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Thread: Doomsday warnings of US apocalypse gain ground

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    Doomsday warnings of US apocalypse gain ground

    WASHINGTON (AFP) – Economists peddling dire warnings that the world's number one economy is on the brink of collapse, amid high rates of unemployment and a spiraling public deficit, are flourishing here.


    The guru of this doomsday line of thinking may be economist Nouriel Roubini, thrust into the forefront after predicting the chaos wrought by the subprime mortgage crisis and the collapse of the housing bubble.


    "The US has run out of bullets," Roubini told an economic forum in Italy earlier this month. "Any shock at this point can tip you back into recession."
    What's so surprising about this? I have been saying this for years now, ever since Clinton signed the Gramm-Bliley bill into law. It's coming, folks. How it ends is up to us. We can come out of this better than we were before, if we do the right things, and I believe we will. Here is how I believe it will play out:

    1) First, we will end up defaulting on our debt. There is no way to prevent this. We do NOT have the resources to be able to ever pay back our debt. Our crisis is going to become the world's crisis, but those who will suffer most, economically, will be the banksters, whose only wealth is on nothing but paper, which was created from all this debt, and not much else.

    2) Heads are REALLY going to roll in Washington, and whoever replaces them will rebuild America's economic policies on sane foundations.

    3) This might be an opportunity for some to attempt to create a new currency that will tie America's economic foundation to that of Canada and Mexico. There has been some talk about the Amero as a new currency. The good news is that this will never get off the ground, and will remain forever fodder for conspiracy theories.

    4) Our new economic policy will once again call for a currency backed by something of value, as opposed to debt. Fiat currency, that is, currency with a value of whoever arbitrarily decides what it is going to be, will become history.

    I believe that we have a very rough road ahead of us, as our economy melts down. It is going to be very tough for some of us, but I truly believe that, once the proper steps are taken, we are going to come out of this better than we were before, and that the government of the people, by the people, and for the people, will once again become just that, instead of the tool for the banksters it became under our current economic policy.

    Yes, there is bad news coming, but if we persevere, the good news down the road will far outweigh it. Don't listen to politicians and other professional liars, as they make their last stand, desperately spinning what is about to happen, while praying that the status quo will prevail. It won't. The writing is already on the wall, and their days in power are numbered. When the meltdown does happen, this WILL be change you can believe in. Our leaders will once more work for us, and not for just the select few who have them in their pockets, via the lobbies. When this is over, perhaps the lobbyists can find work at McDonald's, if the supervisors somehow have it in their hearts to overlook their treasonous acts, and give them a second chance. After all, the retarded are always given a chance in life. LOL.

    In the end, America WILL prevail.

    I know that I am a bit over the top with this rant, so I will now put on my flameproof suit and get ready to take some hits.

    Article is here.
    Last edited by danarhea; 09-12-10 at 11:45 PM.
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    Re: Doomsday warnings of US apocalypse gain ground

    Quote Originally Posted by danarhea View Post
    What's so surprising about this? I have been saying this for years now, ever since Clinton signed the Gramm-Bliley bill into law. It's coming, folks. How it ends is up to us. We can come out of this better than we were before, if we do the right things, and I believe we will. Here is how I believe it will play out:

    1) First, we will end up defaulting on our debt. There is no way to prevent this. We do NOT have the resources to be able to ever pay back our debt. Our crisis is going to become the world's crisis, but those who will suffer most, economically, will be the banksters, whose only wealth is on nothing but paper, which was created from all this debt, and not much else.

    2) Heads are REALLY going to roll in Washington, and whoever replaces them will rebuild America's economic policies on sane foundations.

    3) This might be an opportunity for some to attempt to create a new currency that will tie America's economic foundation to that of Canada and Mexico. There has been some talk about the Amero as a new currency. The good news is that this will never get off the ground, and will remain forever fodder for conspiracy theories.

    4) Our new economic policy will once again call for a currency backed by something of value, as opposed to debt. Fiat currency, that is, currency with a value of whoever arbitrarily decides what it is going to be, will become history.

    I believe that we have a very rough road ahead of us, as our economy melts down. It is going to be very tough for some of us, but I truly believe that, once the proper steps are taken, we are going to come out of this better than we were before, and that the government of the people, by the people, and for the people, will once again become just that, instead of the tool for the banksters it became under our current economic policy.

    Yes, there is bad news coming, but if we persevere, the good news down the road will far outweigh it. Don't listen to politicians and other professional liars, as they make their last stand, desperately spinning what is about to happen, while praying that the status quo will prevail. It won't. The writing is already on the wall, and their days in power are numbered. When the meltdown does happen, this WILL be change you can believe in. Our leaders will once more work for us, and not for just the select few who have them in their pockets, via the lobbies. When this is over, perhaps the lobbyists can find work at McDonald's, if the supervisors somehow have it in their hearts to overlook their treasonous acts, and give them a second chance. After all, the retarded are always given a chance in life. LOL.

    In the end, America WILL prevail.

    I know that I am a bit over the top with this rant, so I will now put on my flameproof suit and get ready to take some hits.

    Article is here.
    A few things I agree with and a few I dont

    Is the US headed for some really difficult times ahead, most definately

    The fiat currency will remain, the US cant afford to go back to a gold standard

    Heads will role in washington only to be replaced by similar heads


    Once all the bad things have been worked out and sane policies have been enacted (Lobbyist restrictions) a law similar to the Glass Stegal act then the US will resume growth from a far lower base
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    Re: Doomsday warnings of US apocalypse gain ground

    It is up to us to stop Obama ASAP before he gets his wish.

