SUBSIM Radio Room Forums - View Single Post - The coming 'tsunami of debt' and financial crisis in America

Armistead · 07-25-14, 09:14 AM

Well, obviously that's what we do in America, sustain ourselves with more debt and spending. If not for debt and spending our economy would splat fast. I would say the majority of friends and people I know look like they're doing OK, but mass amounts of debt, simply.....no savings, living week to week the upper middle class life.

As the article explains, with inflation and income inequality, the bubble is going to burst. We keep adding trillions to debt, no way the rich can pay it back.

We need a major correction, simply a bust, instead of creating a higher wave with spending.

07-25-14, 09:14 AM	#4
Armistead Rear Admiral Join Date: Dec 2008 Location: on the Dan Posts: 10,880 Downloads: 364 Uploads: 0	Well, obviously that's what we do in America, sustain ourselves with more debt and spending. If not for debt and spending our economy would splat fast. I would say the majority of friends and people I know look like they're doing OK, but mass amounts of debt, simply.....no savings, living week to week the upper middle class life. As the article explains, with inflation and income inequality, the bubble is going to burst. We keep adding trillions to debt, no way the rich can pay it back. We need a major correction, simply a bust, instead of creating a higher wave with spending. __________________ You see my dog don't like people laughing. He gets the crazy idea you're laughing at him. Now if you apologize like I know you're going to, I might convince him that you really didn't mean it.