Reply to Emmanuel Macron and the duplicity of the French

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I’ll address #3.  The “extra territoriality” of the dollar is putting the global economy at risk. McCarthy (whom it took double digit votes to elect in the first place) has 4 votes to spare and is dealing with everyone from MTG, Bobbert and Gaetz to the tea party in negotiating the debt ceiling.  He has yet to articulate a coherent solution.  And no, the party holding the Senate and White House isn’t going to give him a rescission halfway through the fiscal year and MTG’s dream list.

France should be concerned because there is a good chance we will default on our debt this year and take France down with us. Looking at my IRA and 529s, I’d feel better if world currency wasn’t tied to the dollar. I think most American don’t understand just how bad a default will be. But they will when SSA and the VA can’t send out checks. [/quote]

Lol.This is exactly what is called saying a bunch of nothing . We will take france down with them? Do you by any chance have any idea what you're talking about ? Clearly not . Hint : Everything you wrote has zero basis in economics, much less global economics . [/quote]

Well, it’s mostly politics. McCarthy is screwed. And rather than be John Bonner, he’ll take us all down with him.

I’m involved in this mess as my job. And I think years of government shutdowns where most feds worked now and got paid later have made you, like most Americans, not realize how involved the federal government is in… everything. If the federal government stops paying its bills, which include payment that keep grandma in groceries and liquidity that keeps banks lending (and VA benefits, Medicare reimbursements, SBA loans, VA loans, etc, etc) 2008 is going to look like a minor bump in the road. How much are the bonds in your portfolio worth if the government won’t redeem them). And once the dollar nose dives, everything tied to the dollar nosedives.

The problem with playing chicken every year and getting closer and closer before pulling away is that at some point there will be a collision. [/quote]

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