After watching the news about how america has to payback its debt to China on August 2 I got a little worried about how America would pay China back so I hopped on google and searched if America could pay China back on time and found out that it was mathematically impossible to payback the date on time. So I sat down and took a second to think what is going to happen after we cant payback. Will China invade America? Will our economy collapse? Will the world end as we know it? Please comment and tell me what you think will happen after the deadline to payback.
http://www.washingtontimes.com/news/2011/jul/26/wiggle-room-seen-on-aug-2-debt-deadline/ It says that mathematically we have enough money till August 10th then we are screwed :/
its currency will no longer be the global standard.
China is looking into a global currency system. The Canadian dollar is now worth more than the US dollar (for every USD you trade into Canada if you go on vacation, they'll give you about $0.96 CAD). There needs to be a new standard.
The Canadian dollar is now worth more than the US dollar
So what? Does that mean the Canadian dollar is a better standard? Does that reflect a drop in the usefulness or worth of the US dollar, besides as relative to the Canadian dollar?
So what? Does that mean the Canadian dollar is a better standard? Does that reflect a drop in the usefulness or worth of the US dollar, besides as relative to the Canadian dollar?
Wikisays that it was caused both by an increase in Canada's economy and a decrease in the USD value compared to global markets.
Yes, but by only judging the value of the currency, you don't get much out of it. By that respect, we should all buy Kuwaiti Dinars. Those things pack weight. Or, the US could just put less money into circulation, giving more market value per dollar.
Or, the US could just put less money into circulation, giving more market value per dollar.
It doesn't quite work that way. But my family saw America's economical situation before it got really bad so we moved to Brazil. It's less "stressful" here.
It doesn't quite work that way. But my family saw America's economical situation before it got really bad so we moved to Brazil. It's less "stressful" here.
Brazil is probably going to go into some hyper-inflation soon with all the money being printed to build roads and stadiums for the Olypmics and the World Cup.
we wont be able to pay it off so we'll end up going to war with China.
Exactly what will happen. China will attack the ones who owe them money probably losing more than the debt is even worth.
Brazil is probably going to go into some hyper-inflation soon with all the money being printed to build roads and stadiums for the Olypmics and the World Cup.
brazil is 1 if the fastest growing economics on earth atm. they can pay it. it's not fake money.
my family saw America's economical situation before it got really bad so we moved to Brazil.
from where i'm from evry1 was already aware of this going to happen when bush was in after 4 year.
