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Is the U.S. Economy Teetering On the Brink of Collapse?

rightonduderightondude Posts: 745
edited July 2006 in A Moving Train
The U.S. dollar has fallen in value more than 40% during the past few years relative to the Eurodollar. The decline continues and international investors who hold $4.6 trillion in U.S. treasury bills, corporate bonds and stocks are starting to panic. The massive U.S. Federal deficit and the equally massive U.S. trade deficit both conspire toward even lower value for the U.S. dollar.

The time may soon come when personal and corporate bankruptcy may be a crime. If you borrow money and do not repay it, you may be given the opportunity to repay your debt by means of forced labour in a prison camp.

This return to forced (slave) labour in the American economy will be a direct consequence of the coming shortage of energy from oil.

http://www.alkalizeforhealth.net/Ldebtclock.htm

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Post edited by Unknown User on

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    NevermindNevermind Posts: 1,006
    Its because our jobs are paying less and less. The prices of everything is going up and were making less money. Its fucked up when its hard to live because of greedy people. George W must be a fucking billionaire now with control of the gas prices and controlling the oil companies.
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    rightonduderightondude Posts: 745
    Isn't the US gov't building concentration camps all over the place in the USA? Something like 800 of them and growing?

    I could be wrong, but something like this:
    http://news.pacificnews.org/news/view_article.html?article_id=9c2d6a5e75201d7e3936ddc65cdd56a9

    and perhaps this?
    http://www.blackcommentator.com/168/168_images/168_cartoon_king_dubya_is_watching_large.jpg
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    DPrival78DPrival78 CT Posts: 2,259
    is dick cheney preparing for an economic collapse?

    http://www.counterpunch.org/whitney07052006.html
    i'm more a fan of popular bands.. like the bee-gees, pearl jam
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    know1know1 Posts: 6,763
    The economy is extremely strong right now. Not sure where you're coming up with the doom and gloom prognostication.
    The only people we should try to get even with...
    ...are those who've helped us.

    Right 'round the corner could be bigger than ourselves.
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    DPrival78DPrival78 CT Posts: 2,259
    just because the tv says the economy is strong, it doesn't make it true
    i'm more a fan of popular bands.. like the bee-gees, pearl jam
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    know1know1 Posts: 6,763
    DPrival78 wrote:
    just because the tv says the economy is strong, it doesn't make it true

    No. But the performance of my mutual funds, the multiple interest rate raises by the Fed, the unemployment and new job numbers, etc. say that it is.
    The only people we should try to get even with...
    ...are those who've helped us.

    Right 'round the corner could be bigger than ourselves.
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    rightonduderightondude Posts: 745
    The money thing is a mere illusion - smoke and mirrors.. I can sell a horse for 1 billion dollars to my buddy he can then sell it back to me for 1 billion + $20. I just paid my buddy back the $20 I owe him.

    What kind of jobs are being created? skilled or unskilled? high paying or low paying?
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    my2handsmy2hands Posts: 17,117
    know1 wrote:
    No. But the performance of my mutual funds, the multiple interest rate raises by the Fed, the unemployment and new job numbers, etc. say that it is.



    ask average joe how the economy is doing , he will wipe his ass with your mutual fund

    stagnant wages and rising cost of living are the real economic indicators for main street USA, not Wall Streets bottom line
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    my2handsmy2hands Posts: 17,117
    rightondude wrote:
    If you borrow money and do not repay it, you may be given the opportunity to repay your debt by means of forced labour in a prison camp.



