What are the consequences of not paying off debt?

[Dogs On Acid]

Because the U.$.A. is hoarding it like it's Christmas.

[thesadmafioso]

When the stability of global capitalism is vested in the state of your markets and when you have the worlds most powerful military, most people (capitalists) are willing to overlook certain problems that you may run into, such as debt accumulation.

[ВАЛТЕР]

I think, if a vast majority of people the decided they just weren't gonna pay the banks and government back, credit rating be damned. The system would implode on itself (at a much faster rate than it is already)....revolutionaries would just have to rise up at the right moment and sweep the bourgeoisie out of the way.

[redhotpoker]

The value of the US dollar will drop and interest rates will sky rocket.

[Dogs On Acid]

I like how Capitalists blame the problems of their own society on the State, and not Capitalism itself.

"It's too much State intervention that causes all this poverty."

Always makes me giggle :rolleyes:

[eric922]

I personally think if the U.S. defaults we should have to move back in with England. I'll say "God save the Queen" if said Queen will provide healthcare. Granted, England is one of the more conservative European nations, but it can't be worse than the U.S. I swear we have to one of the most reactionary places on Earth.

[Dogs On Acid]

I'll say "God save the Queen" if said Queen will provide healthcare.

Feudal Socialism isn't my cup of tea.

[eric922]

Feudal Socialism isn't my cup of tea.
It isn't mine either. That was more of a comment on how bad the U.S. is. Sorry for the misunderstanding.

[redtex]

What are the consequences of not paying off debt? Because the U.$.A. is hoarding it like it's Christmas.

If you are talking about debt that is owed to a bank then the consequences are nothing because the banks create that money (fiat currency) out of thin air by means of fractional reserve banking. The banks won't get paid back money that never existed in the first place. After the revolution the banks won't exist either.