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Author Topic: Greece Cut to Selective Default by S&P [Locked]
-Mithan-  4 stars
Title: VNBoard Admin
Posts: 1,287
Registered: 2000-3-1 11:53:15
 Date Posted: 1/1/00 12:00am Subject: Greece Cut to Selective Default by S&P
DunesVladHarkonnen posted:
Acery posted:
What happens if Indiana or Illinois goes under?

Are we doomed?



IF? WHEN.

/mithan

doom! death camps! more doom!

/mithan



You are laughing now, but FEMA pictures on the internet prove I am right.

Have fun when the box car stops, they force you into a shoot and use a pneumatic cow poke on your brain.

 

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Brother_Tempus  3 stars
Title: Patriot
Posts: 985
Registered: 2001-1-9 08:07:00
 Date Posted: 1/1/00 12:00am Subject: Greece Cut to Selective Default by S&P
Acery posted:
doesn't the state of Indiana or Illinois have a higher GDP than Greece?

What happens if Indiana or Illinois goes under?

Are we doomed?



Constiutionally , the states in the US cannot default. The last time a state defaulted was Arkansas and in the end it was the federal government ( the taxpayer) that bailed them out

Expect a repeat of this next time. The problem this time was Arkansas was an exception to the rest of the states at the time

This time most states are in the same straights as Arkansas back then and the federal government is in a lot worse shape financially then back then


EDIT: What you are going to see is what you are seeing now in cities in trouble like Detroit

 

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