America down the toilet

Discussion in 'Chit Chat' started by bat1, Jul 1, 2008.

  1. bat1


    hate to say it,

    however the way things are looking America will
    be a 3rd world country very soon

    Is America a leader in anything anymore?

    GM is now a 10.00 stock from 43

    our dollar is near worthless even IRAN won't
    accept our money anymore for oil

    Considering that Iran has switched to the euro for its oil payments from E.U. and ACU customers, it would be logical to assume the proposed Iranian Bourse will usher in a fourth crude oil marker – denominated in the euro currency. Such a development would remove the main technical obstacle for a broad-based petroeuro system for international oil trades. From a purely economic and monetary perspective, a petroeuro system is a logical development given that the European Union imports more oil from OPEC producers than does the U.S., and the E.U. accounts for 45% of imports into the Middle East (2002 data).

    Acknowledging that many of the oil contracts for Iran and Saudi Arabia are linked to the United Kingdom’s Brent crude marker, the Iranian bourse could create a significant shift in the flow of international commerce into the Middle East. If Iran’s bourse becomes a successful alternative for oil trades, it would challenge the hegemony currently enjoyed by the financial centers in both London (IPE) and New York (NYMEX), a factor not overlooked in the following article:

    "Iran is to launch an oil trading market for Middle East and OPEC producers that could threaten the supremacy of London's International Petroleum Exchange."

    "…He [Mr. Asemipour] played down the dangers that the new exchange could eventually pose for the IPE or Nymex, saying he hoped they might be able to cooperate in some way."

    "…Some industry experts have warned the Iranians and other OPEC producers that western exchanges are controlled by big financial and oil corporations, which have a vested interest in market volatility.
  2. Yes, in pessimism.
  3. AWill


    You can't expect to be a prosperous nation with various classes of wealth.

    I mean, the super rich, rich, middle class, low middle class, and poor......etc etc

    The very-super rich and the masses sounds like the ideal two class system that America is leading toward.

    I feel very sorry for all the middle class families and households who can't cope with the burden that's being imposed on them by increasing energy costs, high gas prices at the pump, little job opportunities, and the lack in job security. Rest assured that we're all in the same boat, and times are only going to get worse.

    It's all part of the motto. The Powers To Be don't want this multiple class system anymore, and they're determined to have it their way. They are God.

    God Bless. :(
  4. piezoe


    I would not agree that the state of the US economy has much if anything to do with a conscious effort by the "powers that be." Rather I would say that the US is simply following a natural course of events that may be expected and is entirely consistent with human nature, which as Malcolm Muggeridge said, "is driven by vanity, greed and instinct."

    When institutions and societies decay they often began the process internally, and it takes many years to reach a point were the decay is externally noticeable. One might say that the reputation of a nation or society tends to live far longer than can be justified by reality. And after that, it takes many, many more years, perhaps even centuries, to decay away, or to morph into something entirely different. I would think the US is just barely at the stage were it has become rather obvious to the many, rather than the few, that something is seriously wrong.

    This rather deep recession that we are entering is just a step along the long path to self-destruction. We have many good years left before the final hour. but it is clear that we have past the crest and are on the long downhill slope.

    The European economy is now the world's dominate economy and will dominate the early part of the 21st Century, to be eventually overtaken or at least joined as co-equal partners by China and perhaps later India, indonesia and even Central and South America. The US will never again dominate the world's economies as it did in the latter half of the 20th Century.
  5. You can't expect to be a prosperous nation without a large and growing middle class.

    Who do you think buys 80% of the shit made and sold, whether services or goods?

    Using that one measure - whether the middle class is large (as a % of total population), and whether it's growing - you can pretty much surmise the health of that nation's economy.

    If the country is developing, as long as the middle class is growing at a healthy rate, things are looking good.
  6. Tums


    The Chinese subprime is making news... China might join US soon.
  7. G-Boa


    Let me ask the audience this: if the world went into a global recession....U.S., Europe, China, India, Brazil, etc. where the fuc would you guys rather be??

    For me it's the United States.

    If America is "down the toilet" then the world is completely fuct!!
  8. The flaw in your logic is that while yes, the rest of the world will suffer if we do,
    their standards of living will rise much more substantially, on a relative basis, as compared to how much ours will fall...

    Soon, the people who were wiping their arses with their left hands only 50 years ago will now be using soft Cottonelle..

    I call that marked relative improvement...
  9. The rest of the world becomes less reliant on the U.S. with each passing year.

    Decoupling may be an overstatement, but decreasing reliance is not.

    I'm not saying a U.S. crash wouldn't crash global markets right now; it would.

    Maybe not in 20 years, however, depending on what kind of political and economic leadership we have in the future.
  10. than you don't want to stuck with shares you can't sell see your shares drop 80% in value in any country.

    #10     Jul 2, 2008