There is one "absolute" in the equation. The government as we know it will collapse with the current fiscal trend, so all the lefties programs will die a very harsh death. LOL! There is absolutely no way around this fact, no tax increases at any level will ever put a dent in the disaster we have ourselves in. The federal reserve alone has the US on the hook for 25 trillion in bank float funds. It will all come crumbling down and only two things will fix this mess. Cut the size of government asap and write off all debt to federal reserve, wooosh gone in one stroke of the pen.
I believe a sudden and rapid dollar devaluation over a 3 to 6 month period will be the ultimate trigger point. It is close, and the end of this fiscal circus tent will come down.
Really? The value of the US Dollar will drop rapidly in a short time and everyones buying power will be the pain. A paycheck from a job suddenly worth 30% less, or a SSN check for an old lady suddenly worth 30% less, you should be getting the picture. The big export and oil trade deals taking place away from US Dollars, by a growing number of countries, is all the hints I need to see. The snowball is already rolling down the hill. Once enough large oil trade deals decouple from US Dollar based transactions it will get ugly and fast.
oldtime, I am talking about "buying power" of the US Dollar for the common man. The fact is, the US Dollar is only really in demand because of the ties to large oil trade transactions. Once the "need" for the US Dollar to transact large oil trade deals is gone the US Dollar is in big trouble. The US bond market will get whacked by this rapid demand destruction too. I have been reading as much as I can find, and the oil deals transacted in US Dollars has made a big shift. The trend has started now away from the US Dollar and the little old BOJ can't do anything about it.
Ultimately, you guys are all missing the big picture, which is that we need to find a way to divide the country into two separate geographic entities which reflect the two political ideologies. Then, Obamabots can worship him forever under a Constitution which allows him to be dictator for life and the rest of us can be rid of your parasitical asses forever. If I may be so bold, I suggest you choose as the name of your new country "Zimbabwe 2: Electric Boogaloo". I'm sure Obama will look very handsome on your trillion-dollar bills.
Renko, in a world economy based on fiat money you have to consider central bank policy of your trading partners as well as the policy of your own central bank. Oldtime's point, on this issue at least, is a good one. It is likely the ECB actions (buying sovereign bonds) will result in a weaker euro (once the euphoria wears off) and the dollar will strengthen relative to the euro. This will leave room for and be offset to some extent by further action from the U.S. Fed. It's a complicated world out there. Judging from what you've suggested, you seem to have been living in a cave as a hermit, totally unaware of the complexities and problems of society.
Actually, he's just another ignoramus who thinks the value of the dollar has something to do with oil. The usual crap spewed by dumbass conspiracy nuts.