So how would a default effect the economy

[nilecroc]

https://m.facebook.com/story.php?story_fbid=10151669445529117&id=17548474116&__user=100000247848017

I'm confused. I'm pretty sure that not raising the debt cieling won't result in a default. But I'm confused as ti whatceould happen. This article by reason claims it wouldn't be vad, but half tge comments on thr facebook post claims it will. 

[MrBogosity]

Interest rates would go up, which needs to happen anyway.

[evensgrey]

Interest rates would go up, which needs to happen anyway.

They're going to go up anyway, given that the end of the great currency dump has already been announced.

For those who claim that dumping all that currency into the market didn't depress the currency value, why was it that the announcement that the extra inflation would be coming to an end provoked an immediate increase in the value of the US dollar against other currencies?

[Ibrahim90]

Interest rates would go up, which needs to happen anyway.

what other effects are there as well? or is it just an increase in interest rates?