2006-10-18 12:33:00 · 15 answers · asked by anonymous 2 in Politics & Government ➔ Other - Politics & Government
The dollar would collapse. World wide financial depression.
2006-10-18 12:35:48 · answer #1 · answered by Anonymous · 3⤊ 3⤋
Would be very bad. The dollar would collapse be next to worthless for quite a long time.
It would also take down the countries that have bought much of our debt (e.g. Japan, China, European nations).
It would also seriously hurt the global economy and many trading transactions of commodites like oil. All oil is traded in dollars
2006-10-18 12:38:21 · answer #2 · answered by dapixelator 6 · 0⤊ 4⤋
Ya know, nobody really cares to be honest, our country has almost all of its history in some form of national debt. Has it changed you life one bit, did it mean you couldn't afford a gallon of milk last week. Does it mean you have to cut the number of times you go to Applebees from 2 to 1. Did it change your boring pathetic life in any infinitesimal way?..........Well?...........I didn't think so!
2006-10-18 12:37:32 · answer #3 · answered by Anonymous · 2⤊ 2⤋
there is no national debt. its just an excuse to pay taxes. there are 300 million people in the US, 75% of them pay taxes, how can there possibly be any debt, honestly!
2006-10-18 12:49:17 · answer #4 · answered by ejonsie23 1 · 0⤊ 2⤋
The world would be plunged into an economic collapse that would make the Great Depression look like the 70s.
2006-10-18 12:36:47 · answer #5 · answered by Uncle Pennybags 7 · 1⤊ 3⤋
Well I know we wouldn't get as lucky as all the other nations that we forgive their debt. But we are in a great economy right now, so why would this even be an issue.
2006-10-18 12:35:21 · answer #6 · answered by Anonymous · 2⤊ 4⤋
No one has ever seen a war like that would cause, It would be everybody we own including China against us.
2006-10-18 12:36:25 · answer #7 · answered by Anonymous · 1⤊ 3⤋
Then the countries we owe will foreclose & we would belong to them or fight a war we can't win.
2006-10-18 12:40:31 · answer #8 · answered by Anonymous · 0⤊ 3⤋
world war 3 and usa would lose because all the other countries would band together aginst the usa
2006-10-18 12:35:52 · answer #9 · answered by chaos hellbound 2 · 2⤊ 4⤋
WELL EUROPE HAS DEVALUED THE DOLLAR ACROSS THE BOARD FOR STARTS,
2006-10-18 13:52:38 · answer #10 · answered by Bear 3 · 0⤊ 1⤋