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Well... I guess the worse thing that could happen is...

posted 8/1/2011 5:25:23 PM |
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  somnium

THE ENTIRE PLANET COULD FILE BANKRUPTCY!! THEN... would that finally be the end of all the bad economic bull $hit we keep hearing about 24/7, on the news medias???

Only question is.. would Earth's bankruptcy affect our standing, with the rest of the planets in our galaxy's federation???

Cash-strapped RI city files for bankruptcy:

CENTRAL FALLS, R.I. BANKRUPTCY


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Comments:

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Strega

Aug 1 @ 6:09PM  
The world might need to go back to the barter system. I have been doing that for years and it helps stretch the budget.
Wordsofwit

Aug 1 @ 9:55PM  
For municipalities and counties this will get more and more commonplace. It makes one wonder how many of these smaller governmental entities went into default during the Great Depression.

If people in Washington don't start getting more pragmatic and less dogmatic, the feeble recovery is going to come undone. And, this time it will not be calamity like it was two to four years ago, it will be chaos on a scale beyond our comprehension
sugarnspice005

Aug 2 @ 10:39AM  
Sounds like a plan. The entire planet declares bankruptcy and everyone starts from scratch with a clean slate.

I like the barter idea too!
RevDocLove

Aug 2 @ 11:21AM  
I got nuttin' to trade
Wordsofwit

Aug 2 @ 3:23PM  
I am not too far into the details but I believe that Iceland went into default a couple of years ago and Greece is having to enact radical austere measures plus have a bail out from Europe to stay afloat.

I believe it was Leno that told this joke and it went something like this: I went to a Chinese restaurant and the fortune in the fortune cookie said, "Your government is delinquent on its payment."

Do you realize that if the economy in the US goes into the tank that hundreds of millions of children in China will be unemployed (that's my joke, well joke attempt )
StraddleMyNose

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Aug 2 @ 11:55PM  
I don't know every detail other than what I have heard about it. I would like to have seen more cuts in spending over the next 10 years for one.
Wordsofwit

Aug 3 @ 12:10AM  
I don't know every detail other than what I have heard about it. I would like to have seen more cuts in spending over the next 10 years for one.

The crux as far as takeaways that I got was that it was an interim plan and that there will be a "super committee" comprised of six members of congress and six senators, three of each from both parties, that are supposed to come up with something more definitive by Thanksgiving.
PeachyKeen

Aug 3 @ 1:12PM  
Cuts in the federal budget are necessary, however, the government also needs to create REVENUE. Congress doesn't seem to comprehend the basic fundamentals of Business 101... gotta make a profit and have ability to pay debts. Without revenue how do think we can do that? I'm dumbfounded by the lack of this understanding.

A balanced budget is appealing and worth working seriously toward as a major national goal. However, it should not be tied to a specific timeline or the GDP because no one can accurately project what our situation will be one or ten years down the pike. It's a guess that turns into an enormous gamble we can ill afford.

This 'compromise' to avoid default is a joke... they haven't learned anything nor are they listening to their constituents other than the ones who twist and sensationalize info that is patently false. We can't let others tell us what to think... we have to find the facts as best we can and avoid the emotional tirade that makes people revolt for the wrong reasons... just look at what happened during the French Revolution.

If people refuse to vote and continue to accept the lies we are fed via the media, chaos will reign supreme. The hard times are just beginning and there's no end of it in sight as we blindly follow the pied pipers in Washington. We'll be living the life of a feudal system before you know it.

Welcome to the new Dark Ages, folks.

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Well... I guess the worse thing that could happen is...