[QUOTE=SwissArmyKnife;31441247]So basically there's a good chance that the world will be in an apocalyptic situation should the US not raise the debt ceiling by the 15th?
Is that somewhat legitimate or is it sensationalist and scare tacticky? Because saying the world as we know it would end is kind of a big deal.[/QUOTE]
Globalization would basically grind to a halt, not apocalypse, but all countries would basically now need to be far more self-reliant.
This is a better song for the debt crisis.
[media]http://www.youtube.com/watch?v=DUmq1cpcglQ[/media]
Then again things have already been declining for the past 97 years anyways.
[QUOTE=LSK;31441281]In all seriousness, what are the odds of this happening? And what will actually happen? I know it will apparently be "the end of the world as we know it", but how? What does that mean exactly?[/QUOTE]
I just posted [url=http://www.telegraph.co.uk/finance/financialcrisis/8659658/What-happens-if-the-US-defaults.html]this article[/url] on what will happen. In terms of the odds, well, if August 2 turns out to be the legitimate cut-off point (read the article) then there is every chance that it will happen. August 2 is only a few days away and there have been no signs that either party is going to budge.
If it turns out we have another week or so, then something may get done in time.
[QUOTE=Sobotnik;31441300]This is a better song for the debt crisis.
[media]http://www.youtube.com/watch?v=DUmq1cpcglQ[/media]
Then again things have already been declining for the past 97 years anyways.[/QUOTE]
Since the start of WWI?
[QUOTE=LSK;31441281]In all seriousness, what are the odds of this happening? And what will actually happen? I know it will apparently be "the end of the world as we know it", but how? What does that mean exactly?[/QUOTE]
A lot of people will pull money out of America. Businesses will go down over the world, credit will be harder to come by and more expensive, the world economy will shrink and stagnate, and we won't recover for several years longer than expected.
But, in a decade the world will recover once investors start pumping money back into Wall Street again.
I think we're going to have to pull out of Afghanistan soon, if we're defaulting no way we can continue the war.
[QUOTE=Sobotnik;31441300]This is a better song for the debt crisis.
[media]http://www.youtube.com/watch?v=DUmq1cpcglQ[/media]
Then again things have already been declining for the past 97 years anyways.[/QUOTE]
was expecting wagner or a hitler speech
[QUOTE=thisispain;31441360]was expecting wagner or a hitler speech[/QUOTE]
I was not aware that Hitler sung.
[quote]Almost without exception, for the average person it would mean a massive destruction of wealth and a severe reduction in living standards.[/quote]
Please don't default. (from the Telegraph article)
[QUOTE=Sobotnik;31441375]I was not aware that Hitler sung.[/QUOTE]
no the joke is the only thing on your ipod is wagner and hitler speeches
[QUOTE=Sobotnik;31441375]I was not aware that Hitler sung.[/QUOTE]
"hitler speech".
[QUOTE=thisispain;31441392]no the joke is the only thing on your ipod is wagner and hitler speeches[/QUOTE]
No its red army music, Beethoven, Wagner, Prokofiev, Vivaldi and its on a walkman not an ipod.
[QUOTE=Megafanx13;31441330]Since the start of WWI?[/QUOTE]
Yes, that's when things began to get worse for the human race and the present civilisation (Accelerating with the the Second war)
The amount that this could affect Canada is staggering. America need to learn that everyone depends on them.
(Will it affect me personally? No. My dad works for a Scandinavian oil company, my mom works for public health)
Does this really have to happen 5 days before my birthday.
Also how low of living standards are we talking? Like no power?
[QUOTE=Mikesword221;31441455]Does this really have to happen 5 days before my birthday.
Also how low of living standards are we talking? Like no power?[/QUOTE]Atleast you'll be ok before anything really bad happens
I'm october 1st hopefully nothin happens man
I predict a restructuring of the world's economy in the next 20 years because of this mess.
[QUOTE=Sobotnik;31441414]No its red army music, Beethoven, Wagner, Prokofiev, Vivaldi and its on a walkman not an ipod.[/QUOTE]
No Bach?
[QUOTE=Mikesword221;31441455]Does this really have to happen 5 days before my birthday.
Also how low of living standards are we talking? Like no power?[/QUOTE]
The Federal government of America will no longer be able to buy new things. I have no idea how your taxes work in the states, and who owns the power companies.
