WHAT HAPPENS WHEN COUNTRIES DEFAULT ON DEBT?

CNN’s Jim Boulden looks at countries which have defaulted in the past or found themselves facing economic meltdown. To License This Clip, Click Here: http://collection.cnn.com/content/clip/37032471_001.do
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How a U.S. debt default could impact you

A U.S. government default will hurt the value of the dollar and cause interest rates to climb, which spills over to mortgage rates, car loans, 401(k) plans and more.
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14 thoughts on “WHAT HAPPENS WHEN COUNTRIES DEFAULT ON DEBT?”

  1. This video has been indexed by DR-KNOW / iq-2k  Information Services ; A link has been added to help turn information into knowledge

  2. If they default then foreign countries will refuse to lend to america again. america would still be better off since defaulting is better than paying 21 trillion. americans will be forced to live within their means. But better that than paying of 21 trillion. Which is larger than the gdp

  3. The currency will drop internationally in value. The us defaulted on its debts back in 1971.
    The Nixon shock was a series of economic measures undertaken by United States President Richard Nixon in 1971, the most significant of which was the unilateral cancellation of the direct international convertibility of the United States dollar to gold.

  4. First of all it is just bullies who make their own story up and dont play by the rules who claim someone owes them. Missing evidence, meetings behind their backs and not informing them, playing their own game without giving the others a chance.
    Then when they defendant states this is what is going on they surround him and claim he is in charge and we did what he said.
    This has happened and is happening to me.
    My paper trail collected from government departments after being pinballed around doesnt stand for anything, real proceedings happen behind closed doors where there is no chance of any real proegress or fair trail. They win or kill you or both. That was Melbourne Australia anyway.
    They claim they work with or for you, drain the world of anything they can get their hands on, spread it around to people they actually robbed remotely but give it to them in person like they were the heroes.
    Edit a story and smother your story.
    Its my life I have a right to share it with who i choose. Not for sale.
    You cant choose your family but you can choose your friends.
    Unless they pretend to be friends until it doesnt suit them anymore or you turn up in person.
    Wont let you think, work, study because your credibility is a problem to their stories.
    Force feed nations via the media like stuffing food down a goose gullet.
    Nation in Debt. Theys how they take over instead of going in and shooting everyone.
    The War is the same the weapons have changed.
    I remember the 80's "Help this poor child in another country" They ran those ads in that country as well. All collecting and building casinos with it.
    "Please donate to India" playing in Africa
    "Please donate to Africa" playing in India
    Launch another satelite, buy another media center.
    Lets now investigate the WTC BEFORE planes hit them.

  5. Russia defaulted by choice. US can default by choice. Japan can default by choice, but can never default because they are bankrupt. They can never be bankrupt i.e. they can never run out of their own currencies because they control their own currency.

  6. More half truths. You failed to mention more stimulus from the government devalues the dollar also and that hurts people by rising costs of food and fuel from inflation. And this is why people are dumb in this country cause they don't do research and believe everything they see on tv for what it is. Bunch of sheep.

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