I'll post this in economics, que sera sera. No shortage of negative news about the US economy. There seems to be plenty of opinons that everything is going wrong and the demise of the US is around the corner. My question is how do we wring out every last dime out of our economy and trash it? What might be the last straw that breaks the camels back, so to speak? Will it ever happen? Can it be done? Is it possible to take our country to the brink of economic destruction? Comments?
Kinda reminds me of 2005-2007. Leaks were coming out about the housing bubble early on which only grew stronger. Everyone new it was gonna fail but of course, profiting from it is whole different story. I had a bit of an inside track being a contractor which was we had unprecedented growth from 2000 on. There was a labor shortage and as a worker, you could work seven days a week if you wanted. But we all new this wouldn't and couldn't last... if there's a true cyclic industry, construction is in the front of the line. Anyways, to make a long story shorted, I shorted the market too early, with too much leverage. When the plunge finally came, I was out of bullets... my wad was shot as prematurely as a zit-faced 15 year old who's scrambled Spice Channel just came into view (I lifted this). So, I was way more wrong than right. The shitstorm is probably coming, but only the smart/well capitalized and lucky will survive... as usual. IMHO.
Sorry, I never really answered your question. I'm very much not a conspiracy nut however, just what if for shits and giggles, that the powers that be (...ugh...) are making a concerted effort to sabotage a blackman's reign in White House -by bringing the US to it's knees- that it would be another 200 years before any minority got into the White House again? I may not agree with Obama's political shenanigans, but I also don't dislike the guy either.
I'm just wondering if GM would be a good analogy. "What's good for GM is good for the country". Would the fall of GM offer us a look into the future of the US economy? Sparing myself from rehashing the details of everything that went wrong with GM, the bottom line the Fed bailed them out. Who bails out the US? The Fed can print money, what are the signs that this process just won't work? The politicians in some respect are asking for money from DC for the states with the same cavaliar attitude as GM CEO's flying into washington on private jets.
Bearice actually sent me quite a good post recently about the companies most affected by the government. He asked me to post it I decided not to due to his lack of favour at the moment. Does anyone want me to post it?
US will default and restructure debt. After the politicians are done grandstanding the US will continue to print $ and add to debt for as long as the $ remains the reserve currency. When the $ gets dropped the game is over.
True: Seems like anyone that challenges the $ is made a national enemy. Saddam: Iraq Gaddafi: Libya Strause-Khan: IMF Even web payment systems like e-gold and others that act outside of our Govt's ability to monitor and control get crushed through litigation.
I am thinking more the effect of default could cause a war with China. Or perhaps the persuit of the resources to keep the US going. For example Venezuala.