US Debt Ceiling: How a Default Could Affect You | Firstpost Unpacked

US Debt Ceiling: How a Default Could Affect You | Firstpost Unpacked
The US government could start to run out of money if Congress fails to raise the debt ceiling by the end of the month. What would this mean for the world and especially your personal finances?

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[Firstpost]

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Flashback with Palki Sharma:
Between the lines with Palki Sharma:

[coolguy]

Don't worry. The US politicians just want to make some world headlines. Both parties will agree to raise the debt ceiling in the final minute. The same thing had happened in the last 22 times.

[victory]

I am curious as to whether individuals who underwent the 2008 financial crisis had a less arduous experience than I am currently enduring, given that prevailing market conditions are causing me considerable distress. Specifically, my portfolio has incurred a loss of over $27, 000 this month alone, and my profits are dwindling. I am concerned that my retirement plans may be jeopardized, as I am unable to augment my stagnant reserves.

[Philippinespolicedepartment]

Roughly $120K in my portfolio are in tech/TSLA stocks, can I get an advice on any other stocks that I can acquire to diversify my reserve across multiple markets while creating a comprehensive portfolio allocation that balances my concerns of risk aversion and returns that meet yearly inflation

[kimcissell]

America is one step away from being the next Venezuela.

[kuanged]

There is no way that they will let the debt ceiling be breached. They always end up with an 11th hour agreement. They'll issue bonds and draw even more liquidity out of the banking system driving up the cost of everything.

[Soundsaboutright]

At the last moment they'll make a deal, they want their money.

[MD-pbll]

This is ridiculous. We paid into Social Security, but we are scared that we will not able to get the money.

[ahamedazmi]

No worries, they will increase the debt ceiling. There's no need to panic; this is normal for the US.

[leematthews]

The debt ceiling will be raised....probably with 24 hours to spare.

[snoopylyn]

Where’s the money??? We are paying taxes for everything!!! That’s why stop spending money you don’t have ! Don’t be a hero for everybody outside but take care your people first 🤦🏻‍♂️🤦🏻‍♂️

[sammytanzo]

EVILS WON'T TRIUMPH...KARMA IS REAL FOR THE DEVILS👍

[joem]

Raising ceiling means no default only if you find people to buy the debt. If not much interest at auctions, the Fed Reserve will be forced to print money to buy new US debt and to roll over matrued old debt. And any idea how it'll ever be repaid ? By increasing taxes or high and long term inflation ? Can somebody please point out a good in all this ?

[MS-stzb]

Zelelnsky said he would loan me some money if I need it, he says he is flush with cash.

[ClementRusso]

The bank crisis isn't over yet, and experienced individuals know credit crises don't end quickly. Some find it amusing that some think it's resolved, but in reality, we're headed for a major economic downturn due to this credit contraction.

[jojopapa]

Imagine we had 11-14% unemployment rate 2 years ago and none of what you said happened!

[brianjohnson]

Go to the same money tree where they found over a billion to send to the comedian

[MarshallOfficial]

This is NOT politics. Politics is always blamed. This "default ceiling" topic being issued-out in the media is a: social manipulation (by congress) of a political process. It the obligation of congress to "make sure" (police) the expense of running America without default. Default is "not actually" in question; the price it costs for Our Lands and We People to be "cared for" is being increased to allotted for the increase in the cost of living. The nature of Creation is evident in the cost it causes for other people, species and animals in their respective habitat of nature being able to afford to live; Every nation has increased their cost of taking care of their respective nation. A lion that is chased out of its feeding ground to starve in unfruitful land, for people to live there (in the lions feeding ground) leaves the lion no choice but to intrude upon the people in order for the lion to survive. Humanity must afford the land and humanity must afford to feed the lion, if humanity chases the lion away from its food source (feeding ground).

[phoerest]

If the US dollar was still linked to gold, this wouldn't happen. The next Reserve Currency, needs to be backed by gold, it simply cannot be allowed to become a run away train again because it is always the poor people who end up suffering the most from a devalued currency..

[ponkacbg]

they'll do do whatever they have on their mind...people always pay double...and btw why are we still using one currency that is based on thin air...knowing that this could happen any day...we deserve everything that is happening to us.