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.

Alex · 07-25-14, 07:17 PM

Quote:

Originally Posted by Armistead

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

Get ready.

Opinions welcome.

And that brings us to the Ukrainian problem...

What the hell happened with Ukraine recently, damn, it's been a poor land the West didn't care about so far, and suddenly it gets to be the focus of everyone worldwide. Why ?

.

Oberon · 07-25-14, 08:46 PM

Quote:

Originally Posted by Alex

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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: 191,265 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, 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.