US Warns of ‘Catastrophic’ Effect If It Defaults

Yep, collapse is immenent simply based on historical precedents as well as the obvious issues with the economy

Lisa's leaks - 'Madness in the Magnolias'

Dollar

The U.S. Treasury is warning there could be “catastrophic” economic effects worldwide if Congress does not increase the country’s borrowing limit in the coming days so the United States does not default on its financial obligations.

As the U.S. approaches its current $16.7 trillion debt ceiling, the Treasury issued a report Thursday outlining the calamity it says could occur if it runs out of money to pay the country’s bills, including interest on money the U.S. has borrowed overseas.

“A default would be unprecedented,” Treasury said, “and has the potential to be catastrophic: credit markets could freeze, the value of the dollar could plummet, U.S. interest rates could skyrocket, the negative spillovers could reverberate around the world, and there might be a financial crisis and recession that could echo the events of 2008 or worse.”

The country’s government is already in the third day of a partial shutdown in…

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About Jesse Mathewson

Jesse Mathewson is the author of the popular blog, jessetalksback.com and provides commentary to many varied places based on a background that includes education in criminal justice, history, religion and even insurgency tactics and tactical training. His current role in his community is as an organizer of sorts and a preacher of community solidarity and agorism. He also runs Liberty Practical Training, a self defense school specializing in the practical applications of defensive approaches versus the theoretical. As an agorist, voluntaryist and atheist his life is seen as crazy and wild by many, though once they get to know him most realize he is a bluntly honest individual who will give you the shirt off his back if he believes it is necessary to help you. Very simple, "That which is voluntary between all individuals involved is always right, if it is not voluntary, it is always wrong."
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One Response to US Warns of ‘Catastrophic’ Effect If It Defaults

  1. cavpatriot says:

    yep

    Like

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