Financial ruin no. We will just have to adjust to live with less because other countries want their piece of the pie, which we have enjoyed and taken for granted for so long. The U.S. will still be one of the best places to live.
Is the U.S. headed toward financial ruin? Your opinions please....
by tresdecu 47 Replies latest jw friends
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Aussie Oz
I would say most governments are bankrupt already, trading while insolvent, borrowing more than they can can repay. One day the creditors will come calling... I read an interesting report the other day, that outlined that most if not all civilizations have a life span of 250 years on average It is niave to think that our current crop of 'civilization' should last longer than any other. Sooner or later we will be taken over by another, wiped out or assimilated... By whom? Thats a matter for much conjecture i guess! Oz
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*lost*
AA that sounds very interesting. Any more info on that ? where to find article.
Slash that clock is amazing.
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MrFreeze
The US has become a Plutocracy. That usually does not bode well for the little guy.
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*lost*
ooooh ..... the ''anti-christ'' ???
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Band on the Run
No way. If the US failed, all countries around the globe would fail. Reading colonial and American history, citizens have been terrified of imminent collapse since the first settlements. It never actually happens. Our military alone give pause for thought. We have immense reserves at the IMF and World Bank. Our "enemies" retain dollars, not only b/c our financial sheets but b/c we are a stable country.
Periodic highs and lows are a feature of all economies. There are a host of market regulation features.
My pet grieve is that the very year of the financial rescue, the CEOS of the immense banks had no shame. They were definitely at fault and ordinary people had to rescue them massively. I am not to big to fail. The US gained little regulatory power for the massive injections of cash. Before I worked in the financial district of NY, I had no clue how much money flows through in a second. Now I have a clue but beyond my salary I see monopoly money.
Part of the post WWII reconstruction enabled the US to dictate very favorable control terms. Other countires may hate us but we are a nation of vast resources. We are not Holland or Timbuktu. Other countries want our currency to be stable and valuable b/c they are so committed.
So we extracted all this power from giant powers in bad shape after the war. There is no excuse for Congress not to extract promises and performance criteria from the huge banks. The worst part of defending corporations is to deal with government lawyers. They are so to represent me as a private person. Most govt lawyers aren't even on the job. It is depressing. The year of the corporate welfare galore, Cartier, Tiffany's, luxury car deals (not Mercedes but Ferraris, Rolls Royce, and Lamborghinis did record business. Obscene bonuses were paid to the executives. No one will intervene if I am short a dime.
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Jomavrick
While some prefer the Ostrich approach to the conditions of our economy and the world economy. There are several realities that cannot be ignored in the long term. The blitzkrieg of deficit spending by this AND previous administrations will reach critical mass at some point and the consequences will be - (insert here). I know the current state of printing money will also have consequences. It's all very rosie on the surface now as the dow keeps going up past 15,000, but the fact is that with more taxes looming, the giant Healthcare debacle that will hit Americans and Companies in 2014, eventually interest rates will rise and there will be a perfect storm hit this country.
The truth is we all allowed this to happen by tolerating politicians on both sides of the isle who were blatantly wreckless with our money and created self destructive policies. Just remember the cartoon " We have met the enemy and it is us"
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WTWizard
It was as good as ruined in 1913 when the Fed forced its way into printing our currency. It was as good as ruined as soon as philo-Semite Nixon took us off the gold standard in 1971, setting the stage for our dollar to become toilet paper (not to mention helping Isra-HELL in October 1973, triggering an energy crisis which further trashed us financially). And now, we have the Fed printing toilet papers so they can buy the stock market, dummying it up so it looks like everything is fine.
This country is in for hyperinflation--the longer it takes to materialize, the worse it will be. If nothing is done, it should happen within a month. If they manage to play games, a year, two years, who knows how many years--but it will be much worse when it does happen. And I have been using the delay to buy more silver--the longer they take fiddling around, the more silver I will be holding and the more each ounce will be worth when the full force of the silver shortage hits.
Also, I think we are at high risk for another 1973-style energy crisis, worse even than that one was. All it takes is for the United Tyranny of Stupidity to side with Isra-HELL on the Syria issue as they did back then, and OPEC could get pxxxed enough to cut off the oil like they did in 1973. Between that and regulating domestic energy production out of business, I believe we are in for a super whopper of an energy crisis--and I have been using the delay before hyperinflation to buy emergency lighting supplies (flashlights, batteries, and chargers) and LED light bulbs. Nothing like using just 7 watts to light up the place for general illumination and maybe another 12 for task lighting, when everyone else is whining about their electricity usage.
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sir82
If nothing is done, it should happen within a month.
Since your money will be worthless in a month, why not send it to me?
And I have been using the delay to buy more silver
Poor blighter. You've lost 30% of the value of your investment in the past 6 months. Silver is now at its October 2010 price.