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sailingsoul
SFN Addict
2830 Posts |
 Posted - 05/29/2011 : 18:44:38
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Am I the only one around here that is fearful that America is like an out of control Mega Freighter, steering a course to a pending financial collapse?
I'm talking about all the money the fed is printing and the past 9 years explosion of the US debt, relative to it's GDP. It's growing in clicks of trillions. Any government with an out of control deficits that grows exponentially, which is occurring, eventually collapse. Contrary to what most Americans believe, America's really doesn't have a God protecting it. Today the US dollar is the world's reserve currency and that could end in the near future. I fear it is more likely than almost all Americans realize. Especially how it's a currency that is backed by NOTHING, Nada, Zilch. The biggest thing going for the Dollar is that world oil is priced in dollars. If that starts to change look out, harder time than we have ever seen are around the corner. I am genuinely concerned. IMO Americans who are not genuinely concerned and understand this linear graph showing "the US Federal Outlay and GDP" possibly could be more deluded about their future than any recent rapture believer. Only time will tell. SS
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There are only two types of religious people, the deceivers and the deceived. SS |
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marfknox
SFN Die Hard
USA
3739 Posts |
Posted - 05/29/2011 : 18:53:19 [Permalink]
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| SS, while I believe we are on a steady decline, the idea that we're heading toward some sort of sudden collapse is a little paranoid IMHO. There are a lot of factors involved; it isn't as if the U.S. economy is based on one thing that could be ripped out from under us. Also, we have a relationship with the other nations of the world, and while I'm sure plenty of other countries would love to see us fall, they don't want that to happen at the expense of their own economies. Americans are now beginning to spend less on credit and save more, and the concerns you have expressed about the government's actions are echoed by many Americans. I think we'll keep heading in the direction of a slow, steady decline and when things get bad enough we'll see some major reforms one at a time, and eventually we won't be the world power that we are today, but that hardly means that we'll be ruined or that American citizens will be living like paupers. Certain western European nations aren't the world powers they were in the past but they still have pretty high standards of living. I'd say relax, try your best to prioritize fiscal responsibility in your personal affairs, and advocate for government and social reforms that will lead to the build up of American infrastructure and creation of new, sustainable jobs in this country. |
"Too much certainty and clarity could lead to cruel intolerance" -Karen Armstrong
Check out my art store: http://www.marfknox.etsy.com
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sailingsoul
SFN Addict
2830 Posts |
Posted - 05/30/2011 : 09:27:47 [Permalink]
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Originally posted by marfknox
SS, while I believe we are on a steady decline, the idea that we're heading toward some sort of sudden collapse is a little paranoid IMHO. |
Thank you marfknox, that makes me feel better. That I'm not being perceived as overly paranoid  but only a little :). You might be right, from your vantage point it may appear I'm being a little paranoid. I do agree there is no need to be like that bearded man walking down the sidewalk with a billboard reading "Repent! The End is Near". I would never advocate for anyone to repent, that would be a waste of valuable time. If I was ever to go that far, My billboard would say "Let's Party! The End is Near" .
Perhaps my description of the Mega Freighter 'steering a course' conveyed the impression of a collision ahead. That is not my intention. I was trying to point out the real trend visualized in the graph. Let me change that to, think of that Mega Freighter, the US, with it's taking on more debt, as a ship taking on water, an increasing load. The weight of our increasing debt has it's limits the same as a ship taking on water. Based on a percentage of GDP which is not growing in kind enough. Very large ships can sink, slowly but sink they do, when they take on to much weight.
| There are a lot of factors involved; it isn't as if the U.S. economy is based on one thing that could be ripped out from under us. Also, we have a relationship with the other nations of the world, and while I'm sure plenty of other countries would love to see us fall, they don't want that to happen at the expense of their own economies. Americans are now beginning to spend less on credit and save more, and the concerns you have expressed about the government's actions are echoed by many Americans. |
Absolutely, I agree and have no argument with Americans are saving more.
"
On average, individuals saved 1.7 percent of their disposable income in 2007, upping that to 2.7 percent the next year and 4.2 percent in 2009.
In the second quarter of 2009, individual savings rose to 5.4 percent of their income — the highest quarterly savings rate since the second quarter of 1998."
I wonder if that includes the super riches' savings too. What else are they to do with all the wealth their accumulating at an increasing rate. I wonder what the lowest, say, 75% of of the population's savings rate is. It could be good. All we can address is our individual savings rates. Because money in the bank could buy significantly less when Hyper-inflation occurs, I suggest some assets should be in dry food goods. Like powered milk for families with babies and young children should milk prices jump or become unavailable for a while. A $1,000. or 2 in a well stocked pantry, for me, gives much more protection than a $1,000. in the bank. Acquiring both and more before it's needed is desirable. Again, the best time to do it is 'before'. Stored food frees up cash for other needs in hand times. Like the loss of income.
| I think we'll keep heading in the direction of a slow, steady decline and when things get bad enough we'll see some major reforms one at a time, and eventually we won't be the world power that we are today, but that hardly means that we'll be ruined or that American citizens will be living like paupers. Certain western European nations aren't the world powers they were in the past but they still have pretty high standards of living. |
Your not thinking that from the graph are you? I can't. I just might have a tendency to be a bit more concerned with news of pending negative consequences. Take Japan's reactor problem. Right after the sunami I was overly concerned that the outcome could be a meltdown. Well there was and I'm just fine. What's the big deal, right? I would be less concerned if the ratio of Debt/GDP was decreasing, not increasing as it is and is projected. Granted trends do not predict. What does the graph indicate the recent past was and trend is, to you?
Good advice. Really. Stressing out servers no good purpose.| try your best to prioritize fiscal responsibility in your personal affairs, |
That is my intention and suggestion too. I agree everyone should do the same.
and advocate for government and social reforms that will lead to the build up of American infrastructure and creation of new, sustainable jobs in this country.
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As we always should be doing. SS |
There are only two types of religious people, the deceivers and the deceived. SS |
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Concerned for America's Economic Future
