US Economic Collapse US Economic Collapse
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  1. #1

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    Default US Economic Collapse

    If the politicians can't sort out their differences soon and the debt ceiling is not lifted there could be a default event on the most important reserve currency. Also mark the moves by UK to allow sterling to be directly convertible to the RNB. How bad could it get?

  2. #2

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    They've already said they will lift the ceiling in time IIRC

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    I see it as an opportunity.

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    It's a non-story.
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    Urine is quite nourishing

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    Default However, did you notice

    The time between these revisions to increase the debt ceiling reduces and reduces. A bit like contractions and then one day - boom.

    It's like watching the world's slowest car crash and my is it boring.
    “We've always defined ourselves by the ability to overcome the impossible. And we count these moments. These moments when we dare to aim higher, to break barriers, to reach for the stars, to make the unknown known. We count these moments as our proudest achievements. But we lost all that. Or perhaps we've just forgotten that we are still pioneers. And we've barely begun. And that our greatest accomplishments cannot be behind us, because our destiny lies above us.”

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    Quote Originally Posted by scooterscot View Post
    It's like watching the world's slowest car crash and my is it boring.
    But enough about the Scottish independence issue
    Doing the needful since 1827

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    Quote Originally Posted by Platypus View Post
    They've already said they will lift the ceiling in time IIRC
    And every country that has defaulted - has vehemently insisted that they won't default - right up until they default.

    I agree it's highly unlikely, but the problem with leaving things until the 11th hour - is that it only takes one highly unexpected turn - and suddenly they are out of time.

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    USA defaulted in the past.

    Don't think it will happen this time...

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    Quote Originally Posted by amcdonald View Post
    But enough about the Scottish independence issue
    Except this is not a crash -

    It's a rebirth.
    “We've always defined ourselves by the ability to overcome the impossible. And we count these moments. These moments when we dare to aim higher, to break barriers, to reach for the stars, to make the unknown known. We count these moments as our proudest achievements. But we lost all that. Or perhaps we've just forgotten that we are still pioneers. And we've barely begun. And that our greatest accomplishments cannot be behind us, because our destiny lies above us.”

  10. #10

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    Quote Originally Posted by russell View Post
    If the politicians can't sort out their differences soon and the debt ceiling is not lifted there could be a default event on the most important reserve currency. Also mark the moves by UK to allow sterling to be directly convertible to the RNB. How bad could it get?
    You mean things can actually get any worse?

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