Will America Default?

[suityou01]

BBC News - US shutdown: Barack Obama warns of default danger

US President Barack Obama has warned that Wall Street should be concerned that a conservative faction of Republicans is willing to allow the country to default on its debt.

The US government has partially closed after Congress failed to agree a budget and will run out of cash on 17 October unless its debt ceiling is raised.

Bank CEOs Warn of Consequences From US Shutdown, Default

“There's no debate that the seriousness of the U.S. not paying its debts ... is the most serious thing we have, and we witnessed that in August '11 and you saw the ramifications: a slowdown in the economy,” said Brian Moynihan, chief executive of Bank of America.

The United States came close to default during a similar political crisis in 2011. That standoff prompted a first-ever downgrade of the United States' credit rating.

If America defaults this will make the collapse of Lehman brothers look like a drop in the ocean.

So, will the unthinkable happen?

[Mich the Tester]

I wouldn't put it past the Tea Party.

[DimPrawn]

It all sounds like a once in a lifetime opportunity for dirty spekulants to make a killing.

[SimonMac]

It will never happen, non story really and once again do we need to point out the shutdown has nothing to do with any potential default.

[RedSauce]

It all sounds like a once in a lifetime opportunity for dirty spekulants to make a killing.

How do you mean?

[eek]

Yes, it will happen, the republicans have lost control of the stupider, loonier part of their party who now have to appeal to people who just don't approve of obamacare.

I don't however think we are screwed as we do have some notice and its obviously going to happen....

[scooterscot]

It all sounds like a once in a lifetime opportunity for dirty spekulants to make a killing.

"iScooterscot 5s. Conceived in Scotland, assembled in China, sold in Europe."


Yes yes, but where is it manufactured?

[suityou01]

It will never happen, non story really and once again do we need to point out the shutdown has nothing to do with any potential default.

US President Barack Obama has warned that Wall Street should be concerned that a conservative faction of Republicans is willing to allow the country to default on its debt.
The US government has partially closed after Congress failed to agree a budget and will run out of cash on 17 October unless its debt ceiling is raised.

In a TV interview on Wednesday, Mr Obama said he was "exasperated".

Seriously still think they are unrelated?

<tags SasGuru to step in the ring with some liberal use of the word cretin />

[SimonMac]

Seriously still think they are unrelated?

<tags SasGuru to step in the ring with some liberal use of the word cretin />

Wow Deomcrat blames the other side for the problems, what ever next, our mate Dave blaming everything on guys before him

[suityou01]

Wow Deomcrat blames the other side for the problems, what ever next, our mate Dave blaming everything on guys before him

Good, so you actually agree with me then.