What exactly would happen if US defaults?

What exactly would happen if US defaults? Is it like the end of the world or something?

Asked By: - 7/29/2011
Best Answer - Chosen by Asker
The most dire things following from a default (which few people are talking about) could be... More
Answered By: ßIИGΟßOИGO - 7/29/2011
Additional Answers (4)
No idea but the Aussie dollar is going to keep going up..
Answered By: Panda Bear - 7/29/2011
billion or trillion of dollars will be burned out because markets will crash
Answered By: meow - 7/29/2011
it's not "IF" the U.S. Defaults.. at this point it's "WHEN" the U.S. Defaults.. even if we find funding to keep us hanging on for a little bit past Aug 2nd we are Still too deep in the Hole to prevent it from happening, all we can do now is buy time.. if even that.. The U.S. economy has pretty much been found to be a... More
Answered By: Rachel - 7/29/2011
The US of A would be broke.Regular Americans will suffer from inflation and high interest rate. The assets would be forced on sale by auction. People will lose jobs and income. Only cheaters can enjoy life.
Answered By: Anjaree - 7/29/2011
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