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News When the economy collapses

  1. Dec 4, 2005 #1


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    I wonder who will be the one who survives the collapse of the government and law n order once the Government debt reaches its tipping point? With raising national debt to both domestic and foreign entities, the US Government will start printing more money and the inflation will take place. As it happens to be so, I was born in Russia in 1984 and I've seen this happen before. With India and China today, I know where the US is heading - an economic collapse so severe, it will be almost overnight.

    What kind of jobs will survive? Farming? Engineering? I'd like to know, thanks.
  2. jcsd
  3. Dec 4, 2005 #2
    there will be the guy with the thumb in his &#*.
    oh yeah! looting might see a revival.
  4. Dec 4, 2005 #3
    but, then, you know, only the elitist looters would remain, having looted all the "little guys".

    and, maybe, the whole thing will start over again and we'll call it capitalism.
  5. Dec 4, 2005 #4
    What a bright outlook for the world. Just to straighten something up before people begin commiting suicide in light of what appears to be the prophecy of economic annihiliation, the increasing debt is no biggie. The US can create massive surpluses incredibly easily, it can dump stupid ass military projects like star wars, it can butt out of the Middle East and remove its listening posts etc from the face of the earth and can stop bailing out down the dirt companies.

    If an economy collapses, teachers/doctors/lawyers survive
  6. Dec 4, 2005 #5


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    Excuse me, Sir/Madam, but you seem to be unaware about a few things:

    1. only 50 years ago there were 4 billion people less than today.

    2. there is no surplus in the government - each day the United States borrows $3 BILLION just to pay off the interest - not the debt itself.

    Edit: I should probably clarify: The US can not create surplus.
    Last edited: Dec 4, 2005
  7. Dec 4, 2005 #6
    I'd LOVE you to read what I wrote! I said America CAN create massive surpluses, not that they currently exist.

    And why does 4 billion people more make a difference?! Or indeed 50 years?
  8. Dec 4, 2005 #7


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    It's remarkable the state of the U.S. national debt which now stands at $8,117,426,006,184. When Clinton was leaving office the budget surpluses he was accumulating had the U.S. on track to eliminate the national debt entirely by the year 2010. This would have saved, due to the reduction of debt servicing, 12 cents in each tax dollar to further reduce taxes or increase services.

    He handed over the economy and U.S. society in it's best shape ever. Record surpluses, lowest unemployment in many years with 22 million new jobs created in his 8 year term, education and health improving in leaps and bounds, highest per capita income ever, tremendous respect around the world and all despite the best efforts of the republican congress to sabotage everything he did.

    Before leaving office he warned the electorate the neocon republicans would cut the legs off the poor and hand out all the anticipated surpluses plus more in tax cuts to themselves and he was right.

    Apart from the top elite 3-5% of the electorate that the republicans actually represents it is beyond me why anybody would vote republican. :confused:
    Last edited by a moderator: Dec 4, 2005
  9. Dec 4, 2005 #8
    And what has Bush done differently....exactly!
  10. Dec 4, 2005 #9
    reality is a problem for dreamers.

    "if i can't have the American Dream, then I'll be damned if Reality doesn't suffer because of it.... Vote Republican." :)
  11. Dec 4, 2005 #10


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    Aside from CIA selling crack cocaine to fund their activities back in the day, and US corporations selling billions of dollars of assault weapons to the Saudi's after the Desert Storm, the Bush dynasty has increased military budget - from 2001 to 2005 the budget rose by 100 Billion dollars annually, among other things.
  12. Dec 4, 2005 #11
    Sameandnot - Stop quoting everywhere! It doesn't make you right!! Some dumb ass made a game called something like "the road to baghdad" where you rolled dice and got given cards along ther lines of "suicide bombers kills 50 of your men", and you win if you get to the capital with the most men. He defended this atrocious game by saying it was the American Dream.

    (I am only remembering something that was broadcast on the BBC1 show 'Have I Got News For You' I do not promise to be exact in my wording but the gist is correct and thus hope I cannot be sued!! I also hope somebody will come along with exact references!!)

    Exactly - and the rest !
  13. Dec 4, 2005 #12
    plus, he is a dumb-ass. i can't even watch the guy without feeling sorry for him... and the world.
  14. Dec 4, 2005 #13
  15. Dec 4, 2005 #14


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    Some achievements of Bush that spring to mind are;

    He declared a war on terror and succeeded in changing a small terrorist network with supporters numbered in the 1000s into a formidable international fighting force with supporters now in the millions and all for the paltry sum of several hundred billion dollars of U.S. tax payers money. Way to go!! :rolleyes:

    He's managed to undo 40 years of hard work the U.S. spent in building an excellent relationship with europe and all in just a few years. Quite an accomplishment.

    He has alienated just about every muslim on the planet.

    He's now turning his 'charm' on the Chinese with similar effects.

    He has managed to eliminate the Clinton budget supluses and run up a record deficit by handing out trillions of dollars in tax cuts mainly to his already extremely rich friends.

    He has increased american debt even further by borrowing every cent used to fight his personal crusade in Iraq for which he lied to the american people to gain their support. (This is in addition to the budget deficit as he hasn't funded this through the budget)

    He has introduced torture as a 'repectable' means to glean information.

    The list just goes on and on......... of Bush's 'achievements'
  16. Dec 4, 2005 #15


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    Staff: Mentor

    Well, almost it's best shape ever - it peaked around 6 months before he left office and was in a full-fledged death spiral by the time he actually left. Anyway...

    cronxeh, yes, they US has a lot of debt - but have you checked recently the debt to income ratio of most other developed countries? The US's is relatively low. After France collapses into anarchy (full-fledged, not that little riot they just had) and the US comes near where France is economically today, then I'll start worrying.
  17. Dec 4, 2005 #16
    Getting slightly off topic but in response to Russ - the French are in political turmoil - they hate Chirac but will not elect Le Penn - the quote from the last election was "elect the crook not the Facist". :P

    One must note, thought, that the US and France exist in very different geopolitical spheres and as such they are not comparable. Although the interdependancy of nations and a major dependancy on the US means any slump in America will send major ripples nearly all the way around the world.
  18. Dec 4, 2005 #17


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    Well about 23 percent is owed to foreign entities, but most of the national debt is to federal reserve and government accounts - about 40 percent, and private pension funds- about 7 percent, and other institutions.
    It is interesting to see how the Republicans managed to fund their activities supposedly throughout the years:

    And France with their meager 60 million population and $35 billion military budget/year is not really a good example. I'd say whatever bad can happen to them will happen 5 fold to the US if we come anywhere near that economic crunching point
  19. Dec 4, 2005 #18


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    Interesting chart cronxeh. It highlights the difference in fiscal policy magnificently.
  20. Dec 4, 2005 #19


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    The ecomomy began to slip as Clinton's presidency ended because business people in general and foreign investors in particular were worried about the prospect of a republican president given their previous dire record on controlling spending. The same used to happen in Britain when it appeared a labour gov't was in the offing for the same reasons.
  21. Dec 4, 2005 #20
    http://www.whitehouse.gov/omb/budget/fy2006/pdf/hist.pdf [Broken]
    Last edited by a moderator: May 2, 2017
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