What would happen if a country? goes bankrupt?

[Silicate Wielder]

I saw the post about Obama bakrupting america and that got me thinking, what would happen if the U.S go bankrupt??

I think the U.S would probably get bought out by a foreign country. what do you guys think?

[PinkFloyd]

I think that we would go and cry to Europe for help..

[Taryn98]

Watch what is happening to Greece right now. That's exactly what happens. The problem is that America's debt exceeds the GDP of so many countries combined that if we needed to get bailed out, it would require all of Europe plus China and Japan at a minimum to do.
The alternative would be for the FED to just start printing money to pay our bills which would cause inflation so high that most American's would fall into poverty. But the government could still pay the bills that way.
Basically it would cripple the world economy for years.

[anyone50]

I think that we would go and cry to Europe for help..

I'm not sure what help it would be to cry to Europe since their economy isn't as strong as ours at the present. Maybe if we stopped sending billions in foreign aid to them as well as other countries we might improve our economic situation. When was the last time you ever heard a report in the news of other Countries sending us aid after disasters like the Katrina and Sandy Hurricanes

[Castle of Glass]

I'm not sure what help it would be to cry to Europe since their economy isn't as strong as ours at the present. Maybe if we stopped sending billions in foreign aid to them as well as other countries we might improve our economic situation. When was the last time you ever heard a report in the news of other Countries sending us aid after disasters like the Katrina and Sandy Hurricanes

well, the thing is, Europe isn't a country, so you can't say that the "European Economy". It just depends on the country, like Greece is in the Gutter, but Nordic countries are doing fine. Also, European countries do help out during national disasters, no matter where it is. the reason you don't hear about it is because they don't make reports about it

[Magical]

What would happen? America would say 'Stuff you, debt.' and ignore all their debt.

[Human]

What would happen? America would say 'Stuff you, debt.' and ignore all their debt.

And then China would go 'stuff you, america' and get annoyed

[Zenos]

Wait wait people,the economies of the nations are pertty interlinked ,look what happend when a nation the size of Greece goes into major debt at who the economies of other nations react.

If one nation whats to actually go totally bankrupt,the economies of the nations of the world would unravel,governments would topple or at least be unable to operate,and the world would end up in a man made apocalypse!

[Magical]

And then China would go 'stuff you, america' and get annoyed

America has the larger millitary. They would be crippled from lack of trade, but...

[Maverick]

Watch what is happening to Greece right now. That's exactly what happens. The problem is that America's debt exceeds the GDP of so many countries combined that if we needed to get bailed out, it would require all of Europe plus China and Japan at a minimum to do.
The alternative would be for the FED to just start printing money to pay our bills which would cause inflation so high that most American's would fall into poverty. But the government could still pay the bills that way.
Basically it would cripple the world economy for years.
This. In theory we could never go bankrupt because we can print our own money to meet our obligations but like she said it comes at a high price of inflation. If we started printing money even more than we already do the value of the dollar would eventually become worthless.

It would be better in the long run if the USA did go bankrupt and default on the debt. Its time to come to realize that the debt is so high we can never pay it back anyway. However, Congress is never going to admit its bankrupt and default on the debt... that is why they keep raising the debt ceiling. When foreign countries stop loaning us money the Fed will just print up the difference.

[Zenos]

This. In theory we could never go bankrupt because we can print our own money to meet our obligations but like she said it comes at a high price of inflation. If we started printing money even more than we already do the value of the dollar would eventually become worthless.

( the thing is the US was taken of the Gold standard in the 70's and has nothing to back it up.So we are basically printing fiat currency,which is why our money si constantly going down.Germany did the same thing back in the depression)


It would be better in the long run if the USA did go bankrupt and default on the debt. Its time to come to realize that the debt is so high we can never pay it back anyway. However, Congress is never going to admit its bankrupt and default on the debt... that is why they keep raising the debt ceiling. When foreign countries stop loaning us money the Fed will just print up the difference.


Ok then what happens to America,not to meantion the other nations?

[Anonimi]

I'm not sure what help it would be to cry to Europe since their economy isn't as strong as ours at the present. Maybe if we stopped sending billions in foreign aid to them as well as other countries we might improve our economic situation. When was the last time you ever heard a report in the news of other Countries sending us aid after disasters like the Katrina and Sandy Hurricanes

aid to europe, seriously?
as of this moment, maybe our economy isn't very stable but America looks to me like its on a thin piece of ice... one jump and you fall.
the only problems we have are in greece and 3 or 4 other countries, and you guys can handle a hurricane i would think, why would we need to send help?
but seriously the US has such a big debt, i doubt its economy is better than Europe

America has the larger millitary. They would be crippled from lack of trade, but...

seems like a good plan, oh we are almost bankrupt, lets start a war!



