Boston Business Daily - What happens to a country that has enormous debt and politicians that refuse to stop compounding the debt?

What happens to a country that has enormous debt and politicians that refuse to stop compounding the debt?

What if a country doesn't have a federal reserve that can keep printing money and setting interest rates.What if that country has a Debt salesman like the Federal reserve but the Fed Chief has lost its Zing with the customers?

Public Comments

the constituents get angry and vote the incompetent fools out, here we come 2010 & 2012! before obama becomes a dictator.
They go hungry
Then next election they vote Republican and really get into a mess. Let's face it kid, we're doomed.
It eventually becomes a third world country.
Such politicians would be shot for high treason or hanged by thin wire and heavy weights for such a crime. dn
America economy is going to fail soon poverty will be ramped everyone will be hungery. Murder will be at and all time high.
visit britain and see for yourself.in fact buy it on e-bay for £30 .
http://en.wikipedia.org/wiki/Zimbabwe Refer to the "Decline (1999-Present)" section. Hyperinflation is not something to toy with. Even if it wouldn't get that bad in the US, do you really want to take the risk that it might? I sure don't.
Oh, its financial system collapses, and the money becomes worthless, then the government comes up with a new kind of currency, perhaps strictly electronic and may require all to carry a chip in their hand to ensure that fraud will not happen, or, possibly what the Holy Bible refers to as, the mark of the beast!
Nothing. Economy will recover, hysteria will go away, Obama will be re-elected for a second term and repuke idots will continue their idiotic whining...LOL
stay tuned...we are about to find out.
The money becomes worthless.
When they are cold in the winter they stop pretending that limiting carbon dioxide in the environment will save them. When they are hungry they ask why the government purchased millions of pounds of ham for twice the market rate. When they are homeless they wonder why their political leaders demonized the banks that could have given them loans. When they have no car, they ask "Why did we destroy the "clunkers?" They are angry.
learn to speak Chinese.....
If your a Democrat or a Republican, nothing mather if the country is broke! If the Government was a Business it would be a poorly run business and would not be worth investing into.
If a country doesn't have a central bank, it can't inflate the currency, the people's money won't become worth less and less, and interest rates would fluctuate with supply and demand just as they should. The Fed has been exposed as the fraud that it is and if the Fed Chief isn't careful, he's going to loose more than just his zing. The US attempted central banking very early on and abandoned it for the very reasons we should now. Between the closing of the Second Bank of the US in 1836, and the creation of the Federal Reserve Bank of the US in 1913, the US experienced few and relatively shallow economic downturns. Since 1913, we experienced "THE" Great Depression, and several smaller depressions, (We decided to call those recessions so they don't sound as scary.), and the current financial crises.
It becomes the country with the skinniest population and the fattest politicians