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No, so put away your tinfoil hat, why would anyone really have to ask, or are there really that many have no idea when it comes to economics. Clue: There is not ONE credible economist that is predicting any such thing now or even in the near future.
Casper
In a depression there are less dollars in circulation causing deflation.
That isn't necessarily true. If GDP exceeds the money supply then you have fewer Dollars chasing more goods. The prices drop and that is Deflation.
If the money supply exceeds GDP, then you have more Dollars chasing fewer goods and prices rise. That is [Real] Inflation.
In the Great Depression you had Deflation because the economy was over-producing and the import tariffs only resulted in warehouses full of stuff that couldn't be sold, because the rest of the world respond with retaliatory tariffs.
In some parts of the country, rapidly rising wages caused Wage Inflation, which drove up prices, and FDR levied a Wage & Price Freeze to stop that.
The reason there was no Real Inflation at the end of WW II with all of the spending during the Great Depression and WW II, is because the Bretton Woods Agreement effectively made the US Dollar the de facto international reserve currency and the de facto currency of international trade, and so all of those Dollars were just sucked off the market as countries grabbed them to put in their federal reserves and to buy US goods.
Because of the over-spending spree by Obama, and because of the spending that will occur over the next 8-9 years during the depression, you will have Real Inflation when it's all over, and it will probably be in the 35%-45% range so it will seem to many that the depression is still continuing.
I can already hear the whining and sniveling by the *******s on City-Data now.
Quote:
Originally Posted by LuckyGem
I don't think the economy will collapse because they're going to make a deal on the debt ceiling.
In reality your economy will just slowly slide into an ever worsening recession. I know "Collapse" is really romantic and everyone is dying to purchase my Depression Badge, which I sell for $34.95 plus Shipping & Handling charged to your credit card in 3 easy installments. This unique accoutrement is hand-crafted by skilled artisans in Macedonia, and will looking stunningly outrageous on any outer-garment, letting you throw right back into the faces of the few survivors left of the Greatest Generation that you have suffered your very own Depression and that they should stop whining about their Great Depression.
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Generation Diaspora (November 2001 to December 2014)
Generation Fail (November 1991 to October 2001)
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Generation Me First (November 1965 to October 1975)
Generation Tweener (August 1960 to October 1965)
Generation We Succeeded By Burying Everyone Else in Debt (November 1940 to July 1960)
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Quote:
Originally Posted by LuckyGem
Ever imagine using a 10,000.00 bill?
I used such notes in Italian Lira and in Romanian Lei.
Quote:
Originally Posted by kaimuki
Good point! The question is how soon will the vast majority of the world's population, including Americans, be living in real poverty?
Not having cable TV or being able to eat at McDonald's 37 times a week is not living in poverty.
Quote:
Originally Posted by BruSan
What would all of these OTHER growing economies do if yours were simply allowed to collapse and remain dormant for any time.
They wouldn't worry about it since BRIC is running the show and have their act together. They won't make the same mistakes the US made.
Quote:
Originally Posted by workingclasshero
I vote
YES: if we continue spending like drunken liberals
NO: if we get spending under control
Any major cuts to the budget of $500 Billion or more will result in a recession, which is why Obama wants the freedom to spend through Election Day.
Quote:
Originally Posted by plwhit
The Chinese bought an Admiral Kuznetsov class aircraft carrier (The Varyag, not nuclear powered) designed and partially built by the old Soviet Union in 1985 which the Chinese are retrofitting and soon to be commissioned....
They had to buy one in order to copy it like the rest of the military hardware they deploy......
You are 100% correct in the rest of your assessments on the pathetic state of the Chinese military
That would be an incorrect assessment.
Not all aircraft carriers are created equally, and not all aircraft carriers have the same function and purpose.
To assume that every country uses its aircraft carriers for the projection of force and hegemony and in support of offensive operations would be grotesquely wrong, since that is not true.
Soviet carriers were totally defensive in nature. Their function was to protect the surface group, not bomb hapless civilians in some 3rd World Country.
The Chinese navy as it is currently organized and structured is totally defensive, not offensive, and to assume that the Chinese purchased a defensive ship to use for offensive purposes is outrageously bone-headed.
I mean seriously, the Varyag had a compliment of 36 aircraft, of which 18 were helicopters. Let's get with the program.
