So I was talking to my Mum today about the US and the possible default.
I live in Australia.
So I let my mum know how dire the US debt default situation is, and that the whole world will be affected if the US does default.
I let her know about the $850 million bet that someone made and that they stood to gain $10 billion if it did.
I let her know that an economy like the US would probably print lots of money and possibly default that way, through Hyper-inflation.
I let her know that there are about 4 million home owners in the US who are currently not paying their mortgages, and soon the US government will
force the banks to take that loss.
I told her I was worried about my Super, and her Super, my dads superannuation. Because lots of super trust funds have lots of shares and the
sharemarket will go down.
I let her know that if the US does default, the stock markets will likely lose about 3000 points in one day, and about 2000 points the next.
That the price of gold, silver and commodities, including food stuff would go up, and inflation would likely sky-rocket.
I told her about Greece and the bail-out they received is not what they need. They don't need more debt stacked on top of debt that they already cant
pay. I let her know that this is exactly what the US is doing.
After all that, I took my dog for a walk. I came back half an hour later and my mum was so worried, she and I went grocery shopping, for essentials,
food stuffs, long life stuff, seeds to grow our own food also if need arises, water, etc
The Grocery Bill was $560!!! Ok so a bit overboard maybe, but at least we are prepared better if SHTF, and my mum is less worried.
On the way out to the car my Mum stopped by the alcohol shop, and she chatted away to the checkout lady, and told her what we just did. She had a good
laugh and said "Don't worry, My Boyfriend and I read up about 2012, and have made plans for a holiday to Mum and Dads in the country, with horses
and lots of seeds"!!! ;-P