, lets burn this fucker down!
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Smokey420
Registered: 10/29/10
Posts: 1,057
Last seen: 8 years, 9 months
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Re: Government default - good or bad ? [Re: skatealex2]
#14829348 - 07/26/11 07:13 PM (12 years, 8 months ago) |
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Who cares what's good or bad for the government, we should be more concerned about what's good for the people.
-------------------- Workers of Shroomery Unite! Warning: Everything I say is possibly a work of fiction. Fuck you NSA
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blazenn
rawdog the whale.
Registered: 05/13/09
Posts: 4,584
Loc:
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Re: Government default - good or bad ? [Re: Smokey420]
#14829366 - 07/26/11 07:17 PM (12 years, 8 months ago) |
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the worst thing i can think of happening in a default is the fact that we could become much more vulnerable to attacks from other countries on top of the fact that the countries we owe money to will be pissed when we can't pay them back any longer. but then again nearly every household in america has atleast 1 firearm and if another country was to try and invade us they would have to go through hell to get anything accomplished.
for the record i don't know shit about what happens when a government has to default
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skatealex2
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Registered: 07/04/08
Posts: 18,699
Last seen: 5 months, 23 days
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Re: Government default - good or bad ? [Re: Smokey420]
#14829389 - 07/26/11 07:22 PM (12 years, 8 months ago) |
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Quote:
Smokey420 said: Who cares what's good or bad for the government, we should be more concerned about what's good for the people.
Word. Yeah thats really what i mean. The government is supposed to be for the people not against them.
Edited by skatealex2 (07/26/11 09:52 PM)
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Le_Canard
The Duk Abides
Registered: 05/16/03
Posts: 94,392
Loc: Earthfarm 1
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Re: Government default - good or bad ? [Re: skatealex2]
#14829409 - 07/26/11 07:26 PM (12 years, 8 months ago) |
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Well. let's see - private credit will dry up, shrinking the GDP, and unemployment will approach 20% or so, amongst other things according to some very learned economists. No it would definitely not be a good thing, for all involved, and you can be damn sure it would affect you guys adversely.
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Yacub
Psychedelic Redneck
Registered: 09/05/09
Posts: 989
Loc: NOLA
Last seen: 10 years, 1 month
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Re: Government default - good or bad ? [Re: skatealex2]
#14829412 - 07/26/11 07:26 PM (12 years, 8 months ago) |
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We should confiscate and auction off all of the assets of the Federal Reserve, default on all money owed to them.
This should be enough to pay off all of our other creditors.
Then we could issue interest free Treasury notes instead of borrowing all of our money into existence (at interest).
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DeadHearts
Registered: 07/17/09
Posts: 21,827
Loc: MICHIGAN
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Re: Government default - good or bad ? [Re: blazenn]
#14829607 - 07/26/11 08:06 PM (12 years, 8 months ago) |
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Quote:
blazenn said: the worst thing i can think of happening in a default is the fact that we could become much more vulnerable to attacks from other countries
Dude WTF?
You serious bro?
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makaveli8x8
Stranger
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Re: Government default - good or bad ? [Re: DeadHearts]
#14829659 - 07/26/11 08:15 PM (12 years, 8 months ago) |
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what about marshall law, if we default anyone see it happening
-------------------- We were sent to hell for eternity Øh® We play on earth to pass the time Over-population the root of all Evil-brings the Elites Closer to the gates.
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AnonymousRabbit
Comrade
Registered: 01/10/08
Posts: 8,993
Last seen: 1 year, 6 months
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Edited by AnonymousRabbit (05/19/22 12:40 AM)
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Patlal
You ask too many questions
Registered: 10/09/10
Posts: 44,826
Loc: Ottawa
Last seen: 9 hours, 1 minute
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Re: Government default - good or bad ? [Re: makaveli8x8]
#14829684 - 07/26/11 08:18 PM (12 years, 8 months ago) |
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IT would be extremely bad for the US.
On the other hand, this debt ceiling has been raised 70 times in that last 30 years (or close to). They are only making this one a huge issue because of the recession and the enormous debt. The republicans are using this situation to grab a solid hold of Obama's balls.