[Double posts merged. Please use the edit button instead. -StoppingTime]

[Zenos]

seems like a good plan, oh we are almost bankrupt, lets start a war!

Question:

How many humans do you know that act logically?

I mean we are not Vulcans!:D

[ackmedsgirl666]

well i dont live in the states i live in canada and we are a very wealthy country
if we went bankrupt idk what i would do.... :(
it would be terrible for me.. which means i wouldnt have free healthcare... and most of the things i have now... canada would become a very sickly country.... there would be more war.. violence... you name it.

[Zenos]

well i dont live in the states i live in canada and we are a very wealthy country
if we went bankrupt idk what i would do.... :(
it would be terrible for me.. which means i wouldnt have free healthcare... and most of the things i have now... canada would become a very sickly country.... there would be more war.. violence... you name it.

Yeh that would be bad,but think of how much wors eit would get in Third world nations as well.

Becuse when one nation goes bankrupt the world market will is going to feel it and it could cause global bankruptcy!

[PinkFloyd]

I'm not sure what help it would be to cry to Europe since their economy isn't as strong as ours at the present. Maybe if we stopped sending billions in foreign aid to them as well as other countries we might improve our economic situation. When was the last time you ever heard a report in the news of other Countries sending us aid after disasters like the Katrina and Sandy Hurricanes

Yeah, I see what you're saying.

[Zenos]

Quote:
Originally Posted by anyone50
I'm not sure what help it would be to cry to Europe since their economy isn't as strong as ours at the present. Maybe if we stopped sending billions in foreign aid to them as well as other countries we might improve our economic situation. When was the last time you ever heard a report in the news of other Countries sending us aid after disasters like the Katrina and Sandy Hurricanes


Yeah, I see what you're saying.


Actually nations did send us aid after Katrina.

Overall, the United States declined 54 of 77 recorded aid offers from three of its staunchest allies: Canada, Britain and Israel, according to a 40-page State Department table of the offers that had been received as of January 2006.

Baisically we tirned down many allies' offers of manpower, supplies and expertise worth untold millions of dollars.


also:

http://en.wikipedia.org/wiki/International_response_to_Hurricane_Katrina


as to sandy:

http://www.dailynewsupdate.org/post/what-aid-was-donated-from-foreign-countries-for-hurricane-sandy.html

according to that Iran is the only nation that sent aid

[Human]

America has the larger millitary. They would be crippled from lack of trade, but...

Typical, thinking everything can be solved with violence

[InfinantSilence]

Just look at Greece. You'll get your answer.

[Zenos]

Watch what is happening to Greece right now. That's exactly what happens. The problem is that America's debt exceeds the GDP of so many countries combined that if we needed to get bailed out, it would require all of Europe plus China and Japan at a minimum to do.
The alternative would be for the FED to just start printing money to pay our bills which would cause inflation so high that most American's would fall into poverty. But the government could still pay the bills that way.
Basically it would cripple the world economy for years.



Actually just printing money to through at the problem would not help ,we've basically been doing that ever since the 70's when we where took off the godl standard.
Look at Germany during the Great Depression they tried that and what happened?

Their money was so worthless that people ended up using it in fireplaces to stay warm.

So no just printing tons of cash to pay bills will not work.

[Taryn98]

Actually just printing money to through at the problem would not help ,we've basically been doing that ever since the 70's when we where took off the godl standard.
Look at Germany during the Great Depression they tried that and what happened?

Their money was so worthless that people ended up using it in fireplaces to stay warm.

So no just printing tons of cash to pay bills will not work.

That's why I said printing money causes inflation which hurts the economy. Nevertheless, the government has the authority to print it to pay bills even if it hurts the average American.

[Zenos]

That's why I said printing money causes inflation which hurts the economy. Nevertheless, the government has the authority to print it to pay bills even if it hurts the average American.

I'm sorry I had misread what you said
At this late date any nation that would take our cash for our depts must be run by nutters.

[Magical]

Typical, thinking everything can be solved with violence

Erhm. I'm just going to assume that you're talking about me speaking from America's point of view, and leave it at that.

[Zenos]

Erhm. I'm just going to assume that you're talking about me speaking from America's point of view, and leave it at that.



I've figured this out when it comes to our nation it's better to Not even bother talking about it with Non-Americans because some of them (NOT ALL) act like they are right about America and we are wrong.

Then theres the fricking Fifth Column types here in the USA that will side with them:rolleyes:

[Magical]

I've figured this out when it comes to our nation it's better to Not even bother talking about it with Non-Americans because some of them (NOT ALL) act like they are right about America and we are wrong.

