Will the US Default? (35)
Conrad73: ........and he shall be called O-Bow-ma!
The guy he's bowing for is just out of the picture on the left.
He's assuming the position.
Potholejumper: The GLOBAL EMPIRE is lead by the US Banksters and they're being supported by China and the US citizens The common man is just being repressed the US is still leading the world in profits
All true except that last phrase.
The US has been running a continual trade deficit for years.
There is no "profit". Once the credits and debits are all accounted there's always a loss, and a huge debt that the economy cannot even begin to address. It's barely able to even keep up with the interest.
While everybody's distracted over the non-issue of the debt ceiling, the real crash goes on.
The states are running out of unemployment funds.
And with the real unemployment figure at about 20% nationwide, imagine what's going to happen when the funds dry up.
The maximum number of weeks of unemployment insurance paid varies from state to state, buy no state pays more than 99 weeks and in the near future many hundreds of thousands of people are going to reach the end of their benefits. And that's going to set off a whole cascading sequence of new unemployment as those unemployed consumers no longer have anything to spend.
We're gonna see soup kitchens and bread lines all over the place.
The states are running out of unemployment funds.
And with the real unemployment figure at about 20% nationwide, imagine what's going to happen when the funds dry up.
The maximum number of weeks of unemployment insurance paid varies from state to state, buy no state pays more than 99 weeks and in the near future many hundreds of thousands of people are going to reach the end of their benefits. And that's going to set off a whole cascading sequence of new unemployment as those unemployed consumers no longer have anything to spend.
We're gonna see soup kitchens and bread lines all over the place.
ttom500: Can I vote on this on August 3rd? I will give you the right answer, I promise.
No, the US will not default.
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President Obama Is No Longer Tethered To Reality
He has always been tethered to deception.