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How will the US "Debt Ceiling" crisis affect Canada?

Long Island Mike

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Everyone: I have been following the US "Debt Ceiling" crisis somewhat for some time
and after reading what may happen if the US Government cannot pay its bills I am now
wondering how it would affect Canada...

I am trying not to be partisan but it seems to me that the Republicans just want to see
US President Obama fail at the cost of major potential worldwide financial problems...

In the past the Debt Ceiling has been raised when it has been needed quietly but this
time it definitely is different...

As President Obama mentioned recently the People voted for a divided but not a dysfunctional government...

I am hoping that parties can get together and make something positive happen before a possible calamity happens on August 2nd...

Thoughts from Long Island Mike
 
They'll agree to something. Otherwise we'll have to go imperialist and send in the Canadian Army before the Mexicans take action! :p
 
Everyone: I have been following the US "Debt Ceiling" crisis somewhat for some time
and after reading what may happen if the US Government cannot pay its bills I am now
wondering how it would affect Canada...

I am trying not to be partisan but it seems to me that the Republicans just want to see
US President Obama fail at the cost of major potential worldwide financial problems...

In the past the Debt Ceiling has been raised when it has been needed quietly but this
time it definitely is different...

As President Obama mentioned recently the People voted for a divided but not a dysfunctional government...

I am hoping that parties can get together and make something positive happen before a possible calamity happens on August 2nd...

Thoughts from Long Island Mike

Heh, it's theatre.

The U.S. government has chosen to default by inflation or, putting it another way, by devaluing the dollar.
This is going to cause more damage than meeting its obligations and trying to balance the budget (which is laughable at this point).

The next upcoming crises will be a dollar crises, which quite a few people have warned about for quite sometime… but it's not as if the establishment cares — Never let a good crises go to waste ;)
 
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Heh, it's theatre.

The U.S. government has chosen to default by inflation or, putting it another way, by devaluing the dollar.
This is going to cause more damage than meeting its obligations and trying to balance the budget (which is laughable at this point).

The next upcoming crises will be a dollar crises, which quite a few people have warned about for quite sometime… but it's not as if the establishment cares — Never let a good crises go to waste ;)

A devalued USD = not the best news for Canada specifically as many manufacturing jobs could be driven back across the 49th parallel.
 
This will make for some pretty bad politics in the coming year. The Tea Party could possibly take hold politically, but with the baby boom on the edge of retirement, cutting deeply into entitlement programs (particularly those unfunded ones) will make for some rough fights.

How bad will this be for Canada? Probably not that bad. While the US government is in turmoil, there is a lot of wealth in the United States. It's economy is huge, and for the most part it runs independently of what takes place in DC.
 
So can we say that Obama's government has failed to cope up with the disaster that is coming to the USA due to financial crises...!! I want to know that what the public thinks about it? Are they ready to stand against the present president...!!
 
So can we say that Obama's government has failed to cope up with the disaster that is coming to the USA due to financial crises...!! I want to know that what the public thinks about it? Are they ready to stand against the present president...!!



not really !

you should really look into the incompetence, fraud and deception of the previous administration for getting the country into the unfunded and unwarranted 'war on terror'.

that has cost the country $3.7 - 4 TRILLION and countless unnecessary deaths.

http://www.msnbc.msn.com/id/4357300...ia/t/cost-us-wars-least-trillion-study-finds/
 
I believe Canadian competitiveness is going to improve substantially because the U.S., in making sure they do not turn off global investors by risking default, will effectively have to do things that make this side of the border more competitive.
 

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