So America is running out of money and can’t pay it’s debts. I’m going there on holiday in a few weeks time so should I buy dollars now or in a couple of weeks time when they’ve gone bust? When will I get the most $ for my £?

I would worry more about not having a job when you get back home TBH.

Buy half now, half when you get there.

You dont know better than the market so dont try and beat it.

Makes me think of:

[video]http://www.youtube.com/watch?v=I5QwKEwo4Bc[/video]

Are there any countries that don’t owe money to other countries?

Yes. 4 of them.

Lichtenstein seems the closest, but I think I’d prefer Palau as a place to hide out.

They always show the debt figures as %gdp or per capita, but that’s comparing government debt figures with private wealth, much more realistic to compare debt with tax revenues (and that would really show how fecked America is).

understand where all these countries borrow from and the answer is simple. All the Opec countries have surpluses that dwarf the deficiets of the others.. stop buying oil and were all sunk.

Neither Russia or China are in debt, and most of the USA’s debt is to China now.

The USA had no debt, in fact a surplus, when Clinton left office, so what 11 years ago.

(Apparently)

The dollar will jump this week if they sort the budget out. If they dont then we are all fu*ked.

thegreatape – Member
Neither Russia or China are in debt, and most of the USA’s debt is to China now.

The USA had no debt, in fact a surplus, when Clinton left office, so what 11 years ago.

(Apparently)

I think it still had debt but the budget was in surplus (ie the debt was coming down not increasing like it is now).

Also I think the Republicans played into Obama’s hands over this.