It is all relative. Our economy has been weakening since the 70s. We've had a HUGE reduction in the purchasing power of the dollar after Obama took office. The last time the dollar bought one dollars worth of goods was 1967. You only have to note that Gold a few years ago was $800 an oz and now it is $1600 an oz. This doesn't show that gold is increasing in value as much as the dollar has lost half the purchasing power it had a few years ago. (All you have to do is think back at the number of groceries you used to be able to buy for $50 vs what it buys today.)
With the deficit plans now on the table eventually we will endup like greece with its continued growth.Anther commison like all before which endup meanig nothing is done.I those years we will see a constant reduction in services in many programs.SS;mediare and medcaid continue their march to their end.
Any bill that increases the debt limit is fools treason against the country. WE NEED TO QUIT BLOWING MONEY, THAT IS THE BOTTOM LINE. Increasing the debt limit only allows the morons in Congress and the whitehouse to keep acting like drunken sailors, only a drunk sailor would have wised up by now.
No, so put away your tinfoil hat, why would anyone really have to ask, or are there really that many have no idea when it comes to economics. Clue: There is not ONE credible economist that is predicting any such thing now or even in the near future.
Casper
That is not true. Gerald Celente is very credible and is predicting a huge depression with blood on the streets. He has a very good track record too:
First off he U-Tube is terrible, looks like someone does not know how to record broadcast shows.
I went to the site and saw many predictions, most of which were being predicted by many people, and equate to predicting that it will rain, not whenbut that it will, guess what even a broken clock is correct twice a day. Thing is he is alone in this predictions, we are not theaded for economic collapse any time soon, the conditions are not set. Let me ask this does the website list those things they predicted that were wrong or do they dump them, and we all know no one is correct 100% of the time, meaning where are their failures? I have listened to many economists from all over the world speaking over the last couple of months and none of them are predicting blood in US streets due to the situaion we are dealing with. Have you looked around lately most people are oing about their daily lives just as they always have. Are some people out of work yes, but we are talking about 9%, not 90%, is the housing market in trouble heck yes, and guess what that to will right itself, the market always does this when we over extend ourselves. No, I do not buy into the theory that the sky is falling, n fat if you are smart tis is when you buy stocks, buy low sell high, oh wait, the markets are actually doing fairly well, better hurry. Same thing with property, now is the time to buy, get it while it is cheap and available. Anyway, as I said I disagree, I do believe some actually WANT this to happen, fotunately for the rest of us it won't and if they are msart they will take advantage of the opportunities that are out there, it is the Capitalist way .
Casper
First off he U-Tube is terrible, looks like someone does not know how to record broadcast shows.
I went to the site and saw many predictions, most of which were being predicted by many people, and equate to predicting that it will rain, not whenbut that it will, guess what even a broken clock is correct twice a day. Thing is he is alone in this predictions, we are not theaded for economic collapse any time soon, the conditions are not set. Let me ask this does the website list those things they predicted that were wrong or do they dump them, and we all know no one is correct 100% of the time, meaning where are their failures? I have listened to many economists from all over the world speaking over the last couple of months and none of them are predicting blood in US streets due to the situaion we are dealing with. Have you looked around lately most people are oing about their daily lives just as they always have. Are some people out of work yes, but we are talking about 9%, not 90%, is the housing market in trouble heck yes, and guess what that to will right itself, the market always does this when we over extend ourselves. No, I do not buy into the theory that the sky is falling, n fat if you are smart tis is when you buy stocks, buy low sell high, oh wait, the markets are actually doing fairly well, better hurry. Same thing with property, now is the time to buy, get it while it is cheap and available. Anyway, as I said I disagree, I do believe some actually WANT this to happen, fotunately for the rest of us it won't and if they are msart they will take advantage of the opportunities that are out there, it is the Capitalist way .
Casper
I do not see where Gerald Celente is posting an imminent collapse. I think he shares my views that we are in a slow decline that will eventually end up with blood on the streets. I do agree with you that most people, including me, are doing ok in their daily lives, but that will not last. As far as some people wanting a collapse, I cannot buy that. Who in their right mind wants to lose their job, savings, retirement accounts, etc? I certainly don't. I personally just look at all the data and bad policies (especially free trade deals) and arrive at my conclusion. The best scenario is we have another bubble that will give us another 5 year boom. The worst is, you know, not good.
When this recession ends, both the USA and England are going to have a bout
of inflation. Both our nations have been printing money for fun. I remember getting
a 35% annual wage rise in the inflationary times of 1975. But jeez, I hope you guys
hold things together till after my Las Vegas trip in October.......
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