US could default on debt as soon as July
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The federal government could default on its debt as soon as July, a new forecast from the Bipartisan Policy Center warns, raising pressure on Congress for action.
The prominent think tank forecast Monday that the so-called “X-Date” would likely arrive between mid-July and early October.
We all agree to swap to the metric system after the collapse, right?
So long as we can also codify democracy, outlaw first past the post voting, limit wealth accumulation, make facist conservatism illegal, and, for good measure, move to a parliamentary form of government with representative apportionment.
Wow. You are so close. Can you say "soory" and learn to ride a m∅∅se? Say 'progress' like 'protest'?
Can we at least keep smoots?
I mean, how else are we supposed to measure bridges?
It just makes sense
Instructions perfectly clear.
Adopts metric clock and calendar only
Trump is doing great at lowering those egg prices...
I mean when we all have to become chicken farmers to eat, yeah eggs will be dirt cheap.
We need to stop invoking this mantra. Joe didn't really do much to make egg prices go up [or down] and Trump clearly isn't trying on that front either. If/when they do come down you'll just vindicate the other side. I actually have seen lower prices at my local grocery. 2022 prices? IDK, but definitely lower than a couple weeks ago.
Joe didn’t really do much to make egg prices go up [or down] and Trump clearly isn’t trying on that front either.
To the best of my knowledge Joe never made claims either way on egg prices. trump campaigned on lowering egg prices.
Speaking next to a table of packaged goods during an August press conference, Trump promised, should he be re-elected, to lower grocery prices on “day one.”
“Grocery prices have skyrocketed. Cereals are up 26 percent, bread is up 24 percent, butter is up 37 percent, baby formula is up 30 percent, flour is up 38 percent, and eggs are up 46 percent,” he said. “When I win, I will immediately bring prices down, starting on day one.”
So egg prices continue to rise and what is trump's response to the American people after getting elected? "Shut up about egg prices".
"The new numbers come days after Trump posted a link to an article with the headline “Shut Up About Egg Prices ― Trump Is Saving Consumers Millions,” written by right-wing activist Charlie Kirk, on Truth Social. "
The problem is that he lied to people to gain votes about handling. We absolutely DO NOT need to stop invoking it whatsoever. Every lie he told should be constantly spouted back at him and his cronies.
Trump ran on the promise of lowering prices.
It does need to be repeated.
Nah, when the MAGA cult was screaming at Biden about the price of eggs and Trump ran on the promise of lowering them, they absolutely should be reminded and called out for every day.
Also, not sure what you're talking about grocery store prices still continue to rise where I'm at.
I mean Trump campaigned on lowering egg prices. So I think it's fair. I believe he said day one.
It's actually difficult to state how bad it would be. People use the United States dollar as a reserve currency because it's a trusted currency. It generally maintains its value.
It's in a precarious situation because it's not backed by anything but the Word of the United States Government. As soon as that government starts to default on loans there's absolutely nothing propping up the dollar as a reserve currency.
People will start to look for alternatives immediately. Which will absolutely tank the value of the dollar which will lead to more people looking for alternatives which will take the value which will lead to more people looking for alternatives which will tank the value....
Essentially you're looking at runaway hyperinflation until the value of the dollar reaches somewhere between literally shitting in your hand and a punch directly in the face...
You think the price of eggs are high now? Imagine how high they're going to be when nobody will accept cash for them, only barter. Literal fucking Pokémon cards are going to be worth more than the dollar very very soon. And the worst part of that statement is it's barely an exaggeration.
There are so many dollars stored away by countries all over the world primarily because it is a currency accepted nearly everywhere, especially for oil. If this domino falls, the currency will tumble. There are calculations that this would bring the us dollar down to 10 to 15 Euro-cent.
Yes.
It'd be collapsing-the-entire-US-economy bad, at the very least, which would probably cause a massive disruption across the whole world.
I expected this his first term. Let's see if it happens in round 2.
First term was for setting the stage and for loading the courts with corrupt judges.
This term is for executing the agenda.
It's very unlikely to happen. Republicans don't want it to happen while Trump is in office. Democrats don't want it to happen at all; this isn't like a government shutdown - it would be a catastrophe. The only question is what riders will slip in.
I’m afraid there are American oligarchs who do want it. They could end up owning everything. They don’t care how much people suffer if it consolidates wealth and power for a few.
If the People who will Feel the Pain First and Hardest were told to ALSO Stockpile Guns and Ammo I would be VERY Worried as a Politician! But FORTUNATELY we DONT live in that type of Country! We live in a Country where Dead Kids are a UNITING ISSUE and not a Polarizing one!
So hmm, how should I be investing my money now to avoid being screwed if this happens…
As crazy as it sounds, bitcoin, if US market crashes, all markets crash.
Gold would be good too, but I find it to be just as valuable as bitcoin in the real world - worthless to me, but a way to store wealth.
Nobody knows. The world economy is built around America always paying its debts.
But there is one thing: build mutual aid networks that can thrive without money being involved.
Positioning to take the smallest impact.
Gold, Bitcoin will be ok, but still traded to the US dollar.
EU stocks, but they will take a hit too, but might not be as bad.
Market short positions, but the sell on this is still us dollars.
Bricks and non perishable food
Invest in your community, talk to your neighbor, collectively stockpile shelf-stable staples like rice and beans in-bulk. No working-class Americans survived the Great Depression because their stock portfolio was clever, they survived on bare necessities and strong communities.
Cut to
How could the Democrats let this happen?
No worries, Democrats will vote for whatever the Republicans put together, like selling California to Russia in exchange for Canada and passing an amendment that makes slavery of minorities legal again in the name of bipartisanship and making sure the Republicans won't get blamed for any default.
Could.
It won’t.
I think it’s very possible. And I think orangeboi will threaten the people doing the ratings in various nonsensical ways. And when the default does happen, the world will probably begin to move away from the USD standard, which is probably good for the world in the long term.
Everyday that passes makes it easier to justify writing out family. Gonna be some hard truths with the family I care about in the near future as various family events are getting planned. But, I don't hang with fascists, so that's how it goes.
I get that disrupting family dynamics sucks, but “I don’t hang with fascists” has gotta be like the easiest and most beneficial life rule anyone could ever adopt. My dad’s a piece of shit. I walked away and have never looked back.
One of the best decisions I've ever made was cutting contact with the most racist and hateful in my family. It was much easier than I thought, I sleep much better at night. Last I heard, half of my siblings and a few nieces have followed suit. Don't let their poison hurt you.