Page 1 of 3 123 LastLast
Results 1 to 10 of 23
  1. #1
    Kevin Shiel's Avatar
    Kevin Shiel is offline Administrator Community Builder
    Join Date
    Nov 2004
    Posts
    3,408

    Default Will the United States default on foreign debt?

    I came across an interesting article on Bloomber yesterday about Japan concerned that the United States might default on our debt. 40% of Japans investors are afraid we might not be able to pay our debt. Right now the US has about 10 trillion in debt with a projected ~50 trillion if we were to include debt that is not yet due for Social Security and other government programs.

    I personally think its inevitable that eventually all our debt will cause serious problems, the government with all that it tries to do with giving away foreign aid and failing to live within its means as we all should. I think it comes down to two different options, one we will default on our debt or two the more realistic option is we have the federal reserve print more money which basically destroys the value of our currency.

    What are your guys thoughts on all of this?

    The link to the main article is here.

    http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aQo2GvoJdKVU

  2. #2
    pulp_chicken is offline Senior Member Respected Member
    Join Date
    Apr 2008
    Location
    NA
    Posts
    473

    Default

    I saw cnn today about the debt crisis saying that it will be 11 trillion dollars reaching this year. An unbelievable number. Here's a comparison:


    How to Understand a Trillion-Dollar Deficit


    "One million seconds comes out to be about 11 days.
    A billion seconds is 32 years.
    And a trillion seconds is 32,000 years."

  3. #3
    R3dKnight is offline Senior Member Community Builder
    Join Date
    Jan 2006
    Location
    third world country
    Posts
    4,671

    Default

    well.
    You know there's no easy way out of this problem.

    I guess it will take about 10/15 years for the Americans to Fix their credit/adapt how we live in the
    third world

  4. #4
    echoblaze is offline Senior Member Community Builder
    Join Date
    May 2005
    Posts
    2,601

    Default

    i don't think they will. i don't think anything drastic will happen because it's in everyone's best interest that things remain status quo (by everyone, i mean everyone with power)

    the federal reserve is *already* printing vast, vast amounts of money at an unprecedented rate; but since everyone is doing the same, you don't have to worry too much about inflation.

    in the long term, americans in general have to change their mindset - they need to save more and spend less. the average american is living an unsustainable lifestyle and it's part of why the nation's in such a dilemma today.

    i'd do my part to help, but changing people's opinions/lifestyle is a tough job =\

  5. #5
    4n0nm0$ is offline Senior Member Always Around
    Join Date
    Aug 2008
    Location
    /b/anned
    Posts
    1,194

    Default

    Japan and China a for sure worried to get their money back. After the eight years of Bush desaster it doesn't look good at all. On the one side the biggest state debt ever and on the other side the recession that will hit the US very hard. Many jobs will get lost this year when companies like GM, Chrysler and Banks will go bankrupt. And that's still the pike of the iceberg.
    The home market is going to break away and no none buys american products outside the country.

  6. #6
    R3dKnight is offline Senior Member Community Builder
    Join Date
    Jan 2006
    Location
    third world country
    Posts
    4,671

    Default

    Quote Originally Posted by 4n0nm0$ View Post
    The home market is going to break away and no none buys american products outside the country.
    The last American product I bought
    was a Whirlpool fridge
    Good stuff

    Hope they don't end up as the car industry

  7. #7
    EightBall is offline Senior Member Well Known
    Join Date
    May 2008
    Posts
    347

    Default

    Kekeke. "Made in the USA" is not a brand.
    It's a shame. Kekeke.

    This will be the first country that becomes insolvent. And they didn't even realize yet how fucked they are. Obama will have his four years than they vote republican again. Kekeke.
    And England's next. A economy that only makes money out of money? Brainless. Kekekeke

  8. #8
    Raszagal is offline Senior Member Community Builder
    Join Date
    Jun 2007
    Location
    Fort Europa
    Posts
    4,067

    Default

    Its a bottomless pitt. I think every country got a debt so huge its impossible to pay the money back. I can understand Japans concern. 50 trillion dont just grow on trees. And printing more money (more then they allready are) is not the right way out of debt.

  9. #9
    999Ghosts is offline Senior Member Long Time Member
    Join Date
    Dec 2005
    Posts
    691

    Default

    Ahhh... Music to my ears...


    There is nothing that can compare to human rules inducing chaos that humans try to avoid...

    Cue in: American solution whenever it faces financial turmoil: WAR! Oh, wait... that already failed... stupid Bush.

  10. #10
    R3dKnight is offline Senior Member Community Builder
    Join Date
    Jan 2006
    Location
    third world country
    Posts
    4,671

    Default

    Quote Originally Posted by 999Ghosts View Post
    Ahhh... Music to my ears...


    There is nothing that can compare to human rules inducing chaos that humans try to avoid...

    Cue in: American solution whenever it faces financial turmoil: WAR! Oh, wait... that already failed... stupid Bush.

    The War in Iraq should have solves all your economic problems
    If it he had done it right.
    (selling oil to China/India, rebuilding Iraq while they paid back with Oil)

 

 
Page 1 of 3 123 LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
vBulletin Skin by: ForumThemes.com
Powered by vBulletin® Version 4.2.0
Copyright © 2014 vBulletin Solutions, Inc. All rights reserved.
SEO by vBSEO 3.6.0 PL2

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79