At the moment the clock is ticking. As American has not agreeded to holding another trillion dollars in debt. The implications for the rest of the world are absolutely dire. If they can not come to an agreement then they will default on all their previous loans. It could as a consequence mean interest rates for the rest of europe with go up higher than a rocket. Further from this it may mean, repossessions and homelessness for all those who would be sitting in comfort. Job will ultimately go and we will then find everything becomes substantially more expensive.
Now is a catastrophic time.
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