[QUOTE=deathstarboot;31441480]I predict a restructuring of the world's economy in the next 20 years because of this mess.
No Bach?[/QUOTE]
Oh wait he's here too, and Verde too!
[QUOTE=Roof;31441467]Atleast you'll be ok before anything really bad happens
I'm october 1st hopefully nothin happens man[/QUOTE]
That's gotta suck. I hope it doesn't get bad like no power and such. I mean, that would be really bad.
[QUOTE=Mikesword221;31441455]Does this really have to happen 5 days before my birthday.
Also how low of living standards are we talking? Like no power?[/QUOTE]
We're not going to lose power. If we lost power, we'd have a revolution and be done with it in a day.
If this thing really goes South, I can see states separating.
(This is very sensationalized, and I really doubt it will happen.)
[QUOTE=Fables;31441542]We're not going to lose power. If we lost power, we'd have a revolution and be done with it in a day.[/QUOTE]
I guess but still. You never know with these kinda things. Not about the revolution. About the power.
[QUOTE=Mikesword221;31441580]I guess but still. You never know with these kinda things. Not about the revolution. About the power.[/QUOTE]
Let's put it like this. About no one I talk to even knows this is happening. I'm 100% certain they would be up in arms about losing power, because now, they can't watch their stupid shows.
Part of me thinks there is no way a default can actually happen. [i]Surely[/i] something will get done in time. Things like this don't really happen, like even when the stakes were lower, with the government shutdown, there was a last-minute deal made then. With the stakes this high there is no way they will let this happen.
But when you look at the situation, and look at the amount of time left, and look at what the parties are doing: They aren't even negotiating any more, they are just hopelessly voting up their own plans, knowing that there is no way the other party will pass them. When you look at all that it's very hard to remain optimistic.
If the Republicans wont give in the Democrats will.
[QUOTE=smurfy;31441593]Part of me thinks there is no way a default can actually happen. [i]Surely[/i] something will get done in time. Things like this don't really happen, like even when the stakes were lower, with the government shutdown, there was a last-minute deal made then. With the stakes this high there is no way they will let this happen.
But when you look at the situation, and look at the amount of time left, and look at what the parties are doing: They aren't even negotiating any more, they are just hopelessly voting up their own plans, knowing that there is no way the other party will pass them. When you look at all that it's very hard to remain optimistic.[/QUOTE]
Nice slice of optimism.
[QUOTE=Fables;31441616]If the Republicans wont give in the Democrats will.[/QUOTE]
Unless there is a last-minute compromise made, that definitely seems to be the only way out of this.
[editline]31st July 2011[/editline]
It's good to see this as the top headline on BBC News here in the UK.
[QUOTE=smurfy;31441622]Unless there is a last-minute compromise made, that definitely seems to be the only way out of this.
[editline]31st July 2011[/editline]
It's good to see this as the top headline on BBC News here in the UK.[/QUOTE]
Sadly.
[QUOTE=Roof;31441467]Atleast you'll be ok before anything really bad happens
I'm october 1st hopefully nothin happens man[/QUOTE]
I don't think the world's going to end on a dime. If anything it'll be a slow downhill roll. Small parts of the government will shut down to save money, social security and welfare. What's really going to kill us is the inflation. Prices will soar and no will be able to buy anything, things will quickly go down the shitter from that point.
Like JumpinJackFlash said a couple pages back it's not going to hurt to start preparing for the worst. Yeah you can tin foil hat all you want, but it's much better to be prepared than not should something bad happen.
That means getting essentials now, plastic jugs of water are a good idea, canned food, non-perishables that would have value during an inflation such as cigarettes or lightbulbs. If you don't already own a bicycle now might be a good time to pick one up. Unless you're dealing with large scale looting and rioting you're not really going to need a gun anytime soon, so if you have one great, if not it's not a big deal. If you're old enough you might want to start applying for a gun license on Monday and hopefully you'll be cleared before the 15th.
This is all worst possible scenario preparation though. It's slim that anything worth preparing for is going to happen within the next couple months, but it's not going to hurt to be ready early just in case. If nothing bad happens and this all resolved you have things you'd need anyways.
Now that I think of it, I've neglected our Asian neighbors, Japan and South Korea, they're the ones that will be the most fucked from this due to how much the U.S has invested into both.
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