Discussion in 'Markets & Economies' started by millededge, Jan 3, 2011.
Great article, it explains what most of us would be already aware of in a very matter of fact way.
You know what the interesting thing is, they expect the public to bail out the system via current and future taxes.
Well what happens when the general public has had enough and woken up to this fact. If I was a US citizen, I would do everything I can to migrate to another country. I wouldn't want to live there and continue paying their taxes. Now multiply this by 1/10th of their population or more.
Once this happens, theres no way in snowballs chance the US can ever repay their debt via taxes and cutting spending. The US have to simply default or hyperinflate their currency to zero value.
The other thing I have realised is that they do not want deflation. When the monetary system deflates, things will get cheaper. People will lose jobs, which also reduces the amount of taxes the US government gets. They want the economy to inflate so they can pay off the debt, not deflate and make it worse.
Its only a matter of time now until the USD collapses, they are cornered and theres no way out.
The USD is already beyond the point of no return mate. Even if they taxed their workers 100% of their wages today and kept their current outgoings intact, they can't repay the debt - ever. The US is already doomed, it's not a question of if anymore, but when.
I dont even think its a question of when.
I think its a question of how far the collapse will go.
I think we are already in another American Revolution. People mistake the lead up to the main events as being just like other events, but fundamental and unprecedented events have already transpired.
Over the course of the next decade you'll see events as varied as fascist ruler, civil war, mass executions and an erasure of the current leading elite who have horribly failed in America.
That's where I see things headed. And its already happening even though not everyone sees it.
Agree with you intelligencer, but I see that worldwide because of the dependence of the world on the US dollar. Europe and UK see to be slipping down that path as well.
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