A good read of an article that discusses the possibility and impacts of a US debt default, brought about by Congress not increasing the US debt limit. The piece goes on to talk about (albeit briefly) about the global repercussions of such an event. Also, it touches on the likelihood of market movements forcing the govt’s hand.
The graph (not from the article), interestingly, paints a thousand words as it depicts the Lehman bankruptcy and the resultant cost of debt rise followed by the forced TARP announcement, resulting in some relief. Expect to see such curves just around the corner!
I am inclined to believe that the market will force some resolution to the current impasse between the Republicans and Obama’s policies. Irrespective of the outcome, the markets will suffer – default would set off a string of indices, ratings and prices fall, while resolution-imposed austerity measures will also have negative consequences, although not as profound nor catastrophic.
“US Default would Likely Cause …” from The Huffington Post
I’m pretty sure most of you have already read this piece on how our memory is adapting to technology as we tend to remember things that we believe will not be readily available on the ubiquitous Net and tend not store in memory, stuff we know will be readily accessible.
However, the argument seems an extension/ reinforcement of this piece from back in 2007, where the author discusses our reliance on external memory, namely the Net. His article differs from this other author’s article, in that the former actually likes it, while the latter finds it disconcerting, even damaging. In fact, the last article goes on to talk about other side effects, including our diminishing attention span.
Where do I stand? I kind of agree with the notion that the Net is making us too reliant on the “wired word”; I’d rather we stored more in our brains, actual stuff, not just info on where would be able to find that actual stuff! I just think it’d keep our brains sharp.
Did I remember reading all these articles? Nah! I just googled them. :)