Club for default
October 10, 2013 | A whole bunch of the Republicans are spreading the word that a US default would be no big deal; some even claim a default isn't even possible! This is whistling past the graveyard for sure.
It occurred to me to look up what other countries have in recent times defaulted on their debt (GoBankingRates.com).
|Venezuela, August 1998||Argentina, January 2002|
|Russia, August 1998||Moldovia, June 2001, 2002|
|Ukraine, September 1998 and January 2000||Uruguay, May 2003|
|Ecuador, August 1999 and December 2008||Dominican Republic, April 2005|
|Peru, September 2000||Belize, December 2000|
The ten countries above are ones that defaulted on their national debt. Now let's recall the country that defaulted on its bonds:
That's right, Greece! After all the caterwauling on the Right that if the US didn't drastically reduce spending it would become Greece!!!, isn't it deliciously ironic that the Right, by leading us to and perhaps over the brink of default, will be responsible for turning the US economy into another Greece!!!
Last updated on Apr 29, 2016