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 debt is currently growing about 15 times faster than the GDP...
In the short run.
I had a similar feeling during the latest holiday spending season from my wife’s spending. That doesn’t mean the crisis/elevated spending levels will go on forever
Taggerung, you keep making a bunch of different posts all around the same exact theme--that the U.S. is in decline. I believe you are directionally correct (and the decline is happening in other rich countries as well). The only question is whether there will be an abrupt and horrifying collapse or a gradual decline. Timing is always tough for these things. America's been steadily declining since we got involved in the Vietnam War.I suspect an abrupt and horrifying collapse will happen within the next 2 decades (and probably sooner rather than later, but I claim no special knowledge).
That said, making the same post over and over in different words ins't going to change too many minds, if any. The signs of decline are really obvious at this point. The people with their eyes open already see the signs (and I'm not just talking economics. There are many indicators). Many of those who don't see the signs are willfully blind (aka 'in denial'). Something horrible will have to happen to shake them out of it. It's unfortunate, but there you have it.
The best we can do is to limit the damage. That's a worthwhile effort--something is always better than nothing--but it will take something miraculous to stave off the decline at this point.
Has it though?
It 1990, it stood alone an a unipolar power after the collapse of the Soviet Union. The u.s economy accounted for 23% of world gdp. 30 years later, it’s still in that range. The 1990s saw the economy roar.
If anything, September 11th 2001, was the start of a bad shift as the U.S began to operate unilaterally in imperial wars. It did exactly what OBL wanted us to do. He wanted to draw the U.S into financially ruinous conflicts that had no end just like he did to the soviets in Afghanistan. He noted how all it took was for a AQ flag to be waved in a cave and the U.S would show up with 100x the spending.
I would also say the rise of the Euro and China has made u.s power less. However, chinas rise is mainly just a competing block against the u.s world order. Perhaps that competition could prove useful in reform. It’s easy to get lazy when you’re unchallenged on the global stage.
Power ebbs and flows. The u.s could collapse or it could not. It could have decades and decades in a dominant role but just perhaps not as dominant as say....1945 or 1990...or 1928.
Americas been in “decline” since the British burned Washington D.C to the ground...a civil war ravaged the country...our greatest ships lie sunk facing 2 empires...the soviets developed an H bomb and beat us to space with Sputnik. Or maybe it was when our greatest rival put a gun to our head on an island 90 miles from U.S shores in Cuba. Or when Our greatest military and economic icons lie burning on world wide news. You get the idea.
Last edited by Thatsright19; 12-08-2020 at 01:50 AM..
As of me writing this, the US has $86T+ of total (public and private) debt and $156T of unfunded liabilities. GDP is about $21.3T. How worried are you about this? Will it lead to a crisis on the near future? The distant future? Or does it not matter at all?
Is there anything you personally can do to change it?
It is everything it is all! In terms of Macroeconomic risks to our society it is the single biggest headwind staring us in the face. I don't even think most people comprehend the magnitude of what will happen when it goes of the rails.
I gave him a chance to elucidate on the numbers and what they mean. I've seen those distorted figures used many times. Posting just a article link or just a single line with numbers is usually good indicator that the person doesn't know the subject.
Taggerung, you keep making a bunch of different posts all around the same exact theme--that the U.S. is in decline. I believe you are directionally correct (and the decline is happening in other rich countries as well). The only question is whether there will be an abrupt and horrifying collapse or a gradual decline. Timing is always tough for these things. America's been steadily declining since we got involved in the Vietnam War. I suspect an abrupt and horrifying collapse will happen within the next 2 decades (and probably sooner rather than later, but I claim no special knowledge).
That said, making the same post over and over in different words ins't going to change too many minds, if any. The signs of decline are really obvious at this point. The people with their eyes open already see the signs (and I'm not just talking economics. There are many indicators). Many of those who don't see the signs are willfully blind (aka 'in denial'). Something horrible will have to happen to shake them out of it. It's unfortunate, but there you have it.
The best we can do is to limit the damage. That's a worthwhile effort--something is always better than nothing--but it will take something miraculous to stave off the decline at this point.
Location: Was Midvalley Oregon; Now Eastside Seattle area
13,072 posts, read 7,511,991 times
Reputation: 9798
Moderately so.
I would like to see a tax increase on everyone, so that everyone knows that, what they want, costs something. Even the indigent must know, and if the can't pay, then they sweep the streets.
I'll be flexible on this.
With the way the U.S. dollar is weakening here in Asia I'm no longer so sure that even God himself couldn't sink it.
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.
