Asking the million dollar questions...

[Skybird]

Originally Posted by jimbuna

I enjoyed the video link but it is rather worrying for our offspring don't tou think?

I don't understand the question.

[Jimbuna]

Originally Posted by Skybird

I don't understand the question.

The cuts in spending and the tighter measures that will be needed allied to possible tax rises and whatever else the politicians deem necessary will surely have an impact on the future adult generation/tax payers.....namely our offspring/children.

[Schroeder]

Originally Posted by jimbuna

The cuts in spending and the tighter measures that will be needed allied to possible tax rises and whatever else the politicians deem necessary will surely have an impact on the future adult generation/tax payers.....namely our offspring/children.

Wasn't that always the plan to begin with?
Borrowing money left and right and leave it to our children's children to pay it back.
I believe every western country has been using this "strategy" for the last 40 odd years.
Unfortunately it seems we borrowed faster than our offspring could grow and now our spending is catching up with us and we have to pay the bill ourselves anyway.

[Jimbuna]

Originally Posted by Schroeder

Wasn't that always the plan to begin with?
Borrowing money left and right and leave it to our children's children to pay it back.
I believe every western country has been using this "strategy" for the last 40 odd years.
Unfortunately it seems we borrowed faster than our offspring could grow and now our spending is catching up with us and we have to pay the bill ourselves anyway.

Yeah, but the upward spiral of debt was always manageable without requiring the drastic measures that are now being voiced (I'm talking in terms of the UK here).

What we have now are unprecedented levels of debt...so bad that we are now spending more on debt/interest repayments than we currently spend on for example, defence.

[Diopos]

Or we could just go for the next war ...
Let me see... mmmm ....
Korean Torpedoes ....
Iranian uranium ...
War against terrorism part II ...
Unrest in the Ukrain ...
Another Balkan crisis ....



.

[Skybird]

http://www.briefing.com/GeneralConte...headOfTheCurve

The conclusions I already see as optimistic, but primarily I post this for the numbers and tables anyway.

I also remind of that Moody earlier this year warned that America's triple-A rating is no longer to be taken for granted, and that China has massively cut the ammount of dollars and US bonds that it buys - they do not want it that much anymore since the alarm bells went off in Europe, since they risk to loose their own wealth when they stick to the dollar - that's the thing they have realised since some months now.

Read the signs.

You will not believe it, Lance. But you see, I have occasionally pointed out these trends since I met this forum roughly ten years ago. It will not be another ten years before we know the outcome for sure.

Originally Posted by Schroeder

Wasn't that always the plan to begin with?
Borrowing money left and right and leave it to our children's children to pay it back.
I believe every western country has been using this "strategy" for the last 40 odd years.
Unfortunately it seems we borrowed faster than our offspring could grow and now our spending is catching up with us and we have to pay the bill ourselves anyway.

This is what I see as the collapse of socialism (both sides of The Atlantic).

The baby boomers are coming up to retirement age now, and the system(s) simply can't afford it. The political class are trying to offset this with mass immigration, but the resourses of the land can no longer even sustaine the current populations. Thus a population decrease, as dictated by nature. The longer the political class hold on to their power-base (socialism), the more long term damage they do to their own people.