Could America default?
"The prospect of an American default seems incomprehensible no matter
how much debt the government issues. But is it really? Suppose a major
creditor nation posed a security risk and threatened to dump all its
American debt on the market. In that case default could happen despite
American solvency. That situation is improbable, but feasible. After
all, many politically inconvenient creditor nations hold substantial
American debt. And stranger things have happened." (Free Exchange)
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Economic Alert is a daily blog on business and the economy in the San Gabriel Valley and beyond, featuring updates and observations from the staff of the San Gabriel Valley Newspaper Group. SGVN includes the San Gabriel Valley Tribune, Pasadena Star-News and Whittier Daily News.
Your hosts:
Kevin Smith is business editor for the San Gabriel Valley Newspaper Group. Over the past 15 years, Smith has covered development, housing, employment, technology and financial trends for a variety of newspapers.
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Ryan Carter covers business and the economy for the San Gabriel Valley Newspaper Group.
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Your hosts:
Kevin Smith is business editor for the San Gabriel Valley Newspaper Group. Over the past 15 years, Smith has covered development, housing, employment, technology and financial trends for a variety of newspapers.
Ryan Carter covers business and the economy for the San Gabriel Valley Newspaper Group.
As long as we have a military, the strongest in the world I might add, we, as a nation will not ever have to worry about being defaulted...BUT! With the incoming administration the possibility of having our government hand us over to some other nation is a HUGE CONCERN BEING THE FACT THAT OBAMA IS NOT AN AMERICAN.I FEEL THAT AMERICANS HAVE BEEN SET UP BY OUR GOVERMENT TO TAKE A HUGE FALL OVER THE NEXT COUPLE OF YEARS. I SAY WE PLACE OUR MILITARY ACROSS OUR BOARDERS AND SHORES AND CLOSE OURSELVES DOWN UNTILL WE CAN GET BACK ON OUR FEET. CREATE JOBS IN AMERICA, GET BACK TO WHAT MAKES AMERICA STRONG; GOD, AMERICA, AND STANDING TOGETHER AS A NATION.....THEN WE'LL TAKE CARE OF ANYBODY ELSES PROBLEMS. WE HAVE LIBERATED MORE NATIONS IN THE PAST AND NEVER ASKED FPR REPAYMENT, I SAY WE CALL IN OUR LOANS AND SERVICE TO OTHER COUNTRIES AND EVEN THE PLAYING FIELD A LITTLE...WHY? BECAUSE WE CAN!
THE LIST OF COUNTRIES IS LONG AND THE BILLS FOR THEIR FREEDOMS ARE HIGH AND EXSPENCIVE! WE ALSO NEED TO STOP SUPPORTING OUR NEIBORS ECONOMIES BY EDUCATING, FEEDING, HOUSING, RETIERING, CLOTHING, AND POLICING THE MILLION OR SO MEXICANS AMERICA HAS ADOPTED. WHY SHOULD WE FEEL OBLIGATED TO DO THIS ANYMORE? BECAUSE IT'S POLITICLY CORRECT? READ MY LIPS...WE DON'T HAVE ANY MONEY, AND IF WE HAVE TO WE SHOULD USE THE NATIONAL GUARD TO FORCE THEM OUT AND NAIL THE BOARDERS UP SHUT FOR GOOD. NO INS OR OUTS FOR 10 YEARS UNTILL WE CAN COVER OUR LOSSES. But like I said...America is in for the fall with this stuffed suit in office. He has no claim to fame other than fooling Americans in to letting him win office, other than that he is a well spoken fool, hell bent on fame at our expense. Our children should hate us for the voter’s FOOLISHNESS AND gullibility.
Glen,
First off, remember ALL CAPS is rather irritating. Then take a deep breath. One last thing, we borrowed more from foreign countries under Bush and a Republican congress than we ever have. How that is Obama's fault is beyond me.