Debt Deal or Not, Confidence in America Is Shredded

[ruger17hmr]

Debt Deal or Not, Confidence in America Is Shredded

You think?

Debt Deal or Not, Confidence in America Is Shredded | Daniel Gross - Yahoo! Finance

 

[Cpt Caveman]

Well it certainly is changed. Hope and change working for ya?

 

[John Galt]

Incompetence or intentional?

 

[MilitaryArms]

No matter what the "deal" is, we're still screwed. It's been estimated at current spending levels we'll be totally insolvent in less than 10 years. That means we will owe so much money to our creditors that we won't be able to make the interest payment much less payments against the balance of what we owe.

At that point we will face a complete economic collapse. Food prices will skyrocket, people will panic and snatch up what food is available. Local governments will collapse as funds dry up. Jobless rates will be at an unprecedented level. You'll see civil unrest in major cities... riots, protests, etc.

...and it's not like we've not been warned.

[ame]http://www.youtube.com/watch?v=yZp0-DOC7Ko[/ame]

Remember how people warned about the .com bubble bursting? Remember all the warnings about the housing market collapse if things didn't change? Yet most Americans ignored the warnings and continued to pretend everything was ok - right up until the collapse. Then they all acted like it happened out of the blue, like they had no idea things were really that bad.

The same thing is happening again, only this time the stakes are even higher. It's not a matter of "if" our economy will collapse, it's a matter of "when". The asshats in Washington and their "deals" aren't doing anything to fix the problem. They're just postponing it and the vast majority of Americans aren't savvy enough to see that.

Whatever "deal" they come up with will fall FAR short of preventing our economic collapse.

 

[Johnson]

Full Auto, I agree with everything except the 10 year estimate. I give us 5 years at most; and that's if Greece, Spain, Italy, et al dont accelerate it even faster for us.

I never used to be so down on the future of this once great nation, but this last year has shown me just how far we have fallen. The greatest experiment in freedom is coming to a close.

 

[nawainwright]

fascinating, I will read that book

 

[orange]

Welp.
Five years until hunger riots.

I need more ammo...