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mazza

US Debt Ceiling

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Is this history in the making?

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No, it isn't.

Obama's statement that we must raise the debt ceiling or face inevitable default in one week's time is a false dichotomy designed to stir panic and put pressure on congress to do what he wants. We have more than enough money to pay the interest on the debt, which is all that is needed to avoid default. If Obama actually cared about the United States' credit rating, he'd acknowledge this fact, and he'd publicly assure us all that staying current on its debt is the country's number one financial priority. But alas, he is a politician.

Down the line when we can't get any more money out of China and we're forced to inflate our way out of debt, then you'll see some history.

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Business in Washington as usual. See above post.

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Let them raise the ceiling, that will just make them fall harder next fiscal year, and half the world will be dragged with 'em. It will happen, its just a matter of time.

As soon as dthe Dollar is not bakced up by the Peoples bank of china it will radiply loose in exchange rate.

In turn the debt value will also decrease...but

It will look like that:

http://upload.wikimedia.org/wikipedia/commons/thumb/4/41/100-Billionen-Geldschein-2.jpg/800px-100-Billionen-Geldschein-2.jpg

<Do not post images over the size of 100kb> -RW

Thats how germany tried to get rid of its debt after WWI

Edited by RalphWiggum

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Hi all

Hint there is already a US politics thread.

But as we are here, it seems like since the Republican's could not destroy the US economy the first time they are determined to do it now that control of congress has given them a second chance.

Kind Regards walker

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