tag:blogger.com,1999:blog-3434495502175776916.post4561645494741345834..comments2023-04-06T02:43:43.759-07:00Comments on Bitching my way to the Brightside: I Shimmer on HorizonsCrankyOtterhttp://www.blogger.com/profile/02863609824154763580noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-3434495502175776916.post-30103384777366916412011-08-11T05:18:44.798-07:002011-08-11T05:18:44.798-07:00If you default you can no longer borrow on the ope...If you default you can no longer borrow on the open market to sustained your economy.<br /><br />Argentina is doing this.<br /><br />Canada from what I understand did this in the 70's and we lost our AAA rating in the early 90's and got it back in the early 2000's.<br /><br />Then countries and businesses won't trade with you b/c they are uncertain if they are going to be paid. Many Cdn companies have contracts with the US gov't and if you hadn't upped the debt ceiling they would not have been paid.<br /><br />Plus, sooner or later those monies have to be paid. Which is why they are now worried about France b/c it's given too much to hold the rest of the EU together - I think it's Spain in particular - and now they are looking at a cash shortage.<br /><br />Part I find scary is the general populations view of debt. They just don't care.farmwifetwohttps://www.blogger.com/profile/02680758336779501712noreply@blogger.com