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What would reepbot say?

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reepbot said:
Dance off.
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When I watch the corporate soccer lunchtime league, fisticuffs often ensue and I wonder why it's the done thing to break up fights. If someone was being unfairly kicked in the head, it makes sense, but when it's two people posturing and bouncing inflated chests, it's part of the spectacle. The most important part. There are websites for weather information, no discussion necessary.
 
Witty Banter said:
When I watch the corporate soccer lunchtime league, fisticuffs often ensue and I wonder why it's the done thing to break up fights. If someone was being unfairly kicked in the head, it makes sense, but when it's two people posturing and bouncing inflated chests, it's part of the spectacle. The most important part. There are websites for weather information, no discussion necessary.
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I like arguing more when i am passionate about something.
 
reepbot said:
That is bad....but no.
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It is actually extremely interesting. Quite a few years ago, it would have taken the US 60 consecutive years of balanced budgets and record boom repayments to pay off their debt, so never going to happen....and the situation is far worse now. You can actually see Clinton's boom years of paying off debt, W's spending...and Obama's crazy spending now on a graph. It's up to $18.8 trill now. It's entirely realistic that the US will default in our lifetime.

images
 
Witty Banter said:
It is actually extremely interesting. Quite a few years ago, it would have taken the US 60 consecutive years of balanced budgets and record boom repayments to pay off their debt, so never going to happen....and the situation is far worse now. You can actually see Clinton's boom years of paying off debt, W's spending...and Obama's crazy spending now on a graph. It's up to $18.8 trill now. It's entirely realistic that the US will default in our lifetime.

images
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What will happen when they default?
 
reepbot said:
What will happen when they default?
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China and other countries will pull $4 trillion out of US government bonds and remove the US currency as world reserve currency. There has actually already been vast 'gold repatriation' to Europe from countries nervous about keeping it in the usual US. To predict exactly what happens might be henny penny, but keep an eye out for China's proportion of US debt and moves to repeg debt to oil or other non US denomination. You would not want to be the last country to be holding US bonds in $US.
 
Witty Banter said:
China and other countries will pull $4 trillion out of US government bonds and remove the US currency as world reserve currency. There has actually already been vast 'gold repatriation' to Europe from countries nervous about keeping it in the usual US. To predict exactly what happens might be henny penny, but keep an eye out for China's proportion of US debt and moves to repeg debt to oil or other non US denomination. You would not want to be the last country to be holding US bonds in $US.
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No, you would not.
 
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