Will the USA default?

[ducatilover]

BOOBIES

[sil3nt]

Probably already been asked but who do these countries owe the money too?

[Edbear]

Probably already been asked but who do these countries owe the money too?

http://www.ritholtz.com/blog/2011/03...-owe-money-to/

[SPman]

Oooh look at that big wedge in the Social Security Trust Fund - I bet they'd like to get their dirty little mits on that ...........

[Banditbandit]

China !!! The Yellow peril Communists have been supporting the great Capitalist Satan ...

Bugga me dead with a penny ... I would never have picked that ..

[Vacquer0]

"Russian Prime Minister Vladimir Putin accused the United States on Monday of living beyond its means "like a parasite" on the global economy and said dollar dominance was a threat to the financial markets.

"They are living beyond their means and shifting a part of the weight of their problems to the world economy," Putin told a Kremlin youth group while touring its summer camp north of Moscow.

"They are living like parasites off the global economy and their monopoly of the dollar."

US President Barack Obama announced a last-ditch deal to cut about $2.4 trillion from the U.S. deficit over a decade, avoid a crushing debt default and stave off the risk that the nation's AAA credit rating would be downgraded.

The deal initially soothed anxieties and led Russian stocks to jump to three-month highs, but jitters remained over the possibility of a credit downgrade.

"Thank god," Putin said, "that they had enough common sense and responsibility to make a balanced decision."

But Putin, who has often criticised the United States' foreign exchange policy, noted that Russia holds a large amount of U.S. bonds and treasuries.

"If over there (in America) there is a systemic malfunction, this will affect everyone," Putin told the young Russians.

"Countries like Russia and China hold a significant part of their reserves in American securities ... There should be other reserve currencies."

U.S.-Russian relations soured during Vladimir Putin's 2000-2008 presidency but have warmed significantly under President Barack Obama, who took office in 2009 promising a "reset" in bilateral ties."

[Robert Taylor]

"Russian Prime Minister Vladimir Putin accused the United States on Monday of living beyond its means "like a parasite" on the global economy and said dollar dominance was a threat to the financial markets.

"They are living beyond their means and shifting a part of the weight of their problems to the world economy," Putin told a Kremlin youth group while touring its summer camp north of Moscow.

"They are living like parasites off the global economy and their monopoly of the dollar."

US President Barack Obama announced a last-ditch deal to cut about $2.4 trillion from the U.S. deficit over a decade, avoid a crushing debt default and stave off the risk that the nation's AAA credit rating would be downgraded.

The deal initially soothed anxieties and led Russian stocks to jump to three-month highs, but jitters remained over the possibility of a credit downgrade.

"Thank god," Putin said, "that they had enough common sense and responsibility to make a balanced decision."

But Putin, who has often criticised the United States' foreign exchange policy, noted that Russia holds a large amount of U.S. bonds and treasuries.

"If over there (in America) there is a systemic malfunction, this will affect everyone," Putin told the young Russians.

"Countries like Russia and China hold a significant part of their reserves in American securities ... There should be other reserve currencies."

U.S.-Russian relations soured during Vladimir Putin's 2000-2008 presidency but have warmed significantly under President Barack Obama, who took office in 2009 promising a "reset" in bilateral ties."

Putin and Russia cannot through their own histories claim the moral high ground but Putin was bang on with his views on the US economy.

[SPman]

"Thank god," Putin said, "that they had enough common sense and responsibility to make a balanced decision."

..............

[Teflon]

"Russian Prime Minister Vladimir Putin accused the United States on Monday of living beyond its means "like a parasite" on the global economy and said dollar dominance was a threat to the financial markets.

"They are living beyond their means and shifting a part of the weight of their problems to the world economy," Putin told a Kremlin youth group while touring its summer camp north of Moscow.

"They are living like parasites off the global economy and their monopoly of the dollar."

US President Barack Obama announced a last-ditch deal to cut about $2.4 trillion from the U.S. deficit over a decade, avoid a crushing debt default and stave off the risk that the nation's AAA credit rating would be downgraded.

The deal initially soothed anxieties and led Russian stocks to jump to three-month highs, but jitters remained over the possibility of a credit downgrade.

"Thank god," Putin said, "that they had enough common sense and responsibility to make a balanced decision."

But Putin, who has often criticised the United States' foreign exchange policy, noted that Russia holds a large amount of U.S. bonds and treasuries.

"If over there (in America) there is a systemic malfunction, this will affect everyone," Putin told the young Russians.

"Countries like Russia and China hold a significant part of their reserves in American securities ... There should be other reserve currencies."

U.S.-Russian relations soured during Vladimir Putin's 2000-2008 presidency but have warmed significantly under President Barack Obama, who took office in 2009 promising a "reset" in bilateral ties."

Vladimir is a fucking good cunt..



here he sings for charity

[SPman]

Vladimir is a fucking good cunt..

About as good as the current crop of world heads...just don't turn your back on him.............

[Vacquer0]

[Vacquer0]

"The bill to increase the federal debt limit that has been put before Congress today would increase that limit by up to $2.4 trillion, which would be the largest increase in the debt limit in U.S. history by a margin of half a trillion dollars, according to records published by the Government Accountability Office and the Congressional Research Service."

Time for them to cut up the credit cards and throw them in the trash, just like the real world.

[Edbear]

All they've done is bought, (literally!), themselves a short reprieve, as they still have to meet the next round of payments. If they can't cut spending by a significant amount they're still too deep in the poo. Look for severe cuts to welfare and the military with serious job losses adding to their woes.

[Paul in NZ]

All they've done is bought, (literally!), themselves a short reprieve, as they still have to meet the next round of payments. If they can't cut spending by a significant amount they're still too deep in the poo. Look for severe cuts to welfare and the military with serious job losses adding to their woes.

The USA has owed more per capita in the past but then they fought out of it by de militarization and fast growth. I dont think thats going to work this time...

[Ocean1]

The USA has owed more per capita in the past but then they fought out of it by de militarization and fast growth...

...And by strategically fucking with the exchange rate in their favour.

All of the big economies do it. The sooner we've got a global currency the better. Maybe.