Is the U.S. headed toward financial ruin? Your opinions please.... (page 5)

soontobe

Enjoy the debt orgy! Sooner or later, the piper must be paid.

I don't think the rest of the world will collapse if U.S goes down. What happens if all of the countries that are carrying huge generational debt to the US just say, pft .. up yours, we aint paying, what ya gonna do ?

U.S can't even think about getting involved in another war. (they can't afford it ) the rest of the world are psst off with war. Germany want out of the Euro, U.K wants out of euro, and out of the E.U. If that happens, the whole lot will fall like dominoes. who in the EU now has money ?

Portugal, broke, Spain, broke, Greece, broke etc. Russia, minted. China, shaky. India, minted, Brazil, minted. B.R.I.C economy. Russia, they got their own oil and gas reserves. (also their people are used to suffering and going without) Iran, minted - she stands alone independently, no one gonna touch her. If Iran shuts stops oil going through, it aint getting to U.S, then what ?

If the Middle East and Arab countries stand together and Pakistan (Muslims ! ) then what. U.S can't do nothing.

Whichever countries currently have the most wealth, have the most power. simple.

U.S has a lot of enemies, not many peopleif any gonna stand by her side if the proverbial hits the fan. Can you name any that would ?

best to look at worst case scenarios, then you won't get fkd from behind.

sammielee24

WASHINGTON -- The House passed a measure Thursday that would amount to the rough equivalent of declaring bankruptcy for the United States, directing the government to meet only certain obligations if Congress failed to raise the country's borrowing limit.

Republicans characterized the measure as a responsible step to mitigate the fallout from such a failure, but Democrats slammed it as the "Pay China First Act."

The legislation, which is actually called the Full Faith and Credit Act, lacks support in the Democratic-controlled Senate, and President Barack Obama has threatened to veto it. But it passed the House 221 to 207.

If Congress does not raise the debt limit, the Full Faith and Credit Act would direct the White House to pay U.S. debts in a certain order -- to first pay people on Social Security and holders of U.S. bonds, which include many major U.S. pension funds and foreign governments, with China being the largest among them.

Other obligations, from Medicare to military benefits, would go on the backburner.

Also passed was an amendment to bar members of Congress from getting paid if the debt limit is not raised.

Numerous independent economists have mocked such a scheme as irresponsible at best, deriding it as "the financial market equivalent of that Hieronymus Bosch painting of hell" and the first step to becoming a banana republic. (Huffington Post)

Simon

Predictions by Donald Trump? Is he selling his US shares and moving elsewhere?

No, thought not ... arrogant pompous ginger windbag just trying to talk up or down the market for his own gain or political purpose.

Apparently not the illigitimate offspring of an Orangutang (if you watch Bill Mahr, LOL)

scotoma

Babylon the Great is a political entity - The United States.

Rich.

Kindom over the Kings of the earth.

Glorifies herself in shameless luxury.

The traveling merchants weep and beat themselves in grief because there is no one to buy their full stock anymore.

In one hour such great riches are devastated.

All those having boats at sea became rich by reason of her costliness.

Her traveling merchants were the top-ranking men of the earth.

lost

SIMON - LMAO

scotoma - oooh .interesting...... you got any more info for that hypothosis.

KatyMomof2

It's going to be long and slow recovery. But we ARE in a recovery! We will have our ups and downs like everyone else. Our survival is crucial to the world economy. China, Mexico and Canada need us to buy their goods. We are also the third largest exporter in the world. If we go under, they go under. We cannot, and will not fail. People just need to relax. There is no need to doomsday prep. Those people scare the crap out of me. Really, how many guns do you need for an economic collapse? I bet Glenn Beck has the answer. ( but you gotta buy his book )

5go

Sorry Katy but China does't need the USA any more as they have become self sustaining and Canada needs China to buy their goods mainly oil which is the whole Keystone pipeline thing. Even Mexico to is starting to need the US less as many imigrants are packing up and going home to make better use of the money they made in the US as it goes farther back home.

Is the U.S. headed toward financial ruin? Your opinions please....

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