Saturday, July 30, 2011
Debtpocalypse Now
It may surprise you to hear this, but I am not exactly an economist. I took economics in high school, but my teacher just showed filmstrips about trade all the time, which caused me to fall asleep and have very vivid dreams about eating a giant cookie. (Also everyone except me cheated in that class without any consequences -- I still remember that one of my friends bought her final paper for that class and accidentally got one on the wrong topic, but still got a B.) I also took economics in college, but it all kind of seemed like fantasy to me. And not the good kind with unicorns and rainbows.
Anyway, my point in all of this is just that I have no understanding of what specifically will happen if the debt ceiling is not raised by Tuesday, but I do feel like it won't be good. Do I need to get my money out of the bank and start hiding it in various places around my house and yard? Should I be changing it over to foreign currencies? I think I have a few savings bonds my grandma gave me someplace -- do I need to cash those in now? Should I just invest everything in crop tops and be done with it? I have so, so many questions.
Maybe there will be some sort of deal. I'm sure whatever it would be would be horrible for the country in the long run, but at least it would save me from having to come up with some sort of financial plan right now.
It may surprise you to hear this, but I am not exactly an economist. I took economics in high school, but my teacher just showed filmstrips about trade all the time, which caused me to fall asleep and have very vivid dreams about eating a giant cookie. (Also everyone except me cheated in that class without any consequences -- I still remember that one of my friends bought her final paper for that class and accidentally got one on the wrong topic, but still got a B.) I also took economics in college, but it all kind of seemed like fantasy to me. And not the good kind with unicorns and rainbows.
Anyway, my point in all of this is just that I have no understanding of what specifically will happen if the debt ceiling is not raised by Tuesday, but I do feel like it won't be good. Do I need to get my money out of the bank and start hiding it in various places around my house and yard? Should I be changing it over to foreign currencies? I think I have a few savings bonds my grandma gave me someplace -- do I need to cash those in now? Should I just invest everything in crop tops and be done with it? I have so, so many questions.
Maybe there will be some sort of deal. I'm sure whatever it would be would be horrible for the country in the long run, but at least it would save me from having to come up with some sort of financial plan right now.
