If the USA were bankrupt what would happen?

The US is bankrupt. It is actually in a far worse position than Greece or Ireland. California alone is in a worse position than either of those two countries.

The US government is currently printing money (calling it Quantitative Easing) which has the effect of reducing the value of the debt. And, BTW, the value of your dollar too, so you can buy less.

China is not yet refusing US purchase orders only because its economy is too dependent on the massive consumption by the US (70% of US GDP is consumption, very little production).

Many countries, and most of the big banks are trying to get out of US currency because it is heading downwards in value. I've been watching the USD v AUD and the AUD has appreciated by nearly 20% against the USD in the last 6 months.

I think at the end of QE 2, the US will have doubled the amount of money that was in circulation prior to the start of QE 1.

The rest of the world knows this is happening and is NOT happy. This contributed to the gross failue of the latest G20.

Definitely a worldwide financial crisis. Probably one the likes of which hasn't been seen before. Possibly civil war and war against other countries. Those are some of the many reasons why the US will never go bankrupt. The rest of the world would never let the US go bankrupt because it has too much to lose.

A currency collapse will take place within 60 months, the event will unfold in under 24 hours! Other countries will be harder hit than the U.S. The depression will last 20 years. Unemployment will reach 40%, 7 trillion in 401k's will be merged with the failed social security program. Inflation will explode. The U.S. will be engaged in endless wars. They are a few escape routes but most will not follow.

it would negatively affect other economies. however, the usa is not what it use to be. nations have risen up and there is not a big gap between the usa and other countries as there once had been. a civil war might occur in the usa... yes i think that is possible.

Canada financial gadget is integrated with america and could go through the comparable destiny. usa financial gadget nonetheless propels the international financial gadget. China in step with captia earnings is barely a million/3 of Mexico nonetheless China gonna proceed to lend money to the west because it desires them to purchase their extra products. usa needs to shrink spending enhance nonetheless by using fact its no longer sustainble over long term to pay 1000000000000 a year in tax money in interest on goverment debt The interest on debt is paid to China and the uncomplicated thank you to shrink is shrink goverment spending in any respect ranges.

The neo-cons would look around aimlessly and whistle tunelessly and then run like heII for the doors!

If no country would sell anything to the USA, the USA would have to produce everything it needed.

Adeline, you are wrong, there is nothing anyone can do but look what is put in place for all before that happens.

Senate bill S-510, has anyone an idea of what for.?

http://www.youtube.com/watch?v=gOups0dfdwM

http://www.youtube.com/watch?v=03-b1tuCEaA

http://www.youtube.com/watch?v=Y0Auprw8f74&feature...

The rest of the world depends on the Unites States for everything, whether they want to admit that or not.

Obama would blame Bush.