General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsForget 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.
lostincalifornia
(3,639 posts)democracy is far worse then not raising the debt limit
Richardo
(38,391 posts)Laelth
(32,017 posts)It's just not cool to muck with the full faith and credit of the United States.
-Laelth
Turbineguy
(37,374 posts)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 Hitlers 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)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)to Gun the engine to drive this country right off the cliff... if this doesn't prove they are insane, nothing will.
flamingdem
(39,332 posts)ruffburr
(1,190 posts)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.
This is what happens when too many people prize idiocy over intelligence and common sense.
BellaKos
(318 posts)Richardo
(38,391 posts)...it's just that the economic damage is already done.
Happy Birthday!
BellaKos
(318 posts)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.
Richardo
(38,391 posts):-|
BellaKos
(318 posts)Just our luck, right?
nadinbrzezinski
(154,021 posts)BellaKos
(318 posts)klyon
(1,697 posts)The dollar is going to take a hit no matter when this mess is resolved...True!
oldandhappy
(6,719 posts)And in my eyes, also!!