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Originally Posted by wig
I think you have this backwards.
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I had read that on CNN.com. Here is what the story said:
"If Congress fails to raise the $14.3 trillion debt limit by August 2, Americans could face rising interest rates, a declining dollar and increasingly jittery financial markets, among other problems."
I would guess that if the value of the dollar continues to drop and interest rates go up we would see inflation correct? I may be wrong about that though.
Although I am curious. I you are one of the guys on this board that really seem to understand the markets and financial sector. If default happens what do you think would take place?