The coming 'tsunami of debt' and financial crisis in America

Armistead · 07-25-14, 08:16 AM

Get ready.

http://www.theguardian.com/money/201...s-corporations

Opinions welcome, debating elsewhere.

Dread Knot · 07-25-14, 08:49 AM

My opinion is to invest in one of those overseas factories that crank out the Guy Fawkes masks.

Oberon · 07-25-14, 09:08 AM

Opinion on

Personally I think that the tsunami will just keep getting pushed back, and the wave will keep getting higher. Perhaps eventually there will be a great crash and half of the world will be wrecked and the other half badly damaged. Or perhaps there will be found a way to dodge the bullet through clever manoeuvring and legal wrangling. Maybe America will sell Alaska back to Russia? Then Sarah Palin can finally meet Putin.

Still, this is the price for 'winning' the Cold War, the Soviet Union ran out of money first, but America will pay the price of hegemony later. All great nations rise and fall, Western Europe lost its dominance in two World Wars, the Middle East in several crusades and internal infighting, Rome through a century of crisis.
America will survive, but there will be a lot of changes, and there are large groups of people in America who are not very good with change, and they are not going to like this one bit. C'est la vie.

Opinion off

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.

Oberon · 07-25-14, 09:26 AM

The snag is the correction would surely involve a massive change in the American way of life, and that's not something that's going to come easily in a nation that's as politically and socially divided as America.

Jimbuna · 07-25-14, 09:37 AM

Who cares? What difference can the voter make?

Just keep printing the money notes and pray the bubble bursts long after you vacate the earth.

Armistead · 07-25-14, 10:02 AM

Quote:

Originally Posted by Jimbuna

Who cares? What difference can the voter make?

Just keep printing the money notes and pray the bubble bursts long after you vacate the earth.

but, what about the children...

Jimbuna · 07-25-14, 10:13 AM

Quote:

Originally Posted by Armistead

but, what about the children...

They'll have to get by like I did when my parents passed away (well my father anyways)

Dread Knot · 07-25-14, 10:19 AM

Quote:

Originally Posted by Jimbuna

Who cares? What difference can the voter make?

Just keep printing the money notes and pray the bubble bursts long after you vacate the earth.

I've heard this refrain among a lot of aging, childless Baby Boomers here in the States. They lament getting old, but seem to savor the fact that they might not be around for the coming Fall of Rome Part Deux. I'm sure the kids today don't appreciate the enjoy-the-dystopia we'll be leaving you attitude.

Hope none of these Boomers are planning on a proper grave with a headstone. Might end being used fondly for target practice.

Armistead · 07-25-14, 11:01 AM

http://rt.com/usa/166352-us-total-debt-sixty-trillion/

I'm not so sure SS and Medicare is included in this debt as far as unfunded debt, which amounts to 48-222 trillion depending on which numbers you choose..

Skybird · 07-25-14, 11:15 AM

Paper money is the same trick that before was used by governments and kings when they secretly reduced the content of silver in coins to mint more coins. Sometimes the real amount of silver in silver coio9ns was pushed below 10%.

Such systems want to spend more than they can afford.

The events will go the unavoidable way. The people will suffer what they must, well-deserved - they allowed their masters to run this crime. Everybody is a complice in this crime, everybody wants to live with his hands in other people's pockets.

No pity from me. It's Karma - the inescapable link between cause and effect. It's not about pity, it's about justice.

STEED · 07-25-14, 12:25 PM

Quote:

Originally Posted by Jimbuna

Just keep printing the money notes

Jim your killing me...

That's not money that's I.O.U bull dung sold to the masses and 99% bought it.

I'm the 1% and see it for what it is, worthless.

Oberon · 07-25-14, 12:30 PM

Quote:

Originally Posted by STEED

Jim your killing me...

That's not money that's I.O.U bull dung sold to the masses and 99% bought it.

I'm the 1% and see it for what it is, worthless.

Feel free to pass all of your worthless notes to me then if you don't want them.

I'll find a good home for them.

