US Default will cause “Massive disruption the world over.” says IMF Chief - Polidicks

[url]http://www.nbcnews.com/business/imf-chief-us-default-would-bring-massive-disruption-8C11381827[/url] [QUOTE]International Monetary Fund Managing Director Christine Lagarde warned in an interview that the combination of a U.S. government shutdown coupled with a default on the country’s debt — looming if Republicans and the White House can’t reach a deal soon — would bring “massive disruption the world over.”... “When you are the largest economy in the world, when you are the safe haven in all circumstances, as has been the case, you can't go into that creative accounting business,” Lagarde said. The extended interview will air Sunday on Meet the Press. There is no indication that a deal was near to reopen the government or to avoid default. [/QUOTE] Misrepresenting national finances is a great idea. If only.

Well at least it will change the current system drastically.

[QUOTE=duno;42506103]Well at least it will change the current system drastically.[/QUOTE]Ha we'll see

It would be interesting to be talking about the 2nd great depression in the future. Experencing it would kind of suck though.

[QUOTE=duno;42506103]Well at least it will change the current system drastically.[/QUOTE] Yeah, for the worse.

-snip- my hs government teacher was a shithead we're all fucked

Disruption for all but congress and shit I bet right? Fucking politics make me angry

[QUOTE=Squad1993;42506374]Defaulting won't affect "us," the people. Just the corrupt and broken government that allowed it to happen.[/QUOTE] Can I have some drugs?

burn it down

ask the EU to bail you out as a pratical joke

[url="http://www.reuters.com/article/2013/10/12/us-usa-fiscal-banks-idUSBRE99B09F20131012"]Reuters[/url] [quote](Reuters) - Three of the world's most powerful bankers warned of terrible consequences if the United States defaults on its debt, with Deutsche Bank chief executive Anshu Jain claiming default would be "utterly catastrophic." "This would be a very rapidly spreading, fatal disease," Jain said on Saturday at a conference hosted by the Institute of International Finance in Washington. "I have no recommendations for this audience...about putting band aids on a gaping wound," he said.[/quote] Welp

[QUOTE=GunFox;42506385]Can I have some drugs?[/QUOTE] how many maryjewanas you wanna inject?

[QUOTE=Zenreon117;42506403][url="http://www.reuters.com/article/2013/10/12/us-usa-fiscal-banks-idUSBRE99B09F20131012"]Reuters[/url] Welp[/QUOTE] I suppose the Mayans were just off by a year :v:

[QUOTE=Primigenes;42506467]Do you live in a box[/QUOTE] He will if the the default goes.

if anyone degrades our credit rating we'll just name them as an enemy combatant!

I'm no expert at all and I probably sound like an idiot but could this be at all beneficial in the long term for the US? I mean, if we ever get the economy restarted and start anew with no foreign debt.

[QUOTE=SnakeHead;42506503]I'm no expert at all and I probably sound like an idiot but could this be at all beneficial in the long term for the US? I mean, if we ever get the economy restarted and start anew with no foreign debt.[/QUOTE] The US would be alright, but only if it survives the crushing economic depression and widespread bank panics. Odds are, it'll last quite a long time and personally I'd rather not see a better US when I'm 50 years old and not beforehand.

This is starting to look like a better idea: [media]http://www.youtube.com/watch?v=TRgRz3nSG7o[/media]

A lesson for running capitalist countries in future: Set up 'First Great Bank of Flopsville' as a government organisation. Introduce currency but don't even bother with gold standard or any other kind of real measurement in the first place, just have the number as a virtual entity that people just believe in the existence of. That way you can just create currency out of thin air and no one will even question it. And, everyone would just keep pretending that their coins and notes mean something and live happily ever after. Of course this doesn't fix anything, but it's probably the best way that capitalism could ever be done.

[QUOTE=Mingebox;42506522]This is starting to look like a better idea: [media]http://www.youtube.com/watch?v=TRgRz3nSG7o[/media][/QUOTE] Well by now we've well and truly proven that neither pretending to be Canada, nor burning the country down for insurance, are going to work. But congress will probably try the sand worms first.

[QUOTE=SCopE5000;42506562]A lesson for running capitalist countries in future: Set up 'First Great Bank of Flopsville' as a government organisation. Introduce currency but don't even bother with gold standard or any other kind of real measurement in the first place, just have the number as a virtual entity that people just believe in the existence of. That way you can just create currency out of thin air and no one will even question it. And, everyone would just keep pretending that their coins and notes mean something and live happily ever after. Of course this doesn't fix anything, but it's probably the best way that capitalism could ever be done.[/QUOTE] Umm, Isn't that what we do already? Anyways, I know this is going effect FASFA, so I am so fucked, I need to start looking into geting a loan from a private bank or something, just incase.

[QUOTE=Intoxicated Spy;42506607]Umm, Isn't that what we do already? Anyways, I know this is going effect FASFA, so I am so fucked, I need to start looking into geting a loan from a private bank or something, just incase.[/QUOTE] The dollar bill is supposed to represent a small percentage of silver from the national treasury. Whether it actually does or not at this point is the question. Shit nevermind, yeah it's a fiat currency now, not worth shit in terms of an actual material. I'm way behind on that. :v:

As selfish as this question is going to sound like, I have to ask. What is going to happen to [b]me[/b] during this? Will it be harder for me to get into college, or get a job? Is this going to last long, could I leave the country? Is it going to be that horrible as alot of people are obviously trying to say? Or are we worried because we've never defaulted before?

[QUOTE=Pvt. Martin;42506655]As selfish as this question is going to sound like, I have to ask. What is going to happen to [b]me[/b] during this? Will it be harder for me to get into college, or get a job? Is this going to last long, could I leave the country? Is it going to be that horrible as alot of people are obviously trying to say? Or are we worried because we've never defaulted before?[/QUOTE] Honestly it sounds like you'll have to wait and see how people deal with this since it's never happened before. If it turns into a depression though it could affect everything you've mentioned. I'm almost 100% positive it won't happen anyways, don't worry. Not anything we can do about it anyways except learn from the mistakes.

[QUOTE=LSK;42506678]Honestly it sounds like you'll have to wait and see how people deal with this since it's never happened before. If it turns into a depression though it could affect everything you've mentioned. I'm almost 100% positive it won't happen anyways, don't worry. Not anything we can do about it anyways except learn from the mistakes.[/QUOTE] I hope it won't happen, and if it does it will at least be somewhat interesting I pray. Optimism ho! c:

If this actually were to happen, then some people need to go to jail. If those people don't go to jail, then they should be removed from office permanently. The biggest threat to the well-being of America is not Al-Qaeda, it's the government. If this default were to happen, it would be a blow that would make 9/11 look like a baby hitting you with a toy hammer.

How many times has this default problem reared it's ugly head?

[QUOTE=Richardroth;42506778]How many times has this default problem reared it's ugly head?[/QUOTE] Many, but this is the time we all fear it may actually go belly-up.

in before we don't default and everything is okay

I have nothing to fear. Shall the world economy go belly-up we will simply coast into the center of the Atlantic Ocean via tea-jets and subside off our secret supply of tea. How will we get oil? Simple. We have developed secret technologies to convert crumpets into crude oil. We shall become the ubermensch. And in 2020, when the world is feasting off the irradiated worms after ten more World Wars, we shall return with our vast technologies and save man. Presided over by the Jam-Emperor of Mankind, a sentient Jammy Dodger developed via genetic splicing. God save the queen.