This is some guy who wrote in to the The Guardian’s online message board and I can’t figure out if he’s full of crap (all the conspiracy stuff) or dead on that we’re dead as a viable economic entity. Read the entire thing which lists a remarkable number of what sound like plausible factors causing the dollar’s meltdown and tell me if he’s nuts or if I should be working on moving to a different country before it’s too late.
I said some time ago, the west collapse is numbered in months, not years. I was of course wrong. The end is numbered in weeks, not months. So a bit of a correction is in order. It’s basically no xmas for the yanks.
Like all systems, once thrown off balance, it proceeds exponentially, not linearly. Once the balance exceeds the damping factors, which are typically all controllable by the state economy dictators, it’s no longer just oscillation, or in econ terms “recession”, “depression” or any other cyclical phenomena caused by the nature of masturbating with the typical gov’t inputs like the price of money, bond issues, yields, capitalisation, inflation, employment, market tax and laws.
Once it goes, it goes, just like any chain reaction. And from there on, the system either converges to some steady state point, which could easily be the re-assessment of the west’s collective worth and devaluation of its money accordingly or it diverges going completely off the scale.
Found by Don
Good rant, but just another no-facts opinion of a US hater.
Feh… Life is hard, people borrow too much, the economy is in pain, the Dow will continue to adjust downward… but the sky is NOT falling. Thank you, Chicken Little, for making another appearance. We have missed you. Now go back to your dungeon.
Were heading to a big fall, but definitely not before christmas
News from Nov 7th:
http://www.reuters.com/article/bondsNews/idUSN0754579020071107
“In approving the debt limit increase, Congressional lawmakers said the $850 billion increase should be large enough to allow the government to continue borrowing into 2009, well beyond next year’s presidential and congressional elections.”
The U.S. debt at the start of GWB presidency: $5.6 trillion
Last approved limit: $9.8 trillion
I put this right up there with the global warming nuts jobs who say half the land masses will be flooded in 100 years, or is it 50 now, I forget.
Amusing on how “everyone” has to agree on the trendlines==but no one admits to the end point?
Or, I guess, “everyone” is trusting Hilliary to clean up the mess????
Higher Taxes, Inflation, Decreasing Dollar Value, and jobs outsourced===trend lines have been extablished over the years, but nothing bad is going to happen eh?
“The wars the US has instigated as a economy security measure have murdered some 20-25M people just since WWII destroying 68 nations around the globe.”
geez, only 68? we have a lot of work left to do …
#1. I wouldn’t even say it was a good rant – just a stream of apocalyptic gibberish.
“its currency monopoly designed by papa Bush and the Saudi house in the early 70s. ”
Anyone who thinks that ‘papa Bush’ in his pre White House days was anything more than an almost-stereotypical GOP corporate/political hack (like Cheney, Rumsfeld) is kidding themselves. his only contribution to macroeconomics was the memorable phrase ‘voodoo economics’ to describe Reaganism.
and I hate to tell those licking their chops at the prospect of a US economic collapse – the US goes down, the rest of the world goes with it.
It’s gonna happen but deliberately staged to happen in January 2009.
The GOP plan is to keep our economy resuscitated (with more borrowing) for now and finally pull the plug by around summer of next year. In that way, when Hillary takes over, it will be too late to avert the economy from plunging into severe depression and, well , you know the rest.
It’s part of the GOP plan to do anything to regain control after Hillary since we all know the GOP brand is fucked up because of a really bad product (George W).
So, that’s why rich yanks are buying up propery over here. Rats leaving the ship. I’m just glad I’m holding euro’s
Dam. forgot the “t”
wasnt there a budget surplus of like 6 trillion under Prez. Clinton?
dont we now need 2 billion for foreign investments (aka loans) daily just to keep the govt afloat?
The writing is on the wall…
see, I remember back in the 80s when the deficit was going to kill off the economy, and it was the Japanese and the Germans, not the Chinese and the Russians, that were going to eat America’s lunch.
