2007-04-17 16:40:49 · 5 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
A nation full of millionaires with plenty of jobs for people that wanted to work.
2007-04-18 01:57:58 · answer #1 · answered by richkvegas 3 · 0⤊ 0⤋
A mess. I could not have a house, or a car, or many other things. Obviously, business and government finances would also be totally trashed. Since the money supply is controlled in large part by the borrowings of the Federal Reserve, we would have to go back to the gold standard -- which was a disaster.
2007-04-18 00:07:30 · answer #2 · answered by Anonymous · 0⤊ 0⤋
We'd have a nation that was run by someone other than George W Bush.
The country would be debt free, and 3/4 of the country's problems would cease to exist. People would know how to save and purchase sensible things, instead of always purchasing impulse.
On the downside, you wouldn't have some of the nicer things, many of us would probably live in shacks, ect. Housing would definately be more affordable, it's the banks fault and greediness that have caused homes to be as expensive as they are.
2007-04-18 00:12:44 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Much worse than it looks like today. I don't completely understand the economic theory behind it, but people a lot smarter than I am suggest that a certain level of national debt is a good thing.
2007-04-17 23:46:03 · answer #4 · answered by S.G. 2 · 0⤊ 0⤋
hmm i dont know but there are many many countries out there who operate on borrowed money and a lot of those borrowed it from us. just fyi.
2007-04-17 23:49:33 · answer #5 · answered by KJC 7 · 1⤊ 1⤋