Yelnoc
Junior Chimp
Posts: 7,187
|
|
« on: January 04, 2011, 09:49:01 PM » |
|
The problem is the debt. Illinois and California are very likely to default on theirs before 2012. The GOP Congress will likely refuse a bailout for political reason, leading to the collapse of the other states and prompting China to quit financing the national debt. The economy goes to hell in a handbasket , bubbles pop and global sadness reigns as we enter the Second Great Depression (accompanied by more European nation defaulting and the Euro falling apart).
|