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[mainiac]

Certainly no European country has the ability to bounce back from near-bankruptcy as often and frequently as the US, which seems to be flexible enough to do that several times in recent years. Something like that government shutdown last autumn would have quite the horrifying consequences here, I guess.

Considering the US hasn't been near bankruptcy in about 200 years, I can neither confirm nor deny the notion that it's good at springing back from that.

[XXSockXX]

Considering the US hasn't been near bankruptcy in about 200 years, I can neither confirm nor deny the notion that it's good at springing back from that.

What about the shutdown in last October or the one 2 years ago? If the debt ceiling had not been raised, that would have meant bankruptcy, at least that's how I understood it. Am I misunderstanding something there?

Is it that you don't consider it near-bankruptcy because it was just a political question whether to make more debt while still having the option to make that debt?

[mainiac]

What about the shutdown in last October or the one 2 years ago? If the debt ceiling had not been raised, that would have meant bankruptcy, at least that's how I understood it. Am I misunderstanding something there?

1) A default was never very likely
2) While a bankruptcy generally entails a default, a default and a bankruptcy are not the same thing.  The US was never remotely close to being unable to cover it's issued debts.

Spoiler (click to show/hide)

See that tiny in October 2013?  That is most likely a risk premium, i.e. a rise in prices due to the fear of default.  Investors panicked and at their most panicky rates increased by about .3%.  That means that at their most panicky they thought there was a 1 in 350 chance that a default was going to happen.

[XXSockXX]

1) A default was never very likely
2) While a bankruptcy generally entails a default, a default and a bankruptcy are not the same thing.  The US was never remotely close to being unable to cover it's issued debts.

1) I know, it was possible in theory, but it was mostly just a political power game.
2) Alright, seems I've been confusing these things in that context.

[mainiac]

If you knew that why would say the US came bounced back from near bankruptcy?

[XXSockXX]

If you knew that why would say the US came bounced back from near bankruptcy?

Because, while unlikely, a default was possible, because the US has a huge public debt and because I've been confusing a possible default with near-bankruptcy.
These government shutdowns look kinda scary from here (where they don't really exist and where much more depends on government money), which sort of proves my earlier point that one (in that case I) shouldn't compare different countries to each other too superficially.

[10ebbor10]

If you knew that why would say the US came bounced back from near bankruptcy?

Because, while unlikely, a default was possible, because the US has a huge public debt and because I've been confusing a possible default with near-bankruptcy.
These government shutdowns look kinda scary from here (where they don't really exist and where much more depends on government money), which sort of proves my earlier point that one (in that case I) shouldn't compare different countries to each other too superficially.

Governement shutdowns do exist in Europe (see Belgium), it's just that European countries have much better systems to deal with them.

[Dutchling]

It's like there's actual human beans running the European Parliament.

[TD1]

Lol...I like how they're trying to connect....and failing 

[Loud Whispers]

I TRIED TO WARN YOU
THE MEMES KEEP HAPPENING

[Helgoland]

They're still doing it better than US senators, though.

[scriver]

If you knew that why would say the US came bounced back from near bankruptcy?

Because, while unlikely, a default was possible, because the US has a huge public debt and because I've been confusing a possible default with near-bankruptcy.
These government shutdowns look kinda scary from here (where they don't really exist and where much more depends on government money), which sort of proves my earlier point that one (in that case I) shouldn't compare different countries to each other too superficially.

Governement shutdowns do exist in Europe (see Belgium), it's just that European countries have much better systems to deal with them.

We learned long ago to make our governments as disassociated as possible from the process of actually running the countries. Being governed by these people for 200-700 years rooted it firmly in our administratia.

[10ebbor10]

Your link is broken.

[scriver]

Ah, dammit. I had hoped it would relink properly from the mobile version.

Edit: there. Does it work now?

[10ebbor10]

It works great.