Yelnoc
Junior Chimp
Posts: 7,182
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« on: January 04, 2011, 09:49:01 PM » |
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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).
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