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Richardo

(38,391 posts)
Mon Oct 14, 2013, 08:19 AM Oct 2013

Forget Thursday - the damage is done.

By threatening default for the second time in two years, the Tea Party fanatics and their GOP lackeys in the House and Senate have already brought into question (if not destroyed) the notion of US securities as the world's 'ultimate safe investment' (which is probably the one true example of American exceptionalism).

The Chinese editorial calling for a 'de-Americanization' of the world economy is certainly an indication of what's in store.

No matter what the outcome, unless this debt-ceiling farce is done away with in its entirety, once and for all, the rest of the world will adjust their expectations and make their investments and raise their borrowing rates and generally conduct their business and economies with as little involvement from the US as possible.

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Forget Thursday - the damage is done. (Original Post) Richardo Oct 2013 OP
That is why the President is taking such a strong stand on this. However, the damage to our lostincalifornia Oct 2013 #1
True - I should have specified 'economic damage' Richardo Oct 2013 #2
Quite. Laelth Oct 2013 #3
From Bloomberg: It's 1933 all over again! Turbineguy Oct 2013 #4
Well, see, that proves it!! Myrina Oct 2013 #9
This scares me that Republicans are willing yuiyoshida Oct 2013 #5
.. not just the USA but the rest of the world too! flamingdem Oct 2013 #15
Gee whoda guessed?- ruffburr Oct 2013 #6
+1 Liberalynn Oct 2013 #14
October 17th is my birthday. n/t BellaKos Oct 2013 #7
Well, OK, don't *forget* Thursday... Richardo Oct 2013 #8
I've heard the date enough times to last me the rest of my life! BellaKos Oct 2013 #10
you think that's bad, mine's november 22. Richardo Oct 2013 #11
I fear that both dates will live in infamy. BellaKos Oct 2013 #12
Let me wish you a happy b'day anyway nadinbrzezinski Oct 2013 #17
Well, thanx so much, nadinbrzezinski. n/t BellaKos Oct 2013 #18
Our brand has already been damaged. klyon Oct 2013 #13
In the eyes of the world we are very unstable. oldandhappy Oct 2013 #16

lostincalifornia

(3,639 posts)
1. That is why the President is taking such a strong stand on this. However, the damage to our
Mon Oct 14, 2013, 08:26 AM
Oct 2013

democracy is far worse then not raising the debt limit


Turbineguy

(37,374 posts)
4. From Bloomberg: It's 1933 all over again!
Mon Oct 14, 2013, 09:04 AM
Oct 2013

Reneging on its debt obligations would make the U.S. the first major Western government to default since Nazi Germany 80 years ago.

.....The default helped cement Hitler’s power base following years of political instability.....

http://www.bloomberg.com/news/2013-10-13/u-s-risks-joining-1933-germany-in-pantheon-of-deadbeat-defaults.html

Myrina

(12,296 posts)
9. Well, see, that proves it!!
Mon Oct 14, 2013, 09:57 AM
Oct 2013

Obama IS Hitler reincarnated - with a tan!! He's been planning this all along11

Oh Noes!1! Save are country Sister Sarah!!1

yuiyoshida

(41,867 posts)
5. This scares me that Republicans are willing
Mon Oct 14, 2013, 09:10 AM
Oct 2013

to Gun the engine to drive this country right off the cliff... if this doesn't prove they are insane, nothing will.

ruffburr

(1,190 posts)
6. Gee whoda guessed?-
Mon Oct 14, 2013, 09:12 AM
Oct 2013

These tea bag dumb asses haven't figured out that their screwing around playing games with our economy would have a ripple effect around the world and would lead to possible collapse of the dollar on the global market,I'm not an economist but even I could see this train wreck coming, And these fools are in the tea party crazy train running without a conductor taking us all right on over the cliff.

Richardo

(38,391 posts)
8. Well, OK, don't *forget* Thursday...
Mon Oct 14, 2013, 09:46 AM
Oct 2013

...it's just that the economic damage is already done.


Happy Birthday!

BellaKos

(318 posts)
10. I've heard the date enough times to last me the rest of my life!
Mon Oct 14, 2013, 10:11 AM
Oct 2013

But thanks for the good wishes. It's the day *after* that concerns me -- although I do agree that the damage is *being done* already.

klyon

(1,697 posts)
13. Our brand has already been damaged.
Mon Oct 14, 2013, 11:12 AM
Oct 2013

The dollar is going to take a hit no matter when this mess is resolved...True!

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