Quote:
Originally Posted by Xellos-_^
they already blame Americans for everything anyway. whats one more added on  |
Because this time they will have a stick to hit back. Look at Greece. Public opinion in other European countries has forced their governments and the IMF to act tough on the austerity measures. The people there are told to bleed for their government's mistakes.
The US, due to its low savings rate, is dependant on external financing. After a default the country will be cut off from the money markets. How *nice* do you think the demands of China, the EU, Japan etc. will be in exchange for new loans, if a bunch of silly US politicians, in a game of texas hold 'em, just hurt their economies?