US default

Howlin

I am wanting to know when the US defaults on its nation debt (fully or only some of it) what could happen to the EU and the Irish economies?
Also do you think that Greece would default along with Ireland, Portugal, and Spain on their debt?

red menace

It will speed up the process of Canada US and Mexico adopting a joint currency. "The Amero"

Turtyturd

Howlin wrote: »

I am wanting to know when the US defaults on its nation debt (fully or only some of it) what could happen to the EU and the Irish economies?
Also do you think that Greece would default along with Ireland, Portugal, and Spain on their debt?

I am wanting to let you know you have come to the right place....default, the two best words in the English language.

Cocaine

If the US default, get into hiding quick boy, because China is going to take over with an iron fist.
It might not be a bad thing.

Duffy the Vampire Slayer

Turtyturd wrote: »

I am wanting to let you know you have come to the right place....default, the two best words in the English language.

Until this recession started, that was the only time I had heard the word default.

Pauleta

They wont default. They will go into as much debt as they like and other countries will suffer.

cosmicfart

The US will just kill US all, YES THEY CAN!

Mardy Bum

The US has been running large current account deficits for a number of
years.
The deficit has closed a bit recently as imports fell during the recession. But
it seems likely to take off again and many wonder about its sustainability.
One reason it is more sustainable than many think is that the “net interest
rate” on its debt is very low.
In fact, even though the US has very large net debts to the rest of the world,
it earns more on its foreign assets than it pays out on its debts.
This is because the debts are mainly low yielding bonds while the assets
include a lot of stocks and foreign direct investment.
So, as of now, the burden of being “the world’s biggest debtor” is not so big.

Source:
http://www.karlwhelan.com/Teaching/International%20Monetary/part17.pdf

If you read up some of the lectures a lot will be gained.

The Left Hand Of God

Mardy Bum wrote: »

The US has been running large current account deficits for a number of
years.
The deficit has closed a bit recently as imports fell during the recession. But
it seems likely to take off again and many wonder about its sustainability.
One reason it is more sustainable than many think is that the “net interest
rate” on its debt is very low.
In fact, even though the US has very large net debts to the rest of the world,
it earns more on its foreign assets than it pays out on its debts.
This is because the debts are mainly low yielding bonds while the assets
include a lot of stocks and foreign direct investment.
So, as of now, the burden of being “the world’s biggest debtor” is not so big.

Source:
http://www.karlwhelan.com/Teaching/International%20Monetary/part17.pdf

If you read up some of the lectures a lot will be gained.

Being able to print money willy nilly has helped them a lot too.