Quote:
Originally Posted by afc wimbledon
Its not just that, if they go ahead and default the US interest rate will almost certainly go up precipitasly as a consequence, this is the same as a tax increase for virtually all americans, except the money goes to the banks and not to service the debt.
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That is something that makes little sense to me. The federal reserve is the one who sets interest rates and they are also the ones lending America money: Why do they have to raise interest rates if some secular agency lowers America's rating?