London Bobby
Time traveller from previous century
Thursday, July 14, 2011
Playing chicken with world financial system
If the U.S. doesn't get an agreement between extremists in both parties by August 3 they are down the tubes and we will be sucked in after them. Tempting to sit back in Canada's comparatively stable economic climate but they are our biggest customer by far. If they go broke, we go broke. Hopeful quote from Winston Churchill, “You can always count on Americans to do the right thing - after they've tried everything else.”
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The debate, both pro and con, and any subsequent blame-assignment is all smoke and mirrors.
ReplyDeleteIf there is a default it will be because the corporate dog that wags the US govt tail has decided that it will go that way. It will be in the best financial or power-balance interest of those who made that decision. Whether it is in anybody else's interest will not be considered.