Some one explain why the USA doesn't just except the fact their Bankrupt!

**liberty** · Mar 1, 2013, 08:35

Western nations are full of people who believe that it is the government's duty to hand out free stuff to anyone who demands it, without any regard as to how the bill will be paid. They regularly vote in politicians who are committed to keeping this system going....until it collapses. Canada would be in much the same boat if it weren't for oil revenues.

Bankruptcy or inflation are the two main ways out of this mess....I think the U.S. and Europe will choose the inflation route.

**cottonpicken** · Mar 1, 2013, 08:36

Lol,just imagine the consequences.

All the people who get checks from the
government,military,police,fire fighters,teachers,food
stamps and welfare,old age security,medicare.

It would be like the greek riots exept the protesters
are armed to the teeth.

**errolanderson** · Mar 1, 2013, 09:05

These countries are trying to inflate, but
it's not working . . . QE3 is a bust (IMO)

This is now stressing the U.S. Fed board
of governors. They ate an elephant and may
be starting to regret it.

Japan is now in a full-fledge battle with
deflation right now.

**grrrr** · Mar 1, 2013, 09:11

SF3- Did you mean to say,"Someone explain why the USA doesn't accept the fact they're bankrupt." Off topic but I get my 11 year old to correct your grammar and spelling on a regular basis as part of her homework.

**bucket** · Mar 1, 2013, 09:22

grrr

That is funny. I always wonder how a guy with so much seems so illiterate.

No offense meant SF3, but your grammar is the shits. Just the facts, man!!

**ajl** · Mar 1, 2013, 10:10

The US is not as bankrupt as Europe and Japan are which is why
they are not crashing right now. The other thing the US has is
a lot of oil. They can service debt the same way we do: with
oil revenue. This is why the so called sequester is a good
thing if it happens: spending gets cut and the Americans buy
less imports.

**cottonpicken** · Mar 1, 2013, 10:23

The us government is 40% of the economy,real
inflation is around 6%,real unemployment is 25%,50%
of people are net benefactors.

Todays austerity measures are a drop in the bucket
for what needs to be done,i thought there might be
some fireworks in todays markets,not yet.

**cottonpicken** · Mar 1, 2013, 10:38

http://www.bloomberg.com/video/i-m-frustrated-with-washington-druckenmiller-QMJEQ2ksQEmdbi45BW7kfg.html

**TOM4CWB** · Mar 1, 2013, 11:08

CP... This does not start to have any great impact for a
month.... I heard that in many cases Gov service
providers won't get as much of an increase... but will
still get as much money as last year.

I think we are being snowed here... there will be delays
in services... more because of turf protection ...than a
real problem.

Some one explain why the USA doesn't just except the fact their Bankrupt!