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Nikonzen

Senior Member
Nov 3, 2014
2,570
13
0
48
Oklahoma, USA
#1
Say USA decides to restructure it's national debt, basically default, what happens?
 

Zenten

Deregistered
Jun 13, 2004
9,845
8
38
#2
China LL lor ......... :)
 

Zenten

Deregistered
Jun 13, 2004
9,845
8
38
#3
O$P$ ....if not make your White House red ................:p
 

Nikonzen

Senior Member
Nov 3, 2014
2,570
13
0
48
Oklahoma, USA
#5
Interest payment bound to get so big it can't be made so seems to be an inevitable scenario.
 

Yutaka Go

Senior Member
May 22, 2010
983
7
18
SG
#9
[video=youtube;9Z5py1098RA]https://www.youtube.com/watch?v=9Z5py1098RA[/video]

Look at what happen to Zimbabwe and Greece :(

Countries that peg their currency to US$ will also goes down :(

US$ is no longer peg to GOLD since 1973.

US$ is basically a IOU note from Uncle SAM.

US$ is peg to a promise to repay the debt.

If the promise is broken, the US$ is broken.
 

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Nikonzen

Senior Member
Nov 3, 2014
2,570
13
0
48
Oklahoma, USA
#10
My state is facing massive budget shortfall. Many towns and municipalities and cities and states across the country are in a similar situation if not already bankrupt. There is Puerto Rico or wherever in the Carib which is bankrupt apparently.

I would assume a nice chunk of the national debt is held by American companies and Americans themselves through retirement accounts pensions investments entitlement structures etc.

I could see my gooberment default on the people and make a deal with foreign creditors.

I think it all hinges on what the petro dollar does myself but who knows???

Economics is a fascinating deal...
 

donut88

Senior Member
Nov 14, 2008
2,182
5
0
#11
My state is facing massive budget shortfall. Many towns and municipalities and cities and states across the country are in a similar situation if not already bankrupt. There is Puerto Rico or wherever in the Carib which is bankrupt apparently.

I would assume a nice chunk of the national debt is held by American companies and Americans themselves through retirement accounts pensions investments entitlement structures etc.

I could see my gooberment default on the people and make a deal with foreign creditors.

I think it all hinges on what the petro dollar does myself but who knows???

Economics is a fascinating deal...
How bad is the situation at your state or hometown?

Public services been stopped? How about water supply?

Give us some perspective
 

Nikonzen

Senior Member
Nov 3, 2014
2,570
13
0
48
Oklahoma, USA
#12
A one point three billion dollar hole.

They say they aren't going to cut schools...we are already ranked 49 of 50 in schools.

Our bridges and roads? among the worst in the nation...literally crumbling. A few years back a big bridge collapsed into the lake killing several people in their cars.

our state elected not to take federal dollars concerning Obama care. We are ranked in the high forties concerning health care in the nation. More teen pregnancies than most other states in the nation. They are saying they will not cut medicare by 25% leaving our seniors and disabled (many of whom are cheats) to fend for themselves. We shall see.

We are the reddest state in the nation. Big Oil and big Corporations get a boatload of tax credits here.

In another few years our whole state will look like Detroit and Puerto Rico.

That is what happens when you put all your eggs in the oil basket.

PS BTW Oral sex is not illegal rape if the victim was/is drunk and unconscious.

Bury your head in the sand seems to be the order of the day.

Oh yeah recently we convicted a good old boy 74 year old (!) rich reserve status deputy who bought and outfitted his own personal patrol car and bought the sheriff's office a bunch of tasers. He shot at point blank range and killed a suspect in a criminal investigation who was held on the ground by two cops already in custody. He 'mistook' his service revolver for his taser. He was unqualified his records tidied up and many covered for him.

It is the mother of all breakdowns in the dust bowl that is Oklahoma.
 

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Nikonzen

Senior Member
Nov 3, 2014
2,570
13
0
48
Oklahoma, USA
#13
I get regular notices from my public water utility that our water does not meet federal standards...been getting them for years. The problem is agricultural runoff and poluting of the watershed by poultry producers in Missouri and Arkansas.

This gives you an idea of why I laugh whenever I read an article in USA media about how bad China is to relate it all to your part of the world.

ICE deports all illegal immigrants immediately...many youngsters are housed in federal holding pens in my state. Sharia law is on the books as not permitted. English is official and only language on the books.
 

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Nikonzen

Senior Member
Nov 3, 2014
2,570
13
0
48
Oklahoma, USA
#14
Several years ago they closed all state run mental health institutions. They literally pout most of the patients on buses to the big cities where they live to this day...homeless. I have walked around downtown and saw these people walking around talking to themselves, yelling at people who are not there, etc.
 

Nikonzen

Senior Member
Nov 3, 2014
2,570
13
0
48
Oklahoma, USA
#15
Ironically not so long ago in the late twenties and thirties, Tulsa my hometown, was the oil capitol of the world, the richest city on the planet, with the most millionaires on the planet in residence there.
 

donut88

Senior Member
Nov 14, 2008
2,182
5
0
#16
A one point three billion dollar hole.

They say they aren't going to cut schools...we are already ranked 49 of 50 in schools.

Our bridges and roads? among the worst in the nation...literally crumbling. A few years back a big bridge collapsed into the lake killing several people in their cars.

our state elected not to take federal dollars concerning Obama care. We are ranked in the high forties concerning health care in the nation. More teen pregnancies than most other states in the nation. They are saying they will not cut medicare by 25% leaving our seniors and disabled (many of whom are cheats) to fend for themselves. We shall see.

We are the reddest state in the nation. Big Oil and big Corporations get a boatload of tax credits here.

In another few years our whole state will look like Detroit and Puerto Rico.

That is what happens when you put all your eggs in the oil basket.

PS BTW Oral sex is not illegal rape if the victim was/is drunk and unconscious.

Bury your head in the sand seems to be the order of the day.

Oh yeah recently we convicted a good old boy 74 year old (!) rich reserve status deputy who bought and outfitted his own personal patrol car and bought the sheriff's office a bunch of tasers. He shot at point blank range and killed a suspect in a criminal investigation who was held on the ground by two cops already in custody. He 'mistook' his service revolver for his taser. He was unqualified his records tidied up and many covered for him.

It is the mother of all breakdowns in the dust bowl that is Oklahoma.
U are making Singapore looks like a heaven on earth.

We will welcome you, bro!
 

Nikonzen

Senior Member
Nov 3, 2014
2,570
13
0
48
Oklahoma, USA
#17
If I weren't married I'd probably already be visiting bro.

Asia is the place to be in the 21st century.
 

donut88

Senior Member
Nov 14, 2008
2,182
5
0
#18
If I weren't married I'd probably already be visiting bro.

Asia is the place to be in the 21st century.
Talking abt Detroit. What's happening to it now?

I asked some Americans abt this couple of years back and they were shaking their heads in shame.
 

#19
If I weren't married I'd probably already be visiting bro.
Don't worry. Our law allows you to have a woman or as many as you can afford and desire even if you're married. :bsmilie:

However it's important to understand that your body is an organism but not a 4-stroke engine that never stops. :bsmilie:
 

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donut88

Senior Member
Nov 14, 2008
2,182
5
0
#20
Don't worry. Our law allows you to have a woman or as many as you can afford and desire even if you're married. :bsmilie:

However it's important to understand that your body is an organism but not a 4-stroke engine that never stops. :bsmilie:
Hey, don't anyhow give him the wrong impression of our country law, ok?
 

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