STEED · 07-25-14, 12:35 PM

Quote:

Originally Posted by Oberon

Feel free to pass all of your worthless notes to me then if you don't want them.

I'll find a good home for them.

Sure, running out of toilet paper.

TarJak · 07-25-14, 01:27 PM

Just give up on democratic government and corporatise the lot.

07-25-14, 08:16 AM	#1
Armistead Rear Admiral Join Date: Dec 2008 Location: on the Dan Posts: 10,880 Downloads: 364 Uploads: 0	The coming 'tsunami of debt' and financial crisis in America Get ready. http://www.theguardian.com/money/201...s-corporations Opinions welcome, debating elsewhere. __________________ 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.

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.

07-25-14, 09:37 AM	#6
Jimbuna Chief of the Boat Join Date: Feb 2006 Location: 250 metres below the surface Posts: 190,525 Downloads: 63 Uploads: 13	Who cares? What difference can the voter make? Just keep printing the money notes and pray the bubble bursts long after you vacate the earth. __________________ Wise men speak because they have something to say; Fools because they have to say something. Oh my God, not again!!

07-25-14, 11:01 AM	#10
Armistead Rear Admiral Join Date: Dec 2008 Location: on the Dan Posts: 10,880 Downloads: 364 Uploads: 0	http://rt.com/usa/166352-us-total-debt-sixty-trillion/ I'm not so sure SS and Medicare is included in this debt as far as unfunded debt, which amounts to 48-222 trillion depending on which numbers you choose.. __________________ 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.

07-25-14, 11:15 AM	#11
Skybird Soaring Join Date: Sep 2001 Location: the mental asylum named Germany Posts: 42,615 Downloads: 10 Uploads: 0	Paper money is the same trick that before was used by governments and kings when they secretly reduced the content of silver in coins to mint more coins. Sometimes the real amount of silver in silver coio9ns was pushed below 10%. Such systems want to spend more than they can afford. The events will go the unavoidable way. The people will suffer what they must, well-deserved - they allowed their masters to run this crime. Everybody is a complice in this crime, everybody wants to live with his hands in other people's pockets. No pity from me. It's Karma - the inescapable link between cause and effect. It's not about pity, it's about justice. __________________ If you feel nuts, consult an expert.

07-25-14, 08:49 AM	#2
Dread Knot Ace of the Deep Join Date: Mar 2007 Posts: 1,288 Downloads: 85 Uploads: 0	My opinion is to invest in one of those overseas factories that crank out the Guy Fawkes masks.

07-25-14, 09:08 AM	#3
Oberon Lucky Jack Join Date: Jul 2002 Posts: 25,976 Downloads: 61 Uploads: 20	Opinion on Personally I think that the tsunami will just keep getting pushed back, and the wave will keep getting higher. Perhaps eventually there will be a great crash and half of the world will be wrecked and the other half badly damaged. Or perhaps there will be found a way to dodge the bullet through clever manoeuvring and legal wrangling. Maybe America will sell Alaska back to Russia? Then Sarah Palin can finally meet Putin. Still, this is the price for 'winning' the Cold War, the Soviet Union ran out of money first, but America will pay the price of hegemony later. All great nations rise and fall, Western Europe lost its dominance in two World Wars, the Middle East in several crusades and internal infighting, Rome through a century of crisis. America will survive, but there will be a lot of changes, and there are large groups of people in America who are not very good with change, and they are not going to like this one bit. C'est la vie. Opinion off

07-25-14, 09:26 AM	#5
Oberon Lucky Jack Join Date: Jul 2002 Posts: 25,976 Downloads: 61 Uploads: 20	The snag is the correction would surely involve a massive change in the American way of life, and that's not something that's going to come easily in a nation that's as politically and socially divided as America.

07-25-14, 01:27 PM	#15
TarJak Fleet Admiral Join Date: Jul 2006 Location: Sydney, Australia Posts: 17,052 Downloads: 150 Uploads: 8	Just give up on democratic government and corporatise the lot.