What happens if the US goes bankrupt?

It should because the Russian Military is chilling there waiting to strike.

If the USA goes bankrupt which you pointed out that it already has, it causes the global economy to collapse..

The US can't go bankrupt. The market can do some serious readjusting, but at the end of the day, assets remain assets. When the stock market fell the first time the other day, it was stated that the stock market lost a trillion dollars.

I had a friend a while back that said due to the recent stock market, he lost $30,000. I asked him if he had sold his stock. He hadn't. I asked him how in hell he figured he just lost thirty grand? He said that that was the overnight loss in value.

Real quick. Apparent paper losses are not losses. Even those homes that folks can't pay for still have value. Maybe not what they wish, but the homes haven't gone up in smoke. Hang on long enough and you'll make money off those homes. Short term trends mean little. Long term trends always, and I have to say it again, always climb.

The US has too much equity in too many assets to go broke.

Some of the more stupidly operated banking and financial institutions in their greed made bad decisions. And they will fail. But someone else will pick up the pieces and make a fortune. Like the little duck that won't stay with momma and the rest of the little ducks, the little lone duck who wanders off range will be taken by a predator.

Not every American facility and institution made bad decision. This period right now is a period of immense opportunity. Some will lose. Some will gain.

Originally posted by dooper
The US can't go bankrupt. The market can do some serious readjusting, but at the end of the day, assets remain assets. When the stock market fell the first time the other day, it was stated that the stock market lost a trillion dollars.

Exactly, I think people are confused between the stock market and the actual money that the government owns.

The stock market can crash and get absolutely slaughtered but it will not result in bankruptcy for a country

reply to post by AWingAndASigh

Maybe this is a way to slip in the North American Union as a way of rescuing all of us from a depression. The elite corporate money people can then dispose of the constitution all together instead of a little here and a little there. I don't believe that this isn't within the control of the head of the Federal Reserve and the big money people -most of whom are nameless and faceless to all of us.
So what are we going to do about it? Nothing? Or should we create a movement to all stop spending. How much more colored plastic stuff do we really need? I think if we all freeze all but essential- meaning food - spending , that this would all come to a head a little sooner . The biggest threat to us right now is fear. We are being terrorized by our own government via the mainstream media . Let's spread the word around that we're being hosed by these terrorists and that if we stop playing the game maybe the world will be in a position for some real change.i

reply to post by OzWeatherman


9.5 trillion in debt you mean lol.

reply to post by Cool Hand Luke



OMG this video is a joke right? So let me get this straight....The argument for NOT paying down the debt is that we will "only" leave our kids with 3 trillion in savings??? If the debt keeps going they will have ZERO in savings.

Originally posted by AWingAndASigh
What happens if the US goes bankrupt?

1 - All the US haters will dance for joy - at first.

2 - All the US haters will then have their economies fall into depression - and then they will (as usual) blame the US for their problems.

3 - The Bildebergers will check off 'accomplished' on their to-do list and move on to the next step - NWO with one currency.

Yes - I do believe this will happen.

reply to post by Cool Hand Luke


The image provided gives data up until '05. We are in a much worse scenario nearly 4 years later. The current debt is roughly 10.6T

10.6/14.5 gives ya 73.1% GDP in debt. Seeing as we are averaging a 3.86 billion increase in debt daily, it would only take about another 1000 days before we reach 100% GDP in debt.

Refer to THIS link for details


Forgot to enter GDP increase into the equation. Well GDP increase has been rather low this year. Don't know about the next few, but it seems that it may well be lower, perhaps even a decline. I'll say 1100 days then, or just over 3 years.

Here's a link to a chart that shows GDP growth.


[edit on 30-11-2008 by unityemissions]

[edit on 30-11-2008 by unityemissions]

You guys are outragous. Look at Russia scheming to put propaganda into our minds don't believe a word out of the commies mouths.

Originally posted by chromatico
Nobody wants the US economy to go under because if it does the rest of the world is gonna be worse off than we are. Its difficult to concieve exactly how America would go broke but if it did, the rest of the world would be really bad off because it more or less revolves around American consumption. Furthermore, many countries, China included, are either third world or close to it, so a depression would be worse for them that it would for us.

Not really, because Australia is at a strong in economy standpoint of the world. As I have watched the news and read afew threads and posts, Australia is a "main player" in the world, but still plays under the radar of life.

Originally posted by GrndLkNatv
If the U.S. declares bankruptcy the following will happen:

1. World Wide Great Depression
2. Third World Countries will have massive starvation.
3. Europe will starve
4. China will fall apart and starve
5. The Middle East will go belly up (No Gas, No Money)
6. The United States will have some starvation but since we produce most of the worlds food, most of us will survive.
7. Mexico will go under, massive starvation and disease there.
8. Canada will be rocked, most will survive as they are mostly an agricultural economy.
9. Central/Latin America will collapse, not a lot of starvation, they were already.
10. Africa will starve even more.
11. Pacific Island nations will go on without a problem.
12. There will be war
13. The Soviet Union will implode, most likely will be attacked by the Chinese in need of resources.
14. Japan will have massive starvation and will completely implode, they have no natural resources of their own.
Lots of other things that art not so good.

BTW, Roger K. Young of the LDS predicted this would happen with Bush Jr. in the Whitehouse back in 1984. Check it out on his website.

What? Australia isn't important to be on that list?

The USA will never go bankrupt. How can you go bankrupt when you can print your own money?

What could happen is the dollar becoming worthless. Then any denominated debt would be worthless as well. The problem is that there is a shrinking supply of dollars, not a growing one. The bailout is just going to cover already bad debt. That money will not ever be in circulation. Thus no inflation. Thus the dollar gets stronger and not weaker.

That backward thinking is going to hurt a bunch of people.

