Economy
Related: About this forumOK, so we are going to default -- there's no way around this budget impasse
What happens from there to the economy? What can we do to semi-protect ourselves.
Anyone have any guesses?
Seriously, anyone? I have a vacation planned for next week. I'm thinking we should cancel in case.
hedgehog
(36,286 posts)I know what to do when there's a big snow storm coming, but not what to do now!
melody
(12,365 posts)It's the big picture that concerns me.
Ghost Dog
(16,881 posts)and expect 'volatility' in USA shortly?
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mbperrin
(7,672 posts)Even if we did, and no one would loan us a dime, the Fed can simply create the money to pay the bills.
But that's way out.
We never have and are not about to default. It's just kabuki.
melody
(12,365 posts)How long until that wrecks havoc?
I do appreciate your input.
mbperrin
(7,672 posts)That's why interest rates on savings are close to zero.
Other than that, seems to be little effect.
Thank YOU for posting!
abelenkpe
(9,933 posts)They won't default. And if they did, and chaos erupted wouldn't you rather have had one last vacation?
Seriously, don't worry. Don't worry about printing either.
I appreciate the info. We're headed to Santa Cruz, so it'll be cool either way. lol
Deep13
(39,154 posts)...is to tell the creditors to go fuck themselves. Austerity or tax hikes to repay public debt, or to pay interest on it, is a transfer of wealth from the productive lower and middle classes to the parasitic capitalist class. My advice to all debtor countries is not to pay their debts. That will instantly make a lot more cash available for things that will actually help people and improve the economy.
melody
(12,365 posts)Our lord and masters won't accept all the pain themselves. They will force the "eaters" to pay.