When does the world end from the debt ceiling?

[UserX]

If people keep taking debt free vacations, the world will never end!

[Denny]

Federal laws already on the books say that the interest on the debt be paid with incoming tax dollars before anything else gets paid for. Not raising the debt limit will increase the value of the dollar and our credit rating because our lenders will know that there is a much better chance of us paying them back in full. What not raising the limit will do is cut off the money tit to the entitlement programs that are sucking us dry.

Not raising the limit would be the best thing to ever happen to our country. The fed couldn't sell more debt or print more money.

Are you one of those that think this is still correctable?

[UserX]

Are you one of those that think this is still correctable?

No way it's correctable... damn near every country is in the same boat as us, some even way worse. It's a global problem, not domestic. I see a domino effect happening, then a global crash, and more than likely a world currency as a result. And I sure as hell hope it's not the Chinese yuan.

[Denny]

No way it's correctable... damn near every country is in the same boat as us, some even way worse. It's a global problem, not domestic. I see a domino effect happening, then a global crash, and more than likely a world currency as a result. And I sure as hell hope it's not the Chinese yuan.

IF one of the six major currencies fall, I'm sure it'll have a domino effect. If it's the US Dollar or Euro, I give all fiat currencies one month at the most since those two are so integrated into every economy.

[Denny]

[TexasDevilDog]

If people keep taking debt free vacations, the world will never end!

It will be even better when we have the rental house paid off this year! And pay off our house next year! With absolutely no debt payments we will be cash flowing 6+ grand a month. We will be able to buy another rental, at these reduced prices, every year with cash.

[TexasDevilDog]

Ask Dave Ramsey to explain it if you are that dense.

You have a consistant way of attacking me and never answering the question, in this thread and the one from last month. I'll take that as an indicator that you cannot answer the question.

/thank you, drive through

[Broncojohnny]

You have a consistant way of attacking me and never answering the question, in this thread and the one from last month. I'll take that as an indicator that you cannot answer the question.

/thank you, drive through

Oh I'm sorry, I was hoping you would take my statement to mean I think you are as dumb as a chicken.

[TexasDevilDog]

Oh I'm sorry, I was hoping you would take my statement to mean I think you are as dumb as a chicken.

That's ok. The logic of some people opinions is worth as much as financial advise from broke indebted people on here too.

Just like health advise from an obese nurse.

[Broncojohnny]

That's ok. The logic of some people opinions is worth as much as financial advise from broke indebted people on here too.

Just like health advise from an obese nurse.

Like you have any idea whether people here are indebted or not. I'd hate for you to not be able to look down your nose at people to improve your self worth though.

Maybe one of these days you can grasp how treasury auctions work! After that the sky is the limit.

[Nash B.]

After that the sky is the limit.

Well, just as much as he can afford without using credit.

[KungFuHamster]

My guess is WW3 is a comin'. I'm kinda surprised that china would even give us the loan, knowing that a default was more than likely coming.

This. After WWI when Germany's economy was shit and hyperinflation was destroying everything Hitler gave them a way out and almost made the world more awesome in the process. At least he tried.

So maybe we can do the same.

[slow99]

It will be even better when we have the rental house paid off this year! And pay off our house next year! With absolutely no debt payments we will be cash flowing 6+ grand a month. We will be able to buy another rental, at these reduced prices, every year with cash.

That's ok. The logic of some people opinions is worth as much as financial advise from broke indebted people on here too.

Just like health advise from an obese nurse.

Lmfao

[svauto-erotic855]

Are you one of those that think this is still correctable?

Yep. We have had our debt this high as a % of out GDP before and went on to dominate the world from there. We just need to make a few BIG changes and things will be OK.

Ending all entitlement programs is a great start and so is holding the Feds feet to the fire and only allowing them to do things that are laid out as their responsibilities in the Constitution. Killing the socialist, the cronie capitalist, and the campus elite crowd would also get us most of the way there.

The dollar is strong and so is our nation. Our debt is still backed by precious metals but it is plutonium instead of gold or silver that backs our debt. Nukes and the US Navy are the final defenders of the dollar.

[Denny]

Yep. We have had our debt this high as a % of out GDP before and went on to dominate the world from there. We just need to make a few BIG changes and things will be OK.

Ending all entitlement programs is a great start and so is holding the Feds feet to the fire and only allowing them to do things that are laid out as their responsibilities in the Constitution. Killing the socialist, the cronie capitalist, and the campus elite crowd would also get us most of the way there.

The dollar is strong and so is our nation. Our debt is still backed by precious metals but it is plutonium instead of gold or silver that backs our debt. Nukes and the US Navy are the final defenders of the dollar.

Listen to yourself. What you are asking is too much from the masses AND the politicians trying to win their hearts and votes.

And I hope you do know that our debt is gauged differently nowadays. We're actually way over the GDP if we were going by true numbers like back then. It's kinda like how we gauge inflation, unemployment, banking losses, etc... it's all just a farce to make it look "not so bad." Also, this has to be the worst time ever for the rest of the world to trust the integrity of the American financial system. Why should that be factored? Because we need someone other than the FED buying our debt!