WARNING AREA AND DURATION:
United States of America, until Monday, August 1st 2011, Midnight EST.
EVENT INFORMATION:
The United States of America is rapidly approaching a sovereign debt default. The inability of America's political parties to reach a debt ceiling deal, and Thursday night's failure to even hold, let alone pass a house bill vote indicate that no solution has yet been reached. As of Thursday Night, the US Treasury will begin announcing its emergency plans. While an American debt default may ultimately not take place as there are still a few days left to reach an agreement, events and signs now indicate there is a possibility of a default occurring. This page will be updated as further negotiations unfold.
EMERGENCY INSTRUCTIONS:
1) Those possessing American financial products of any kind, or equities of any kind, should immediately get in contact with their financial advisers.
2) Those possessing house, car or student loans should immediately contact their financial advisers for further instructions, as a default will significantly affect interest rates.
3) While a US debt default would not be immediately dangerous, the most concerning after effects may be social and civil. Austerity measures may be put into place, and the public response may be less than favourable, as was demonstrated over recent months in Europe. Please stay tuned to your radio or television for information on events of unrest so that you may avoid them.
4) As with emergency events of any kind, entitlement payment programs and supply chains may be temporarily disrupted, so it is recommended to have a reasonable stock of food, water and medicines, as well as any other required safety materials on hand. Being prepared also allows individuals to avoid venturing out more often than needed in order to avoid violent or unpredictable situations.
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