HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Topics » Economy & Education » Economy (Group) » OK, so we are going to de...
Introducing Discussionist: A new forum by the creators of DU

Fri Sep 13, 2013, 10:41 PM

OK, 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.

10 replies, 1099 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 10 replies Author Time Post
Reply OK, so we are going to default -- there's no way around this budget impasse (Original post)
melody Sep 2013 OP
hedgehog Sep 2013 #1
melody Sep 2013 #2
Ghost Dog Sep 2013 #10
mbperrin Sep 2013 #3
melody Sep 2013 #4
mbperrin Sep 2013 #5
abelenkpe Sep 2013 #6
melody Sep 2013 #7
Deep13 Sep 2013 #8
melody Sep 2013 #9

Response to melody (Original post)

Fri Sep 13, 2013, 11:13 PM

1. Gas up the car? Shop for groceries early in the week?

I know what to do when there's a big snow storm coming, but not what to do now!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to hedgehog (Reply #1)

Fri Sep 13, 2013, 11:18 PM

2. Yes, well, I've got that covered.

It's the big picture that concerns me.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to melody (Reply #2)

Sun Sep 15, 2013, 06:50 AM

10. See the big picture thus...

Reply to this post

Back to top Alert abuse Link here Permalink


Response to melody (Original post)

Sat Sep 14, 2013, 12:12 AM

3. No one's going to default. The bankers who own the country and collect the interest won't allow it.

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.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to mbperrin (Reply #3)

Sat Sep 14, 2013, 12:16 AM

4. Printing money isn't a pretty option either

How long until that wrecks havoc?

I do appreciate your input.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to melody (Reply #4)

Sat Sep 14, 2013, 12:38 AM

5. Well, the Fed has been printing more than 80 billion a month for several years now.

That's why interest rates on savings are close to zero.

Other than that, seems to be little effect.

Thank YOU for posting!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to melody (Original post)

Sat Sep 14, 2013, 12:52 AM

6. Enjoy your vacation!

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.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to abelenkpe (Reply #6)

Sat Sep 14, 2013, 01:03 AM

7. Thanks!

I appreciate the info. We're headed to Santa Cruz, so it'll be cool either way. lol

Reply to this post

Back to top Alert abuse Link here Permalink


Response to melody (Original post)

Sat Sep 14, 2013, 03:43 AM

8. The best way for the country to protect itself...

...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.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Deep13 (Reply #8)

Sat Sep 14, 2013, 04:36 PM

9. That's the problem with blue sky scenarios

Our lord and masters won't accept all the pain themselves. They will force the "eaters" to pay.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread