How would a U.S. default affect the average citizen?
- Thread starter scotta65
- Start date
Would bankrupt nearly all of us.
As America can print money to "theoretically avoid technical default", the US will never have a true default. However, hyperinflation/currency debasement to avoid true default would have the same consequence.
Global reset. All assets up for grabs again. So, since the average citizen is now unemployed or working minimum wage with no personal assets and some private debt, it would probably be a great thing for them. They might actually have a chance to buy a house or some stocks that are totally out of reach right now.
Sheeple don't realize this and think the current system is helping them.
Granted, you're going to have a very rocky 1 or 2 year period of pain, but I don't think it would drag on much longer than that.
If you're 65 or older it would be very negative though. Always winners and losers.
1) U.S. has already defaulted.
2) Inflation is going to strike. When and how high, that's the question.
2) Inflation is going to strike. When and how high, that's the question.
<iframe title="MRC TV video player" width="640" height="360" src="http://www.mrctv.org/embed/123205" frameborder="0" allowfullscreen></iframe>
http://newsbusters.org/blogs/paul-b...brera-schools-morning-joe-panel-potential-gov
http://newsbusters.org/blogs/paul-b...brera-schools-morning-joe-panel-potential-gov
she didn't go with the Leftist psyop and hurrah for her!
Not true.
In a genuine default....
The poor will still be poor
What's left of the middle class will become poor
The sort-of-rich will become poor
The truly rich may survive as slightly rich
Bernanke should be incarcerated for doing the american people a disservice for the sake of those that placed him in power.