5 Things That Will Happen To You When America Goes Bankrupt

Townhall.com ^ | April 12, 2011 | John Hawkins

[taillightchaser]

Just exactly what the socialist in the white hut has had in mind all along.

[RockinRight]

Also why the idiots on FR who advocate intentional government default have no idea what they’re talking about.

[IbJensen]

Obozo and his minions will be delighted!

[US Navy Vet]

Two words “Adolph Hitler”.

[Biggirl]

Well you forgot one thing to cite, they can print more money.

[ClearCase_guy]

A lot of people have stories of their grandparents, who went through the Great Depression, and then for the rest of their lives were always thrifty, always saved things that might be re-used later, never borrowed money. The Depression changed them, and the memory stayed with them.

I would hope that with the coming crash, people will realize the nature of government, and that the quickest way to lose a future election would be for a politician to say, "Here's what I will do for you ..."

What politicians ought to promise is, "I will preserve your rights, and make sure that no one messes with you, or your stuff." If people conclude that this is all government is good for, then perhaps the coming Crash will be worth it.

[WOBBLY BOB]

RE: # 1

Inflation, this is the process by which your purchasing power is removed from you by the devaluation of the currency that you carry. Inflation has been deemed a Hidden Tax because the government uses inflation to continually fund their projects, while taking that money out of your pockets. You don’t even see it happening, Washington never sends you an additional tax bill, the money you have just doesn’t go as far as it used to.

“Why Socialists Love Inflation”
http://www.youtube.com/watch?v=-pGiMEcsnNc&feature=player_embedded

[Mortrey]

Yup...Little Stevie Dunham’s Dream Come True.

[pgkdan]

bump! Need to show this to the wife when I get home...

[US Navy Vet]

Two more words “Nazi America”.

[OB1kNOb]

It could very likely be much worse than anyone today can fathom especially if hyperinflation causes or happens as a result of our bankruptcy.....

[Redleg Duke]

The real problem, and goal for the socialists, is to get various members of society feeding off of each other.

For example, my vegetable garden and chicken flock become "communal property" (To each according to his needs from each according to his abilities!).

Open warfare develops as those who planned ahead have to defend themselves and there property from those who didn't, but are egged on by the socialist leadership.

[Biggirl]

Also the start of the second American Revolution could very well begin.

[hosepipe]

Cloward-Piven explained in a nutshell..

[umgud]

In the not too distant future, I’ll need two wheel-barrows. One to haul the cash to pay off my debt and mortgage and the other to buy a loaf of bread.

[Aria]

Just exactly what Soros told the socialist in the white hut to do.

I’m sure the monster is making billions by shorting the dollar.

[kevkrom]

Well you forgot one thing to cite, they can print more money.

That's addressed in point #1. Printing money is inflationary, unless it is done with respect to an economy that is expanding as quickly as the money supply is being increased.

[Sir Gawain]

The politicians should be scared of this scenario more than anyone else. It will be open season on them and no one will shed tears when they die.

[ClearCase_guy]

Your mortgage shouldn’t be a problem. Let’s say you have a fixed rate mortgage and pay $1500 a month on it. Well, with hyperinflation and a few paltry cost of living adjustments, you might find yourself earning $1000/hr. Now, given the skyrocketing price of bread, you may have trouble buying food for your family (at a mere $1000/hr, you may not earn enough to buy food) — but that $1500 monthly mortgage payment? Pfffttthh! Not a problem.