The next time the Germans attack the Brits, we’re not going over there to bail them out. Let them learn to eat sauerkraut.
I think the biggest problem with the article is that it assumes that the American economy can fall without bringing the rest of the west down with it, which I am not so sure that 270 million or so of the world biggest consumers could be in a collapsing economy that Europe etc would be able to recover from. Is the US falls, the rest of us are going down with you!
Jim Smith The next time the Germans attack the Brits, we’re not going over there to bail them out. Let them learn to eat sauerkraut.
Took you long enough to muck in last time… and if it wasn’t for the Russians we’d probably already be eating sauerkraut.
Exactly. Those with schadenfreude have to keep in mind that an economic fall of the u.s. will affect the EU and the entire globe not just u.s. itself.
I heard Bill Gates has invested close to a third of his assets in silver and gold, maybe I should do the same.
I’m glad to see that most of you aren’t fooled by that rubbish. The pendulum swings both ways. The US will adapt, more money will be spent at home, leadership will change, twiddle dee, twiddle dum.
Money trades like stock and is valued like stock. When it’s overvalued the balloon eventually gets popped and then the shareholders get all in a frenzy and oversell. I’ve been looking at the dollar from a purely technical view. The recent downturn left large gapes in trading ranges and sure enough, all of them were filled by temporary “recoveries” before the next leg of the downtrend. Exactly like stocks behave.
The USA is a big MF company. It’s having a bad year or two, but it could never go under. Investors are waiting (without any emotion whatsoever) for the right moment to jump back in. Your dollar will stabilize at an inflated price based on future performance, once Bush is out on his ass. It’s really no more complicated than that. Monetary policy, housing starts and the like is for daytraders.
That was a big bowl of tinfoil bullshit with a few bits of truth sprinkled on top. Still tastes the same.
How much food and oil does the U.K. import?
#18 – I heard Bill Gates has invested close to a third of his assets in silver and gold, maybe I should do the same.
Being more optimistic, I’m putting my money into canned foods and shotgun shells.
“Tallwookie”, the so called surplus under Clinton was actually going into debt slower, not a reduction of debt.
Even that might not be accurate, considering the creative accounting the Clinton administration was using.
Slight change of subject: I know, people are tired of hearing about Social Security, but the Social Security obligation is not considered a national debt. Why? Because Congress can decide to not pay it. Businesses cannot pull that crap with their retirement accounts, but the fedgov can.
That’s a bipartisan problem, just as the earmarks are. How many here are tracking that corrupt practice? Anyone? The Democrats promised an end to the Culture of Corruption, didn’t they? Where is it?
22. Thats probably much more practical. Invest in Spam!
Despite new theories, the basic laws of economics have never changed. As many have discovered, if you run up a credit while living above your means, eventually you’ll eventually pay dearly. This goes for governments as well. Read about the causes of the Great Depression, and previous ones.
This is a typical rant by Britons who like to to think of themselves as on the moral highground when it comes to the US. The Guardian is full of pompous Brits who have an unhealthy obsession with the US whilst their own country is going down the tubes.
With any luck, Yellowstone will blow first.
With any luck indeed!
Keep your eyes on Greenspan and see what he is doing in the coming months. It’s partially his baby.
Jeeze. Those Euro-weenies and Arab hate mongers love singing about how the US is over and going to collapse and become on non entity “read soon now”.
Yea. Right.
260 million people, the largest economy in the world, the largest military in the world, and 800 pound gorilla in almost every measure is just gonna disappear overnight and no one is gonna notice.
We have 260 million heavily armed, hyper-productive, highly motivated, technically innovative, wealthy (when compare to the rest of the world), and frankly flexible citizens. We are in a country that has access to both of the planet’s major oceans, access to markets around the world, and is rich in natural resources. The country itself is safe and has zero chance of being invaded by any nation on earth who so desires to be so foolish.
Please. If the US goes down, the rest of the world is going with it. It ain’t gonna happen. We’ve been in worse places before and we are still here.