Are You Aware this Nation Faces Economic Collapse? (Huckabee, Reagan, health care)
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The interest on the national debt will take a larger and larger portion of the Federal budget until that is all there is. The rest of the world can avoid our problems. In 20 or so years, China and the other Pacific Tiger countries will have their modern banking system developed and can ignore the sinking USD. Even now without a modern banking system China controls us both in the debt they finance and their refusal to let the yuan float as we want. They will not need to pay attention to us anymore than we had to pay attention to Argentina during their crisis other than watch us jump to their tune.
many americans have historically been 2 paychecks away from homelessness.... when larger economic bumps hit the nation things start getting ugly... People are not responsible and exercise any forethought when it comes to their finances. We live in a very materialistic spend spend spend society... but the sad thing is.. the many who are not responsible effect those of us who are... so to leave everything up to the market is a disaster waiting to happen.... with that said, it doesn't include the many millions who are underpaid and forced to live pay check to pay check just to survive...
This whole mortgage credit crisis is sad and funny at the same time.. because it is a prime example of ignorance and irresponsibility on the part of the people who owe money.. but its also a huge loss that's biting wealthy businesses on the a$$ for their deceptive, and promotional tactics. Its a good example of how everything and everyone is connected financially in this market.. and how bad choices and decisions no matter how high up the ladder you are... can come back to bite you...
whats sad though is.. when the rich companies screw up... they have to be bailed out to protect everyone else in the market... while joe blow in his bad decisions and screw ups are left to lose it all....
we don't own this country... a select few rich do... we're all dependent on them in some way.. and with out them.. our lifestyles would be non-existant...and they know it....
While most of us would prefer not to realize it, we all face economic collapse all the time. It's just a matter of what the odds are at any given moment. Alter this or that a little bit and the odds can change significantly. The same is true for the nation. And one bad thing you can say about what Bush and the Republicans have done since 2001 is that they have in almost every way possible forced the odds of a national economic collapse upward. Fortunately, they started with a nation that was just about as economically healthy as it ever had been, so even with such signifcant damage done, the dreaded collapse is still far from being any certainty. Wiser and more realistic leadership will still have time to right the ship, but we will have to be sure to elect some of that at some point. Much more of the same and we will soon enough find ourselves in some really serious trouble...
I tend to agree as well re: the 'big' economic picture.
The interest on the national debt will take a larger and larger portion of the Federal budget until that is all there is. The rest of the world can avoid our problems. In 20 or so years, China and the other Pacific Tiger countries will have their modern banking system developed and can ignore the sinking USD. Even now without a modern banking system China controls us both in the debt they finance and their refusal to let the yuan float as we want. They will not need to pay attention to us anymore than we had to pay attention to Argentina during their crisis other than watch us jump to their tune.
It is not in China's best interest to upset the USA either--------the former country has many of the socio-economic ingredients for another 'Cultural Revolution'.
Great story, hits it right on the head.. thanks for the link.
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