I think they can go rot in the poison of their own excesses. Let them play russian roulette with their own economic well being. Will it impact us one way or the other? I don't think the reserve bank is sitting with any t-bills. Our fortunes are pegged on China and the African growth story.
they have too....but i agree with skaaptjop,something must be done against these okes....they are pathetic!!! china is not happy about the whole thing and they hold alot of t-bills....they are holding the whole world at randsome.
The whole world is except the man on the street in UsA...also they have budget approvals that they have to decide on..all Im saying is if they don't get direction soon,the markets are going to sell off hard! the 2 is around the corner.
Don't sweat it - The debt ceiling will be raised. The US government is not going to grind to a halt. There is a election next year remember. Neither the Democrats or the Republicans can afford too much negative publicity. They're just playing musical chairs at the moment.
They will absolutely, definitely raise it. The 2 Aug date is fairly hard but isn't as hard as they say. They could still survive without defaulting if they raise it a few days or even a week or two later, but they'll have to use increasingly funky tricks to do so. It just gets rougher after that, because the market will freak out.
This isn't about the debt ceiling, it's only about how each side can use it as a scare tactic to get their own way. The odds are the Democrats will blink. Again. But let me tell you - if the debt ceiling isn't raised, the bankers will raise absolute hell with the Republicans. There is no risk of it not passing.
US will raise the dept ceiling this time but be care full for next time or there after. They will in any case lose there Credit rating if they raise it or not. America can never repay there debt. The only way they can repay it is a serious war or the dollar currency must de- evaluated against the other currencies big time. I believe this will happen after the next election. What will happen if the soldiers came back with the unemployment in the USA - America is screwed , they just bet for a soft landing and this is why they tell all about the problem.