Quote:
Originally Posted by Me_Hi
Greece default- it was just delayed, only a matter of time. US default - don't worry, it's either coming or they will get away from it by intentionally devaluating the currency and losing their word currency status. As soon as the banks start losing $, they will stop lending money or raise interest rates sharply to recoup their losses which in return will create chaos on the markets and make you and me pay for it. I'm not even talking Italy, Portugal, Spain, Ireland and Iceland - natural disasters, Iran, Syria, Libya or the next US elections. Next year will be a bad one in my books.
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Combine potential US intrest hikes with the fact that 30% of American's have negative equity in their homes and you further the economic catastrophe. You will see the negative equity number hit 40-50%.
The US needs to clawback significant defense spending and invest within their borders. Its going to get even uglier down south.