Since the US is in debt, does that make me richer than the US?
>>1366204
How does this shit even work? Who would call this debt? How would it be paid? What would happen in a default? Can we default?
>>1366204
No, they still have a much higher net worth. Think about all the land that belongs to the US. That easily outweighs its debt.
>>1366209
Varoious ppl
to various ppl.
Lower credit rating. Currency value plummets. World starts treating us like Brazil.
yes.
>>1366209
It results in the dollar crashing and hyper-inflation
>>1366204
Only the most credit worth country can have the world's biggest debt
Oh and it's also the world's largest economy
It makes sense, fuck off, since they owe so much it's in the whole world's best interest that America prospers
>>1366223
That's not how you spell Chyna.
>>1366239
How many more bullshit answers can you come up with?
>>1366209
its a little complicated.
bonds are issued and traded to other central banks. This allows the new dollar to be backed. The gov buys these dollars with more bonds, and the dollars are issued to the banks who borrow with bonds.
Ultimately these bonds are payed with tax dollars.
Its a very long term trade.
The Brits recently finished the last payment on their WW1 war bonds.
Somebody please explain this shit to me in the same manner you'd explain a concept to a child.
Whose debt are we talking about? Government? Corporate? The sum of individual consumers? Whom do they owe? If other countries have national debt can't they just offset some of their debt against each other?
>>1367637
https://www.khanacademy.org/economics-finance-domain/core-finance/money-and-banking
>>1366204
Do you own 320+ million subjects and a strip of land between two biggest oceans + 10 aircraft carrier groups?
>>1366441
>IF someone ever DARED give us a lower credit rating, be it in an online blog, a foreign office or even an uppity local office in the states, we would bomb the shit out of them and their entire organization would disappear into black bags.
Underage nigger detected.
http://www.bloomberg.com/news/articles/2011-08-06/u-s-credit-rating-cut-by-s-p-for-first-time-on-deficit-reduction-accord
>>1366235
>tfw my gf's dad downgraded the US credit rating
>tfw watched Breaking Bad with him in a dressing gown
>tfw we didn't even get bombed
America, you need to get good.
