Author Topic: What happens if the USA goes bankrupt?  (Read 1199 times)

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Offline Joe

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What happens if the USA goes bankrupt?
« on: April 02, 2019, 10:52:25 PM »
Could it? Will it?

heres an article which tells us what night happen:

https://www.toptenz.net/10-things-happen-united-states-went-bankrupt.php (text)

Video:

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Offline Oliver Clotheshoffe

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Re: What happens if the USA goes bankrupt?
« Reply #1 on: April 02, 2019, 11:08:44 PM »
No more welfare and all the illegals would leave?
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Offline deport_liberals

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Re: What happens if the USA goes bankrupt?
« Reply #2 on: April 03, 2019, 02:10:22 PM »
WHy would it go bankrupt if it prints its own money?

Worst case scenario is borrowing costs would rise.
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Offline AMF

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MacGuffin

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Re: What happens if the USA goes bankrupt?
« Reply #4 on: April 03, 2019, 02:53:30 PM »
If you nitwits thought Obama's Pre-Presidency Economic Meltdown was ugly, The USA Defaulting would be cataclysmic.
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No Okie

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Re: What happens if the USA goes bankrupt?
« Reply #5 on: April 03, 2019, 04:16:01 PM »
If you nitwits thought Obama's Pre-Presidency Economic Meltdown was ugly, The USA Defaulting would be cataclysmic.

Probably so. Those with cash will reap the benefits of such a happening. Probably something that needs to occur
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Offline LotusBud

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Re: What happens if the USA goes bankrupt?
« Reply #6 on: April 03, 2019, 04:17:25 PM »
WHy would it go bankrupt if it prints its own money?

Worst case scenario is borrowing costs would rise.

That's the worst case scenario?  Have you already forgotten the 2008 housing crash?  That, and worse, is on the horizon.

Of course, we could stop spending trillions on interventionist wars, and put laws in place that would prevent a repeat of the housing crisis, and all of our financial woes would be solved.  But too many Muricans have swallowed the war-mongering propaganda pill for that to ever happen.
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Offline deport_liberals

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Re: What happens if the USA goes bankrupt?
« Reply #7 on: April 03, 2019, 04:52:46 PM »
https://en.wikipedia.org/wiki/Hyperinflation_in_the_Weimar_Republic

Well that wasn't the reserve currency of the world...and it wasn't backed up by the most powerful military either. 

I am not saying it could never happen, but there would be a lot of intermediate steps along the way, not a sudden collapse.
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MacGuffin

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Re: What happens if the USA goes bankrupt?
« Reply #8 on: April 03, 2019, 06:09:04 PM »
Well that wasn't the reserve currency of the world...and it wasn't backed up by the most powerful military either. 

I am not saying it could never happen, but there would be a lot of intermediate steps along the way, not a sudden collapse.


Don't be so certain of that. With the national debt we have and all the foreign governments that hold our debt, if they started calling in their notes, a fucking shitpile of money would be wiped from the worlds economy very rapidly, like in 2008, but on meth and steroids.  Just imagine if your Monthly nut was lets say $1000/Month, and suddenly you were only taking in $400/month.
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Offline LotusBud

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Re: What happens if the USA goes bankrupt?
« Reply #9 on: April 03, 2019, 07:33:55 PM »
That, and if US currency is devalued -- say they stop trading oil in dollars -- we're in for a huge shitstorm.

Also, what happens to the US economy when millions of jobs are autmotated, leaving millions unemployed and CONs dead set against guaranteed incomes.  How will the economy sustain itself if no one can afford to buy anything and no one is earning money on which to pay taxes?
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Offline AMF

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Re: What happens if the USA goes bankrupt?
« Reply #10 on: April 03, 2019, 07:45:51 PM »
Those with cash will reap the benefits of such a happening.
In a hyperinflation (see my post above) cash is almost worthless.
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MacGuffin

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Re: What happens if the USA goes bankrupt?
« Reply #11 on: April 03, 2019, 08:14:56 PM »
In a hyperinflation (see my post above) cash is almost worthless.

Don't be so naive to think that Venezuela's crash could never happen here.

