Why? While by no means the most likely outcome, in my opinion, what about this scenario is to alarming to contemplate? You mean you might have to look up from your own concerns for a bit and focus on other more concrete issues like basic necessities? A house in PB would no longer be your prime economic focus? I’d love to hear why this is so alarming.
I don’t see a bank holiday as likely, we don’t have a gold backed currency, and the world has not shifted away from US demand enough. That will take years, unless of course we actually go through with Obamacare. If that happens, then that alarming scenario, whether too alarming or not, is front and center.
Josh[/quote]
I don’t know about you but our “basic necessities” rent, food, utilities are paid with money from our bank account. Our paychecks are directly deposited and I don’t keep a stash of money under the rug (well not anymore anyway)so yeah I think it’s kind of alarming.
The FDIC is essentially broke now. I wouldn’t be surprised by a bank holiday. Neither of the banks I use are performing well. How many San Diego banks are well capitalized? One maybe?
