What price an American default?

[Oldpinkman]

Long odds, but I'm definitely opening a book

[Andrew]

Long odds indeed, but there are enough "crazies" in the Republican Party to make it a possibility.

[Dr Bunsen Honeydew]

Well when a kid I went to the chimps tea party at the London Zoo. There was more intelligence around that table than the current "tea party" that is causing this f'ck up.

[Andrew]

It's almost inconceivable that representatives of the American people would sabotage their own country (and the rest of us) in order to destabilise a Democrat President, but the key word here is "almost". I am certain that some of these lunatics would do it if allowed to.

I've seen it referred to as "burning down the house in order to roast the pig", which is very apt. The thing is, the fire won't be limited to their house. They will roast us all if they aren't checked.

[Dr Bunsen Honeydew]

They remind me of the lunatics that were behind the election of Ronald Regan. In those days they were called the Religious Right. Some of their senior "preachers" were trying to convince Regan to start a nuclear war against Russia and the "Satan" that was communism as Jesus wouldn't allow his followers to be killed and only sinners would die. Nutters like that are more dangerous than this lot, but the USA seems to have a habit of breeding them

[Daniel Quinn]

As Obama is clearly a subjectivist , he probably reads h/s . So barrack here's what you do .

get on the phone to the Chinese and ask them to demand all their money back immediately if you default [ do it covertly, you know a thing or two about that ] Once announced the markets will go down in anticipation of going in to freefall in the event of default , the T party nutters will then have no choice but to allow the new budget/borrowing .

[Dr Bunsen Honeydew]

I have a better idea - poison their tea

[Oldpinkman]

Problem is Daniel the chinese have only lent a few bob. Most of it is the fed, and if they lose money and need more they just turn on the laser printer. . Anyway the chinese capitalists only lend to uncle sam so he can buy their consumer goods to sustain their 8% growth

[Daniel Quinn]

The chinese have 1.6 trillion of investment in usa , pulling due to economic uncertainty would do the trick .

[Oldpinkman]

And who would buy Chinese production if they pull the plug on the USA? What would happen to the Chinese economy then? And last I checked China own $1.2 trillion, just ahead of Japan on $1.1 trillion. The Fed have around $2.3 trillion