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Offline Oak

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Re: What happens if the USA goes bankrupt?
« Reply #12 on: April 03, 2019, 08:20:03 PM »
Maybe we should sell Alaska. 
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Offline Biggie Smiles

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Re: What happens if the USA goes bankrupt?
« Reply #13 on: April 03, 2019, 08:44:09 PM »
Don't be so naive to think that Venezuela's crash could never happen here.


venezula   A model for socialism
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Offline Oak

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Re: What happens if the USA goes bankrupt?
« Reply #14 on: April 03, 2019, 09:02:15 PM »
venezula   A model for socialism

Not that I'm defending socialism, but the real problem in Venezuela is the corruption and kleptocracy.  All those individuals that are for "the people" have robbed the Venezuelan people blind.  Funny how Socialist figures often live better than those they are "fighting" for.

Hugo Chavez's daughter is worth over $6 billion. That's no accident.
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Offline Biggie Smiles

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Re: What happens if the USA goes bankrupt?
« Reply #15 on: April 03, 2019, 09:57:10 PM »
Not that I'm defending socialism, but the real problem in Venezuela is the corruption and kleptocracy.  All those individuals that are for "the people" have robbed the Venezuelan people blind.  Funny how Socialist figures often live better than those they are "fighting" for.

Hugo Chavez's daughter is worth over $6 billion. That's no accident.
In a society where people have zero control over their own destiny the landscape is ripe for the type of corruption that did Venezuela in

The Sanders Cartel, like the Clinton and the Bushes, are hardly free from reproach and would more than likely abuse the silver platter of our freedom should it be handed to them. Just like Chavez did.
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MacGuffin

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Re: What happens if the USA goes bankrupt?
« Reply #16 on: April 03, 2019, 10:31:03 PM »
In a society where people have zero control over their own destiny the landscape is ripe for the type of corruption that did Venezuela in

The Sanders Cartel, like the Clinton and the Bushes, are hardly free from reproach and would more than likely abuse the silver platter of our freedom should it be handed to them. Just like Chavez did.

Clinton and the Bush's were handed the "silver platter of our freedoms" and now Trump, with his lifelong history of grifting behind him has his oily paws on it,  wtf are you talking about?
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Offline Joe

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Re: What happens if the USA goes bankrupt?
« Reply #17 on: April 03, 2019, 10:32:26 PM »
The USA’s plunge into debt & why the good times may not last

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Offline Biggie Smiles

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Re: What happens if the USA goes bankrupt?
« Reply #18 on: April 03, 2019, 10:40:11 PM »
Clinton and the Bush's were handed the "silver platter of our freedoms" and now Trump, with his lifelong history of grifting behind him has his oily paws on it,
and the point?

Trump is not advocating communism. Bernie is. Or did that simple thrust of the argument escape while you while you sought to express your hatred trump for the Billionth time.

I really hoping, for your sake at least, that you realize you cannot build a successful government solely on cornerstone of Trumphobia.

We get it. You think Trump is an asshole. Many of us do too. Now that we've put that behind us. what are YOUR plans moving forward?
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MacGuffin

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Re: What happens if the USA goes bankrupt?
« Reply #19 on: April 03, 2019, 10:56:10 PM »
and the point?

Trump is not advocating communism. Bernie is. Or did that simple thrust of the argument escape while you while you sought to express your hatred trump for the Billionth time.

I really hoping, for your sake at least, that you realize you cannot build a successful government solely on cornerstone of Trumphobia.

We get it. You think Trump is an asshole. Many of us do too. Now that we've put that behind us. what are YOUR plans moving forward?


Get a grip and turn off the Faux Nooze no one is espousing communism, are you one of the fundamentalist fucktards that thinks the Nazis were "Libruls" because socialist was in their name?  Bernie is one of many millions of people that think our economy, specifically our government spending is skewed too far in the wrong direction, how many inoperative F-35's or problem plagued Ford Class Carriers do we need?  Why can't we have roads and bridges, a healthcare system similar to ever other industrialized country, and educational opportunities for the youth of our future?
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