US gubmint shutdown + default + subprime sequel?

[Beskar]

Erm, I hate to burst your bubble, but unless you are stating that there would then be no lending, it would change nothing.

China's municipalities are in massive debt due to their lending. It changes the name, not the outcome.

I really want to believe you're joking as if I attack your position you'll retreat to the barricades.

My comment was in partial jest, as in, I think ultimately a united government with a single currency, along with world-wide economic reforms including a total economic reboot would solve so many issues present in the current global market.

As for "There would be no lending", that would be a folly, as I think you said yourself earlier Rory, owing $1000 to the bank, you are in trouble, the owing $10,000,000 to the bank and the bank is in trouble. Economic reform would include provisions for banks to lend what it can afford to lend. If this came alongside social shift in how we spend/treat money a credit crunch or similar would never occur.

If a global government with a balanced budget sheet came into play as well, with funds for "Rainy Day", then it changes the outcome of the global climate. If a bank ends up bankrupting, the other banks would simply fill the void of where it fell and there would be no threats to the stability of the government/nation, as we have seen in Greece, USA and other places.

The reason for global government is because the Eurozone is a joke if all the different countries are singing from different song sheets, and thus so would be the world if there was just a unified currency.

As for a unified currency, the benefits of that is pretty common sense and would go into a different argument.


As for my comment in jest, there is no way that such a revolution would occur unless some random cataclysm event occurs. People are too self-interested in their own stocks to create a new world which would solve a great many of the old worlds wrongs.