Originally posted by disgustedbyhumanity
Thus the dollar gets stronger and not weaker.

That backward thinking is going to hurt a bunch of people.

I beg to differ, Sounds to me like somebody has been asleep at the wheel.

My recent post
www.abovetopsecret.com...'

reply to post by Cool Hand Luke


I see your facts and and say your an idiot

yeah its all nice and dandy that we can have more money if we don't pay the debt... assuming that the debt has NO INTEREST. otherwise after 8 years the 6 Trillion we owe becomes 10.3 Trillion with 7% interest(guess) while the money that is in our safety deposite boxes gains no interest or if its in the bank (1-4%) becomes 8.2 Trillion(thats at 4%) and thats 8 years, hardly enough time for your kids to grow up. If we take that number and say 20 years... you have 23.2 Trillion in debt and only...13.1 Trillion in cash... NOW WHAT ARE YOU GUNNA DO HUH?? moron. Besides, there is only approx 6 Trillion in circulation... so i guess your screwed either way. good thing i live in Canada where we don't let our country go to # by electing a monkey puppet for 2 terms. you guys are screwed whether you like it or not. pretty much unless everyone in america gets together and says 'NO' about all the bad things your government is doing to your country (which will never happen with those religious people who follow bush like a bunch of sheep) your country is screwed beyond repair and you will soon feel the heat from the fire that you've been slowly edging towards. have fun... oh yeah and about obama, he's that nice calm man that everyone can trust... while the states goes bankrupt. why else do you think he was covered by so much media while senator ron paul, who also wanted change in america, got practically no air time. because people want obama to be president. believe me your government is so played out id be shocked if most of your recent presidents weren't hand picked by the global elite.

Originally posted by chromatico
Nobody wants the US economy to go under because if it does the rest of the world is gonna be worse off than we are. Its difficult to concieve exactly how America would go broke but if it did, the rest of the world would be really bad off because it more or less revolves around American consumption. Furthermore, many countries, China included, are either third world or close to it, so a depression would be worse for them that it would for us.

Its true that none of the western world wants the US to go broke but you are seeing too much influence by the US over the global economy. If the US goes broke, China, Korea, Japan, Australia will go bust.

BUT remember, there is the EU across the water which is a larger economy than the US that is powered by the likes of Germany, Italy, France, Spain which have almost nothing to do with the US. Its understandable that if the US collapses, the EU would take a couple of years to recover

I know most Americans like to think they are the centre of the universe and all that but there is a lot more out there than a single country with 300 million people, the largest deficit on the planet and an insatiable taste for Oil.

Originally posted by Dermo

Originally posted by chromatico
Nobody wants the US economy to go under because if it does the rest of the world is gonna be worse off than we are. Its difficult to concieve exactly how America would go broke but if it did, the rest of the world would be really bad off because it more or less revolves around American consumption. Furthermore, many countries, China included, are either third world or close to it, so a depression would be worse for them that it would for us.

Its true that none of the western world wants the US to go broke but you are seeing too much influence by the US over the global economy. If the US goes broke, China, Korea, Japan, Australia will go bust.

BUT remember, there is the EU across the water which is a larger economy than the US that is powered by the likes of Germany, Italy, France, Spain which have almost nothing to do with the US. Its understandable that if the US collapses, the EU would take a couple of years to recover

I know most Americans like to think they are the centre of the universe and all that but there is a lot more out there than a single country with 300 million people, the largest deficit on the planet and an insatiable taste for Oil.

I'll second that! The E.U would likely suffer for a medium period perhaps for 3-5 years, but any suggestion that a collapse in the U.S would signal complete collapse of the E.U is ludicrous at best. Certain posters need to consider that there are more powerful ecconomic ''institutions'' than the U.S!

America is broke - no where else on earth is suffering as badly EXCEPT the UK which is also broke.

The US will not be able to pay for anything more that basic road maintenance and a few other sundries within 10 years - this is a simple fact. Sorry.

America has had no money for ten years, the apparent wealth you are experiencing has been derived from loans - you paid for the Iraq war with money lent to you by China - another fact.

It is true that the world would experience some major pain if the US went bankrupt - and that is EXACTLY what the world wide credit crisis is - your line of credit has been pulled.

The world has not stopped - however your economy has - you are completely stuffed and you are only just tasting the bitter sweet taste of justice for your nefarious ways.

You and your country has been loathed with a passion for over half a century due to your revolting foreign policies - you reap what you sow.

The head of MI5 has just issued a warning to the British to expect serious repercussions for their policy position over the past 500 years (Now there is a serious empire unlike your 50 years) - he goes on to say that the world is about to change forever with a complete change in the balance of power and that the British will bear serious consequences for their actions.

No one wants to see the people of any country hurt, however America and the UK have - the have built their power and wealth on the back of this.

Karma.

reply to post by audas


Quite a direct post and one that, I must admit, I'm inclined to agree with (for the most part anyway). May I ask where I can find this article regarding the chief of M15's statement?

Cheers

That depends if it is "Chapter 7 " or "11"....there is a different between liquidation and reorganization. Arent there some threads that we are supposedly collateral for the mess of the 1870s and 1930s? (panic of 1877 preceded the FRB tho). Assets: Land, gold in ft knox, nukes and taxpayers.

So much for private property rights....but the existing treaties and presidential directives would make it appear legal. But that is the kind of thing that would piss off a lot of people (and require them to open the fema camps). One thing to consider we all have a survival instinct that is why some of you good, law abiding people will do things you would not have ever dreamed possible when you and your kids are starving. The government has also taken on the dynamic of a living state or super governmental entity and it, too, has a survival instinct that supercedes its pledge to protect the Constitution (that is, our collective "rights"). First, seek to understand then attempt to reason why and go from there.....