I can’t tell you how pleased I am with the fact that my blog pointed out the ridiculousness of a “fight” over our nation’s full faith and credit, followed by this week’s announcement that no such fight will take place…… at least for a few months. Responsible writing and information always serves the public best. Our nation is strong and innovative enough to overcome any challenge, domestic or foreign. It’s just a bit shocking that many of our most serious challenges have been domestic lately.
I also take a broader look at the damage that could theoretically be imposed on world wide financial markets by portions of the Republican party in the American congress. Too often, we are seeing news people mention the damage that could come to us as the US, and that is certainly true, but a worldwide collapse of financial systems all built on three basic worldwide reserve currencies that include the US dollar would create an international disaster far more difficult to fix than to create, and much broader in its destruction, than a simple, “oops we make a mistake ruling” the following day here domestically on a true to life US default.
For all of the reasons I have stated before about the creation of a set of “risk free” financial instruments that stabilize the whole world, a US default would be internationally catastrophic and bleed well beyond our domestic borders immediately.
By adding a risk on a payment after one has promised no risk, the value of one’s credit is forever damaged, and the mere cost of carrying that debt, and the risk of carrying that formerly risk free debt become costly. That isn’t something one congressman in Texas can fix, no matter how steadfast his convictions and confusions over the difference between spending and a debt ceiling which I have said are completely separate subjects.
I am hosting an hour long Webinar sponsored by JustAnswer.com and by Pearl.com that will feature a 40 minute discussion on how to rid yourself of Financial Flab as we face 2013, including a whole discussion on student loans among other subjects, and registration is free. There will be a 20 minute Q&A at the end. Jan. 29, 2013. Please join me for an informational, educational, fun hour at 1pm PST.
Link for registration: https://attendee.gotowebinar.com/register/2117328789726237440
One of the subjects I will be covering is the new business model on Education where students can take classes on the internet for free as expressed by WEU, founded right here in the desert.
I can always be reached via my website as well: www.johnpaulvaldez.com