ZenOps
01-06-2011, 08:14 PM
http://online.wsj.com/article/SB10001424052748704415104576065691721913276.html?mod=WSJ_WSJ_US_News_5
"Hitting the debt ceiling would leave the U.S. unable to borrow money to pay interest on what it already owes investors or to fund new spending. Treasury Secretary Timothy Geithner said in a letter to Congress Thursday that even a short-term default could be "catastrophic." It would drive up interest rates and push down the stock market and housing prices, he said, while future government borrowing could be much more costly."
Yeesh, the US is already at their credit limit again? 11th time in 11 years they have hit the credit limit. Quantitative easing 3 for another 600 billion might buy them a few months. Selling off the entire gold reserve of the US might buy them 4 months. Selling off the entire marijuna production of California for a year, might buy them a week.
Of interest payments.
"Hitting the debt ceiling would leave the U.S. unable to borrow money to pay interest on what it already owes investors or to fund new spending. Treasury Secretary Timothy Geithner said in a letter to Congress Thursday that even a short-term default could be "catastrophic." It would drive up interest rates and push down the stock market and housing prices, he said, while future government borrowing could be much more costly."
Yeesh, the US is already at their credit limit again? 11th time in 11 years they have hit the credit limit. Quantitative easing 3 for another 600 billion might buy them a few months. Selling off the entire gold reserve of the US might buy them 4 months. Selling off the entire marijuna production of California for a year, might buy them a week.
Of interest payments.