Then theres the fricking Fifth Column types here in the USA that will side with them:rolleyes:

I'm...not American. I dislike America, in fact. Violent. So....erhm. Eep. This seems....unfortunate.

[Zenos]

I'm...not American. I dislike America, in fact. Violent. So....erhm. Eep. This seems....unfortunate.

Welll good for you,just go on disliking,but rememeber this it all comes back on you eventually!

thats why i don't dislike people based on nationality! Cause thats just silly!

[Magical]

Welll good for you,just go on disliking,but rememeber this it all comes back on you eventually!

thats why i don't dislike people based on nationality! Cause thats just silly!

I don't dislike the people.....I dislike the huge amount of deadly weaponry America possesses. I dislike the Republican party, although they are hilarious. It's absolutely ridiculous.

[Wrestler0821]

The government is who allows others to declare bankruptcy. No sure who would allow the one who declares bankruptcy to declare bankruptcy

[Zenos]

I don't dislike the people.....I dislike the huge amount of deadly weaponry America possesses. I dislike the Republican party, although they are hilarious. It's absolutely ridiculous.


Well if you notice the more land held by a nation the bigger and more powerful their military must be in order to protect their territory.

For example take my nation,it's a large nation thats mainland spans a Continent from coast to coast,and a great distance between it's nothern and southren boarders.

Now if it's military as about as large and powerful as say that of Cuba,about how long to you think it would be before we where invaded by the armies of foreign nations and our military would either just outright be over run?

Yes i will admidt it would be nice if we where not tryingto bring freedom to people at the barrel of a gun.

But with the size of the landmass we have to guard that we call ours there's a reason we have so much weaponry and such a large military.

A military with the size and power of that of Cuba could not successfully defend a land mass as large as what the US covers.

[Lil Red]

Essentially america is already bankrupt, they just haven't declared bankruptcy.... As a result if the current administration is able to get and keep spending to a minimum future generations will be forced to pay higher taxes in order to pay off the current America debt

[chrisawesome]

1. The government would start to print more currency. Then, we will create even greater inflation and we can encounter problems with currency to foreign countries.

2. Unless you havent noticed, we are already bankrupt. Bankrupt=something or someone who has no money. They have stuff they are expected to pay for, but they are out of money.

3. We will just keep taxing rich people and give to the have-nots

4. We will get greedy on taxing rich and take control of their business and begin a communist government.


5. Our allies will turn on us and we will go into war without any support

6. Then, that will be the end of the United States of America as we know it.

One thing I've learned is that History Always Repeats Itself

[Jonathan1998]

The US is going Bankrupt, the government won't admit it, similar things are happening in the UK as well, and other countries around the world are on sheets of thin ice too but but UK and USA governments may not admit due to fear of possible take over and purchase of government and country by a wealthier country. I know this 'cause I'm from the UK and our Government and Prime Ministers are driving the people to flipping poverty and economic downfall.

[brandon1995]

Right wing B.S.

[NORTH.KN16HT]

We all ready are.... Hence the debt

[Twilly F. Sniper]

We really aren't. There is 14 trillion dollars in the treasury. The world's governments are starting to unravel THEMSELVES.
If the governments used their own money wisely most of the worlds economies wouldn't be struggling. The only economy that's really prospering is China. Point is, it's the faults of our officials.

[Outside The Box]

Well if you control the worlds reserve currency like the U.S. does, and you keep the ponzi scheme going, (at the expense of everyone else who uses dollars) nothing really happens.

We were bankrupt a long time ago.
http://www.bloomberg.com/news/2010-08-11/u-s-is-bankrupt-and-we-don-t-even-know-commentary-by-laurence-kotlikoff.html

[azorne]

Ok then what happens to America,not to meantion the other nations?

Same thing that happened to Germany in 1928.

[ItsJustJack]

America has the larger millitary. They would be crippled from lack of trade, but...

I'm sorry to Say but your wrong because China has the larger military and they are also better trained due to their communist regime. This is only my opinion and I still love America!!!

[ItsJustJack]

America has the larger millitary. They would be crippled from lack of trade, but...

I'm sorry to Say but your wrong because China has the larger military and they are also better trained due to their communist regime. This is only what I have been taught and I still love America!!!

[Abigballofdust]

Well, if we take for granted a country in problems has a huge external debt, that means going bankrupt ends up in many institutions wanting their money back.
Long story short, your country gets a new agenda, cuts are imposed on the public sector, taxes go up and you start a long period of imposed savings. In other words, you get in a recession, your real sector falls because all the money that gets saved from the cuts on the public sector gets sent to institutions your country owes money to instead of sending it to production, unemployment raises and politicians keep on stripping you until the majority is hungry. Then heads start to roll.