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Thread: As US default neared, banks, JPMorgan spent $100M's planning. Next default likely

  1. #1
    Regular Member
    Join Date
    Feb 2013
    Thru Death's Door in Wisconsin

    As US default neared, banks, JPMorgan spent $100M's planning. Next default likely

    "It may not go to waste. The temporary budget agreement that President Barack Obama signed shortly after midnight on October 17 to end the shutdown and lift the default threat, authorizes government spending through January 15 and eases enforcement of the debt limit until February 7, creating the potential for another budget crisis early next year, even as some Republicans vow they will avoid it.

    With each crisis, the once-unthinkable scenario of a U.S. default becomes a little more real, bank executives said."

    This from Canada and not US lamestream media. N. N. Taleb says lots of little personal Mom&Pop failures are better than trying to prevent failures of those too big to fail - and they will fail.
    Last edited by Nightmare; 11-19-2013 at 08:22 AM.
    I am responsible for my writing, not your understanding of it.

  2. #2
    Regular Member
    Join Date
    Oct 2013
    South Carolina

    what amazes me.............

    is why we think this is unthinkable?????? We're no different than Greece. If you dont' have enough money coming in to pay your bills, you default. What's the alternative? We're not immune from basic economics simply because we are the USA. People are too complacent in believing that it's not possible for this to happen.

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