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Watchwoman on the Wall
What Will Happen if the USA Defaults – Has it ever happened before?
By
Donna Calvin
THE MISES INSTITUTE http://mises.org/daily/5463/A-Short-History-of-US-Credit-Defaults Daily Email Newsletter July 15, 2011 A Short History of US Credit Defaults by John S. Chamberlain on July 15, 2011 On July 13th, the president of the United States angrily walked out of ongoing negotiations over the raising of the debt ceiling from its legislated maximum of $14.294 trillion dollars. This…
Democrats Spook Markets with Bogus Threat of Default
By
Donna Calvin
“Failure to raise the debt limit would force the United States to default,” Treasury Secretary Timothy F. Geithner panted in a May 13 letter to Sen. Michael F. Bennet, Colorado Democrat. “A default would inflict catastrophic, far reaching damage on our nation’s economy, significantly reducing growth, and increasing unemployment.” Mr. Geithner’s hyperventilation ignores the experiences…
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