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IMO, PANIC is a complete waste of energy. It makes people do stupid things they'd never do if they stayed calm. So I'll say, NO it is not time to PANIC. Rather, stay calm and keep your wits about you....no matter what. Take it one day at a time, one step at a time.
I completely agree it is only a matter of time before there is a breakthrough in technology by some new genius out there.
While I agree that things to this point do not seem that bad, it is important to look at the extraordinary lengths to which the government has gone to postpone the depression. I say postpone because the actions taken so far will not prevent it, only make it worse down the road. The government has the taxpayer’s credit card and is digging a hole we will not be able to climb out of. The Fed just bought 7 billion in Treasuries because foreign investors are no longer interested, the reason is, they do not think the American taxpayer is going to be able to service the debt. The sub prime mortgage problem is only the tip of the iceberg, yet look at the damage it has done. The Alt A mortgage problem is just as large as the sub prime problem, but has not impacted yet, the commercial real estate loans are going to be a huge problem but are just now beginning to become delinquent. Add to all that the gigantic derivatives problem and the entire financial industry becomes a weight that can do nothing except sink the economy. The Government has already shown it will do literally anything to bail out Wall St, the Banks, and Big Business interests at the expense of the tax payers, and we can expect that to continue until they have stolen everything they can. Depression 2011? Unfortunately yes.
I don't forsee this ending well. It can't. Bottom line, there is no way the government can perpetually maintain a system that requires exponential growth to operate, not to mention all the frightening obstacles in the country's path now and in the very near future, any one of which could cause a collapse. Worse still, no one in power seems to have any intention of changing course (it might already be too late anyway). I am certain I will see the fall of America within my lifetime. It chills me to the bone and makes me fear for my kids.
I don't forsee this ending well. It can't. Bottom line, there is no way the government can perpetually maintain a system that requires exponential growth to operate, not to mention all the frightening obstacles in the country's path now and in the very near future, any one of which could cause a collapse. Worse still, no one in power seems to have any intention of changing course (it might already be too late anyway). I am certain I will see the fall of America within my lifetime. It chills me to the bone and makes me fear for my kids.
4668mi Moscow, Moskva, Russia -> NYC
7801mi Mumbai, Maharashtra, India -> NYC
5634mi Pucheng, Beijing, China -> LA
I'm thinking our Navy will have plenty of warning...
Stop. Seriously. Stop it y'all. Stop being scaredy cats.
Its amazing, AMAZING how humans worry about everything under the sun, yet animals...who have to deal with OUR bull****, how we have taken so much away from them, maintain to live on as usual. They arent worried about how they will find the next worm, or the next gazelle for crying out loud! They live life as usual, yet still remain to preserve their very existance. When population dynamics (meaning, when predator outnumbers the prey, or vice versa..) they deal with it and let nature takes its course. Yes, they may have less food for a season...but its just a SEASON! Soon the balace of nature plays its self out once again.
If only we were animals. But we're not. We worry, fret, and predict all the worse. Such intellectual humans...too intellectual for our own good at times!
My goodness, somebody better put an econ textbook in front of all those animals.
Ignorance might be bliss, but forewarned is also forearmed. We have had quite a bit of time to prepare ourselves for a hard landing. Some people will come out of it richer and others will come out of it poorer. Awareness, intelligence, planning and luck will make all the difference.
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So whose tanks get here first?
