Best case scenario if the U.S. defaults on the debt payment is life will go on nothing will noticeably change. The worst case scenario is banks will not open their doors. Your credit and debit cards will not work at stores or atms. Prices will sky rocket, for example a loaf of bread insteat of costing $1.98 a loaf will cost $5.98 a loaf. Gas will rise to $25.00 a gal. All neccesities will be inflated. Cash will disappear. No credit will be offered. Jobs will be lost, food will be scarce.
The USA has been through the fire before, but we will endure, we will revive ourselves, and will again prosper. Yes our debt is insane, but it was after WW2, and after our civil war. Anyone who assumes this is the last stand of a fading super power best look to history, it'll show we have a habit of rebounding.
Best case scenario if the U.S. defaults on the debt payment is life will go on nothing will noticeably change. The worst case scenario is banks will not open their doors. Your credit and debit cards will not work at stores or atms. Prices will sky rocket, for example a loaf of bread insteat of costing $1.98 a loaf will cost $5.98 a loaf. Gas will rise to $25.00 a gal. All neccesities will be inflated. Cash will disappear. No credit will be offered. Jobs will be lost, food will be scarce.
bamnibaum 7 months ago
@bamnibaum Excellent comment - default also means the US will not be able to pay its soldiers and civil servants.
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All the best
David
infokemp 7 months ago
Send me as much information as you can everyone on the default issue. I will do follow update videos on 2rd of August.
All the best
David
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infokemp 7 months ago
The USA has been through the fire before, but we will endure, we will revive ourselves, and will again prosper. Yes our debt is insane, but it was after WW2, and after our civil war. Anyone who assumes this is the last stand of a fading super power best look to history, it'll show we have a habit of rebounding.
pieman97405 7 months ago
@pieman97405 Yes the USA is a dynamic and resilliant nation - good luck!
infokemp 7 months ago
i consider us default a global economic day of reckoning. it will cook the global equity and bond markets worth of trillions of dollars.
Propcuser 7 months ago
Good for us that there is no August 2rd. lol
OlderG0ds 7 months ago 2
Great video, as I see it the US is FUCKED!!! Not because it's debt is so big or the crap dollar, but the retard far rightwing American politions.
mynoon1999 7 months ago
Please comment rate and subscribe!
All the best
David
infokemp 7 months ago