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DeadHearts
Registered: 07/17/09
Posts: 21,827
Loc: MICHIGAN
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My question is. How is this even avoidable at all? I mean the debt is insane and every time they raise the ceiling it just gets worse. Sooner or later countries are going to want some return on their loans??
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The Ecstatic
Chilldog Extraordinaire
Registered: 11/11/09
Posts: 33,752
Loc: 'Merica
Last seen: 5 hours, 40 minutes
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Re: Government default - good or bad ? [Re: DeadHearts]
#14829691 - 07/26/11 08:19 PM (12 years, 8 months ago) |
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bad for the government.
things would be bad for us in the short term, but we've got to stop the spending and say enough is enough.
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Legend
RIP Sasha
Registered: 03/29/10
Posts: 28,336
Loc: TX
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Re: Government default - good or bad ? [Re: Patlal]
#14829694 - 07/26/11 08:20 PM (12 years, 8 months ago) |
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Someone explain to me what will happen if we default. and if it's that bad.
-------------------- No sympathy for the devil, keep that in mind. [url=]Buy the ticket, take the ride. [/url]Are you lost?
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AnonymousRabbit
Comrade
Registered: 01/10/08
Posts: 8,993
Last seen: 1 year, 6 months
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Edited by AnonymousRabbit (05/19/22 12:40 AM)
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Patlal
You ask too many questions
Registered: 10/09/10
Posts: 44,826
Loc: Ottawa
Last seen: 9 hours, 1 minute
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Quote:
supernovasky said:
Quote:
Patlal said: IT would be extremely bad for the US.
On the other hand, this debt ceiling has been raised 70 times in that last 30 years (or close to). They are only making this one a huge issue because of the recession and the enormous debt. The republicans are using this situation to grab a solid hold of Obama's balls.
Here's what's going to happen, mark my words right now.
Boehners bill won't pass due to tea party repubs. Reids bill will be filibustered in the senate until august first. Obama will use the 14th amendment and raise the debt ceiling by himself. The courts will take a year to take it up, if they ever do, but by then the economic situation would be different. Obama gets reelected for making a bold move when congress would not find a common solution.
I haven't been following the situation close enough. IMO what should be done is both plans.
Tax the rich more, slash costs to a maxmimum
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AnonymousRabbit
Comrade
Registered: 01/10/08
Posts: 8,993
Last seen: 1 year, 6 months
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Edited by AnonymousRabbit (05/19/22 12:40 AM)
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AnonymousRabbit
Comrade
Registered: 01/10/08
Posts: 8,993
Last seen: 1 year, 6 months
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Edited by AnonymousRabbit (05/19/22 12:40 AM)
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DeadHearts
Registered: 07/17/09
Posts: 21,827
Loc: MICHIGAN
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Re: Government default - good or bad ? [Re: DeadHearts]
#14829737 - 07/26/11 08:26 PM (12 years, 8 months ago) |
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Quote:
DeadHearts said: My question is. How is this even avoidable at all? I mean the debt is insane and every time they raise the ceiling it just gets worse. Sooner or later countries are going to want some return on their loans??
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Patlal
You ask too many questions
Registered: 10/09/10
Posts: 44,826
Loc: Ottawa
Last seen: 9 hours, 1 minute
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Quote:
supernovasky said:
Quote:
Patlal said:
Quote:
supernovasky said:
Quote:
Patlal said: IT would be extremely bad for the US.
On the other hand, this debt ceiling has been raised 70 times in that last 30 years (or close to). They are only making this one a huge issue because of the recession and the enormous debt. The republicans are using this situation to grab a solid hold of Obama's balls.
Here's what's going to happen, mark my words right now.
Boehners bill won't pass due to tea party repubs. Reids bill will be filibustered in the senate until august first. Obama will use the 14th amendment and raise the debt ceiling by himself. The courts will take a year to take it up, if they ever do, but by then the economic situation would be different. Obama gets reelected for making a bold move when congress would not find a common solution.
I haven't been following the situation close enough. IMO what should be done is both plans.
Tax the rich more, slash costs to a maxmimum
That's reids plan.
Whoever that reid man is or what party he belongs too, I'm rooting for him. Gooooooooo REID!
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