OK, so we are going to default -- there's no way around this budget impasse

[melody]

What happens from there to the economy? What can we do to semi-protect ourselves.

Anyone have any guesses?

Seriously, anyone? I have a vacation planned for next week. I'm thinking we should cancel in case.

[hedgehog]

1. Gas up the car? Shop for groceries early in the week?

I know what to do when there's a big snow storm coming, but not what to do now!

[melody]

2. Yes, well, I've got that covered.

It's the big picture that concerns me.

[Ghost Dog]

10. See the big picture thus...

and expect 'volatility' in USA shortly?

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[mbperrin]

3. No one's going to default. The bankers who own the country and collect the interest won't allow it.

Even if we did, and no one would loan us a dime, the Fed can simply create the money to pay the bills.

But that's way out.

We never have and are not about to default. It's just kabuki.

[melody]

4. Printing money isn't a pretty option either

How long until that wrecks havoc?

I do appreciate your input.

[mbperrin]

5. Well, the Fed has been printing more than 80 billion a month for several years now.

That's why interest rates on savings are close to zero.

Other than that, seems to be little effect.

Thank YOU for posting!

[abelenkpe]

6. Enjoy your vacation!

They won't default. And if they did, and chaos erupted wouldn't you rather have had one last vacation?

Seriously, don't worry. Don't worry about printing either.

[melody]

7. Thanks!

I appreciate the info. We're headed to Santa Cruz, so it'll be cool either way. lol

[Deep13]

8. The best way for the country to protect itself...

...is to tell the creditors to go fuck themselves. Austerity or tax hikes to repay public debt, or to pay interest on it, is a transfer of wealth from the productive lower and middle classes to the parasitic capitalist class. My advice to all debtor countries is not to pay their debts. That will instantly make a lot more cash available for things that will actually help people and improve the economy.

[melody]

9. That's the problem with blue sky scenarios

Our lord and masters won't accept all the pain themselves. They will force the "eaters" to pay.