How long before the United States is where Greece is? (bankrupt, safest)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The US can never have Greece's problems because we have our own currency.
Countries buy our debt so they can sell more product to us than they buy. If they stopped, it would be a really good thing for the US. Domestic investment and wages would increase.
So what happens when investors around the world lose all trust in our currency and stop buying our debt?
Investors will invest their money elsewhere and the interest on our debt is going to spike to unsustainable levels.
So what happens when investors around the world lose all trust in our currency and stop buying our debt?
Well, if they're buying less US debt, they're either buying US goods instead, or selling less goods to the US. In any case, our import/export ratio improves to the side of increased jobs in the US. It may increase inflation, which will reduce the private debt overhangs that have made so many Americans leery of spending, so spending and GDP will increase and more people will be brought back into the workforce.
[quote=Costaexpress;40444552]Apparently that was the most uneducated post in this Thread. When people can't come up with a compelling argument, that's what some of them resort to. The sort of sour grape personal attack that reveals every bit of their insecurity, bitterness and failure to manage their anger.[/QUOTE
Well, if they're buying less US debt, they're either buying US goods instead, or selling less goods to the US. In any case, our import/export ratio improves to the side of increased jobs in the US. It may increase inflation, which will reduce the private debt overhangs that have made so many Americans leery of spending, so spending and GDP will increase and more people will be brought back into the workforce.
The sooner other countries stop buying our debt, the sooner our trade deficit will close and we can get back to real investment... in domestic production and infrastructure.
The globalist trade-deficit and debt escalation scheme that has been running now for 35 years has been a disaster for most citizens. It did however make a few people insanely wealthy. Global corporations and banks.
The U.S. model of imperial overreach and overly funded domestic programs is unsustainable. Eventually it collapses under its own weight.
Same thing happened to Rome, Ottoman Empire, British Empire, many Chinese dynasties. It's cyclical. We've been on top for 100 years or so, and now it's someone else's turn.
I suspect the great powers of the latter 21st century and the early 22nd will be the spacefaring nations, those that build self-sustaining colonies on the moon and in space, learn how to exploit the asteroid belt, discover new economic opportunities that we can't even imagine today.
The U.S. will be left behind, just as Britain was after WWII. We twice elected a president who doesn't give a damn about the space program; he cancelled the manned vehicle that was to replace the Shuttle (Congress forced him to restore bits of it).
Meanwhile the Chinese are planning to land people on the Moon within 10 years, and probably they'll take the lead in space while we're sitting here on our fat butts, trying to figure out how to borrow (or tax) more money to fund more pointless and ineffective stimulus programs.
You guys have it all wrong. The United States is where Greece is in less than 24 hours. And Greece is where the United States is in less than 24 hours. They're both at the same lattitude.
This is one of the most absurd statements I've seen. Greece is in trouble because they got themselves in debt. Primarily because they have pensions they can't afford and a socialist economy (which never ever works) and very little taxes on the few businesses that do exist in the socialist economy because noone pays them and it's not enforced. They love to sit at the coffeeshops and collect their pensions pretending that rearranging the chairs on the Titantic is gonna make any difference. There is no answer for Greece. They are screwed. Just depends on how they end up getting screwed.
That's where the U.S. is headed if we don't get our fiscal house in order. It might take 10,20, 30 years but once other countries wise up and quit floating us, it WILL end. It's not an if, but it's a WHEN. And governments "never" reign it in. It's pretty much a "start fresh" thing at some point. Maybe you think this is doom and gloom and impossible. Look at where we've come from in terms of growing the debt, social programs, etc.
This just goes to show you have no idea how world economy works.
Let's check the world economic ranking, Greece is #44.. Guess who is #1? Yeah, the very country that you think is on par with #44....
Greece got themselves in debt because they don't make enough money but they still want nice things. That's basically it. Yes they have a lot of debt, yes they should have tightened the belt; but the bottom line is that they have no way to repay the debt. That's the problem. The US, on the other hand, is more than capable of repaying the debt. That's the difference you don't seem to get.
Another thing that you are just simply ignorant on, is that if America goes the way of Greece, it will CRASH the world economy. It will result in damages worse any World War; because such an event will take down Europe and Asia immediately; which in turn will crash the Middle East and Africa and subsequently the rest of the planet. First of all, no one will let it get to that point - not us, not Europe, not Asia, not Planet Earth. And if, in the unlikiest of event that it happens, the rest of the world will be begging us to take their bail money. They will not sleep well until America is fixed.
.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
