mediablitz: olddinosaur: Hogwash as usual.The world didn't end the last 17 times this happened, and it won't end now.Care to show the class when we defaulted 17 times?
Treygreen13: Interesting how Fark so be so skeptical about everything but read this and believe every word of it.
HotIgneous Intruder: It's not "republicans" doing this.It's religious fundamentalists who have infiltrated the congress via the GOP.
mediablitz: Treygreen13: Interesting how Fark so be so skeptical about everything but read this and believe every word of it.Can we get that in English?
Grand_Moff_Joseph: "Until recently, asking what would happen if the U.S. defaulted on its debt was like asking what unicorns like to eat for breakfast"Silly reporter, that's easy -- Oats with honey, a side of toast, and some juice. Coffee if a certain purple unicorn is at the table.
The Stealth Hippopotamus: actually this:[img541.imageshack.us image 640x480]Is what my Thursday will look like. Goin Fishin
olddinosaur: Hogwash as usual.The world didn't end the last 17 times this happened, and it won't end now.
gnosis301: Didn't read. Was it the capital wasteland from Fallout 3?
Nadie_AZ: Oh. So Fallout. Cool, cool. Anyone got a spare pipboy I can use?
Treygreen13: gnosis301: Didn't read. Was it the capital wasteland from Fallout 3?It was creative writing media fearmongering with a dash of ooga-booga and a side of pearl-clutching.
Wolfling: Its a bit unfashionable to have a moderate view of this stuff... but here goes.
bulldg4life: I'm just glad that the party of fiscal responsibility has us on a path that has and will continue to cost America tens of billions of dollars.What's the cost of an actual default? One additional point or more on interest payments plus credit downgrades?That's gotta be a nice even $200b
Wolfling: Its a bit unfashionable to have a moderate view of this stuff... but here goes.Interest rates will go up significantly in the US, but in other countries, where only a small percentage of internationally secured loans depend on US bonds, they'll only climb a percentage point or so. For the vast majority of people, this just means a small hike in their home loan payments.Commodity markets will be largely unaffected. Manufacturers will continue to acquire raw materials, and will continue to sell their goods. Indeed any sector of the market that deals in tangibles will continue to function just fine. The banks will hurt a bit, and one or two of them might go under. A lot of people will lose some of their savings. Anyone who makes their living by milking the markets (eg not actually making anything useful) will hurt a bit - though there will always be a few who will profit from the situation.The people who will suffer the most will be the 401ks and those who are so close to the poverty line that they can't afford another $500 per month on their mortgage. And almost all of these will be US citizens. Most of these folks won't go under on day 1. It'll take between a month and a year for their cash reserves to dry up... and that's only the small percentage who aren't able to adapt to the new environment.So, the property market will dip (not plunge) on a wave of defaults, and it'll take 5-7 years for it to restabilise back to current levels. Homelessness will rise a little. Quality of living measures will drop off by a percentage point or two.Its not exactly rioting in the streets now, is it?
Maul555: It seems that everybody is missing the fact that all of these "continuing resolutions" and continuing debt ceiling crises are a direct result of this President and the democrats not signing off on a real budget since Obama took office. That's right, this country has not had a budget in almost 6 years now. The same budget that is mandated to be passed every farking year... We don't need a farking CR, we don't need any farking debt cieling negotiations... Cut to the point and pass 1 damned budget in 2 farking terms in office!
orclover: House Speaker John Boehner wakes up in his bed, after a short and sleepless night.Stopped reading there.
Quantum Apostrophe: Treygreen13: Interesting how Fark so be so skeptical about everything but read this and believe every word of it.Fark... Skeptical? This is the same Fark where we will 3D print cars and warp drives next week because spaaaaaaaace?
toraque: orclover: House Speaker John Boehner wakes up in his bed, after a short and sleepless night.Stopped reading there.Really? That's where it starts getting good. ". . . For a few heart pounding moments, he hoped it had all been a dream--but the pain in his rectum, not to mention the greasy, slippery feeling of lubricant all over his thighs and the paper cuts on his ass told their own story. Yes, there it was, still where it had been thrown the night before while in the grip of a sexual frenzy--the United States Constitution, covered in santorum, sticking to the wall. Meth, he through wildly, meth always does this to me-- Terrified, John turned to the motionless lump next to him in bed, praying to God that it wasn't Ted Cruz, let it be anyone other than Ted Cruz, let it be the mummified remains of Reagan dug up yet again in a drug-fueled panic, anyone but Ted Cruz-- When John pulled the covers back and saw, he screamed and screamed and screamed--
cchris_39: In other news, the govenment will still be taking in $3.1 trillion and net interest payments are about $220 billion.http://www.usgovernmentspending.com/us_budget_pie_chart">http://www. usgovernmentspending.com/us_budget_pie_chart
bulldg4life: Why do the "lets treat the us budget like a family at the kitchen table" republicans seem to coincide nicely with the idiots that think default is ok?What happens when you tell visa and Amex that you're going to stop paying your credit card bills cause you shouldn't have purchased all that cool stuff 6 months ago?
haywatchthis: [img.fark.net image 502x335]
Elegy: Proof that every single one of you should have bought gold and were wrong for mocking Glenn Beck all those years.
Eddie Adams from Torrance: Elegy: Proof that every single one of you should have bought gold and were wrong for mocking Glenn Beck all those years.HA! While all you idiots have been busy buying gold, I've been quietly cornering the market on wheelbarrows, which you're gonna need to haul that 150lbs of gold down to the store to buy a pack of smokes.
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