ShcShc11 0
QuoteQuoteQuoteWhen the German economy imploded after the Great War, the devastation was hard to imagine. Germany remained a net exporter of food, yet hundreds of thousands died of hunger. The bad craziness that came of this time gave us the Great War, Part II - as well as the Holocaust.
One thing to note is that Germany at that time was not a petroleum-based economy. Rail transport was largely powered by coal or lignite, and horses were responsible for much of the rest.
In the US of A we are in much worse shape than was Germany before its economic collapse. We have been running up a tab for the last forty years with no thought given to balancing the books; if anything, we have come to think of spending money we do not have as a collective birthright. The last two presidents have gone out of their way to establish their legacy as the most profligate national leader in human history - while the last guy was a wastrel of unimaginable proportion, the incumbent has seen fit to make him look like an amateur by comparison.
Do you want a serious breakdown and/or Discussion of the German economy? I know all about its economy from 1919-1945.
Thanks, but Economists gravitate to picking flyshit out of pepper, and confuse that tendency with analysis. I have seen examples of what you think you know.QuoteYou are completely deluded by saying that U.S is anywhere NEAR Post-Great War Germany.
My point was not that we are NEAR Post-Great Way Germay, it is that we are in Much Worse Shape.QuoteFrance invaded and occupied the economic area of Germany,
Regardless of the fact that the U.S. prints (or at least generates electronically) the "foreign reserve," everything we have is BORROWED to begin with. The Fed is neither Federal nor a Reserve. The basis for issuance of currency is the 'loan' from the Fed by the 'Mandrake Mechanism,' whereby money is created out of thin air. Not only do we not have X weeks foreign reserve currency, our Treasury has nothing but 40 years of IOUs - for which WE owe, NOT owed to us.
The bottom line is that, whenever the note comes due that we can't quite pay, our entire economic system will consist of a big sucking sound.
BSBD,
Winsor
QuoteThanks, but Economists gravitate to picking flyshit out of pepper, and confuse that tendency with analysis. I have seen examples of what you think you know.
Look at the 10 years U.S bonds.
The investors are willing to PAY THE U.S to let them borrow their money.
And frankly, you don't know what you know because you don't know the data. You don't understand them nor do you even remotely make an effort to understand them.
QuoteNot only do we not have X weeks foreign reserve currency, our Treasury has nothing but 40 years of IOUs
I don't think you understand that WE are the foreign reserve currency.
Quotefor which WE owe, NOT owed to us.
The bottom line is that, whenever the note comes due that we can't quite pay, our entire economic system will consist of a big sucking sound.
What you described is an economy pegged on gold standard. A country's economy is not your personal credit card -at all-. It doesn't remotely function the same way but people keep on confusing them.
The background information behind the deficits itself are far more important. By your standard, a 250 pounds bodybuilder/weightlifter is considered unhealthy and unfit based on his numerical weight.
Cheers!
Shc
QuoteHe lives in Canada -- he can laugh the whole time.
Why would he possibly be laughing? He lives in a province that has turned into a economic basket case thanks to a corrupt progressive government that has been in charge for the last decade. Not only that, but he lives in a province that heavily relies on trade with the USA, except that the Democrats are not interesting in trade thanks to their protectionist ideology. Even if they were interested in trade, thanks to the out of control US government deficits and accumulated debt, inflation and a devalued currency will make trade even more expensive to the point where the US could not afford to do trade with his province. No there is not a lot to laugh about these days in Canada's largest province ... unless of course someone happens to be a public sector worker. In which case, yeah those people are laughing ... all the way to the bank.
But I don't have much to laugh about either. It is true the economy of the province I call home is doing a lot better, but I too am ruled by a corrupt progressive government and we simply are not big enough to support the entire country. There is only one province in Canada who is balancing their books, only one province who can call themselves a conservative government and even they can not laugh as they themselves are not big enough to support all the takers.
No when the US goes down due to your unsustainable culture of entitlements (remember the first of the boomers are just now beginning to draw on these entitlements), Canada will fall as well and that is no laughing matter.
Try not to worry about the things you have no control over
Shotgun 1
QuoteThe sky is Falling! The Sky is Falling!
Having Puerto Rico as the 51st state won't be so bad.
Or are you talking about something else that happened last night?
oldwomanc6 38
QuoteQuoteThe sky is Falling! The Sky is Falling!
Having Puerto Rico as the 51st state won't be so bad.
Or are you talking about something else that happened last night?
Just where is that star going to go on the flag?
WSCR 594
FB 1023
CBDB 9
maadmax 0
QuoteIt didn't happen for the last 4 years -- why would it start now?
Wendy P.
Just look at Greece, except many times worse. There won't be any bail outs for us. No worries, we have some time yet.
Bolas 5
QuoteQuoteQuoteThe sky is Falling! The Sky is Falling!
Having Puerto Rico as the 51st state won't be so bad.
Or are you talking about something else that happened last night?
Just where is that star going to go on the flag?
States will either merge or some may secede...
If ya can't be good, look good, if that fails, make 'em laugh.
billvon 2,435
Shotgun 1
QuoteQuoteQuoteThe sky is Falling! The Sky is Falling!
Having Puerto Rico as the 51st state won't be so bad.
Or are you talking about something else that happened last night?
Just where is that star going to go on the flag?
http://en.wikipedia.org/wiki/File:US_flag_51_stars.svg
Wendy P.
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