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    Re: Doomsday warnings of US apocalypse gain ground

    Thoughtful, intelligent post, Dan. I sure hope you're wrong.

    Quote Originally Posted by danarhea View Post
    What's so surprising about this? I have been saying this for years now, ever since Clinton signed the Gramm-Bliley bill into law. It's coming, folks. How it ends is up to us. We can come out of this better than we were before, if we do the right things, and I believe we will. Here is how I believe it will play out:

    1) First, we will end up defaulting on our debt. There is no way to prevent this. We do NOT have the resources to be able to ever pay back our debt. Our crisis is going to become the world's crisis, but those who will suffer most, economically, will be the banksters, whose only wealth is on nothing but paper, which was created from all this debt, and not much else.
    Perhaps we will inflate our way out of it. It's worked in the past...unfortunately, and scarily, so have world wars.

    2) Heads are REALLY going to roll in Washington, and whoever replaces them will rebuild America's economic policies on sane foundations.
    Nobody can top Lord Tammerlain: "Heads will roll replaced by similar heads."

    3) This might be an opportunity for some to attempt to create a new currency that will tie America's economic foundation to that of Canada and Mexico. There has been some talk about the Amero as a new currency. The good news is that this will never get off the ground, and will remain forever fodder for conspiracy theories.
    Oh, yikes. Why on earth wold we want to "tie America's economic foundation to that of Mexico?" Canada? Okay, but Mexico? Hope you're right there.

    4) Our new economic policy will once again call for a currency backed by something of value, as opposed to debt. Fiat currency, that is, currency with a value of whoever arbitrarily decides what it is going to be, will become history.
    Maybe it'll be backed by diamonds and Mr. DeBeers will become Chairman of the Federal Reserve.

    I believe that we have a very rough road ahead of us, as our economy melts down. It is going to be very tough for some of us, but I truly believe that, once the proper steps are taken, we are going to come out of this better than we were before, and that the government of the people, by the people, and for the people, will once again become just that, instead of the tool for the banksters it became under our current economic policy.
    I love this, bears reading twice:

    Yes, there is bad news coming, but if we persevere, the good news down the road will far outweigh it. Don't listen to politicians and other professional liars, as they make their last stand, desperately spinning what is about to happen, while praying that the status quo will prevail. It won't. The writing is already on the wall, and their days in power are numbered. When the meltdown does happen, this WILL be change you can believe in. Our leaders will once more work for us, and not for just the select few who have them in their pockets, via the lobbies. When this is over, perhaps the lobbyists can find work at McDonald's, if the supervisors somehow have it in their hearts to overlook their treasonous acts, and give them a second chance. After all, the retarded are always given a chance in life. LOL.

    In the end, America WILL prevail.
    Well, depressing, all in all. I sincerely hope you're wrong. We made it through 1929 -- took over ten miserable years, but we made it. You're right, though. We Americans are more resilient than we even know. Whatever comes, we'll make it. In the meantime, pay off your house, start living beneath your means, save some money, and keep your powder dry.
    Last edited by MaggieD; 09-13-10 at 01:02 AM.
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    Re: Doomsday warnings of US apocalypse gain ground

    Quote Originally Posted by Councilman View Post
    It is up to us to stop Obama ASAP before he gets his wish.
    3 posts in, and the stubborn stupidity that keeps the tug-o-war going kicks in. Far-right/ far-left need to be put out to pasture and let the pragmatic middle take over and run things for a while.

    Hard choices that the partisans protecting their jobs will never make. What got us here:

    *unfunded wars
    *for profit health care dictating terms of health care reform
    *banking/financial sector dictating terms of regulation
    *refusal to make hard choices on both taxes and spending

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    Re: Doomsday warnings of US apocalypse gain ground

    In a way I'm grateful for Obama.
    If we had McCain I think we might still be on the road we are only moving slower, and we'd still be sleeping. Obama is getting his change come true so fast, it's snapped people awake. I think just in the nick of time to stop it.
    I'm hopeful (almost confident) things will turn around and it won't take years.
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    Re: Doomsday warnings of US apocalypse gain ground

    The U.S. will enter another depression, then it will come out of it with a new currency whose value is adjusted based on actual assets, not fiat. The U.S. will survive, its dollar just won't be centre stage anymore. It's going to be a hard lesson though and I am not looking forward to it.

    I think the "end of the world" based on economic meltdown is far more likely than some kind of environmental catastrophe. The thing that concerns me the most is that the U.S. has spent the latter half of the 20th century and beyond creating new and volatile security situations all around the world due to its foreign policy. If its presence is withdrawn due to economic collapse then there will be much bigger dangers on the horizon for everyone than simple monetary issues.

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    Re: Doomsday warnings of US apocalypse gain ground

    Mark Twain: "The report of my death is an exaggeration"
    People both inside and outside the United States have been predicting its demise for over two centuries. Our nation is large and robust enough to be resilient against simple economic downturns or political setbacks.

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    Re: Doomsday warnings of US apocalypse gain ground

    Quote Originally Posted by Divine Wind View Post
    People both inside and outside the United States have been predicting its demise for over two centuries. Our nation is large and robust enough to be resilient against simple economic downturns or political setbacks.
    They also said that in the British Empire, Roman Empire and so on and so on.. where are they now?
    PeteEU

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    Re: Doomsday warnings of US apocalypse gain ground

    Quote Originally Posted by PeteEU View Post
    They also said that in the British Empire, Roman Empire and so on and so on.. where are they now?
    They failed because they were in Europe Now they are these little debt ridden nations that have little relevance in the world.
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