    .
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    i am not buying this one
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    surferdudesurferdude Posts: 2,057
    my2hands wrote:
    ask average joe how the economy is doing , he will wipe his ass with your mutual fund
    I'd rather ask the average joe how his continuing education is going. Or what he's doing to ensure that his and his familiy's financial situation is improving and can continue to improve.
    “One good thing about music,
    when it hits you, you feel to pain.
    So brutalize me with music.”
    ~ Bob Marley
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    my2handsmy2hands Posts: 17,117
    surferdude wrote:
    I'd rather ask the average joe how his continuing education is going. Or what he's doing to ensure that his and his familiy's financial situation is improving and can continue to improve.


    seen the price of an education today? i am thinking about going back, but the $ is a big negative for me?

    i think college is a scam...you only pay for the piece of paper... i could learn most of the stuff on my own, for free?
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    my2handsmy2hands Posts: 17,117
    surferdude wrote:
    I'd rather ask the average joe how his continuing education is going. Or what he's doing to ensure that his and his familiy's financial situation is improving and can continue to improve.


    and lets face it, not everyone is going to go to college, i am sure you did and thats great, but it is not for everyone, and it shouldnt be the only way to make a decent livable wage in the free world? IMO

    shit, my country was built by, and runs on today, blue collar workers
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    AffromanAffroman Posts: 7
    my2hands wrote:
    seen the price of an education today? i am thinking about going back, but the $ is a big negative for me?

    i think college is a scam...you only pay for the piece of paper... i could learn most of the stuff on my own, for free?
    College is great. Its 4 years of doing nothing while being able to drink yourself silly AND goto pearl jam concerts. However, I believe our European friends in places such as Germany provide college for free while also providing good internship programs for young men and women. They also have cultures that encourage drinking and enjoying life, something I believe the blue-collar workers of America will always have while the white collar workers will continue to lead meaningless lives filled with regret and unhappiness. I am of course speaking in generalizations, so please take this as an opinion.
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    surferdudesurferdude Posts: 2,057
    my2hands wrote:
    and lets face it, not everyone is going to go to college, i am sure you did and thats great, but it is not for everyone, and it shouldnt be the only way to make a decent livable wage in the free world? IMO

    shit, my country was built by, and runs on today, blue collar workers
    I never specified where to continue your education. A blue collar worker with a couple of trades tickets will always be able to provide for his/her family. Education does not need to be college or university. It can be a blue collar worker taking a small business course so they can learn how to work for themselves. Have you seen how much a good, self-employed plumber makes.
    “One good thing about music,
    when it hits you, you feel to pain.
    So brutalize me with music.”
    ~ Bob Marley
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    Eliot RosewaterEliot Rosewater Posts: 2,684
    know1 wrote:
    The economy is extremely strong right now. Not sure where you're coming up with the doom and gloom prognostication.
    roflmao....far from strong. Record debt will take this country down, mark my words. Goddamn republicans, anyway.
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    rightonduderightondude Posts: 745
    Originally Posted by rightondude
    If you borrow money and do not repay it, you may be given the opportunity to repay your debt by means of forced labour in a prison camp.

    my2hands wrote:
    i am not buying this one


    What's up with all the concentration camps being built in the US? last I heard about 800 of them?! correct me if I'm wrong on this 1.

    I'm not sure I would rule 100% that out very easily
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    boxwine_in_hellboxwine_in_hell Posts: 1,263
    Affroman wrote:
    College is great. Its 4 years of doing nothing while being able to drink yourself silly AND goto pearl jam concerts. However, I believe our European friends in places such as Germany provide college for free while also providing good internship programs for young men and women. They also have cultures that encourage drinking and enjoying life, something I believe the blue-collar workers of America will always have while the white collar workers will continue to lead meaningless lives filled with regret and unhappiness. I am of course speaking in generalizations, so please take this as an opinion.

    Yeah and the average German pays about 55% income tax, so before you think they have it so great, think about that for a moment. Over half your paycheck going to the state. Now granted they get free health care and 8 weeks of vacation. Not a bad trade off. There's no perfect system I suppose.
    one foot in the door
    the other foot in the gutter
    sweet smell that they adore
    I think I'd rather smother
    -The Replacements-
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    rightonduderightondude Posts: 745
    boxwine_in_hell wrote:
    Yeah and the average German pays about 55% income tax, so before you think they have it so great, think about that for a moment. Over half your paycheck going to the state. Now granted they get free health care and 8 weeks of vacation. Not a bad trade off. There's no perfect system I suppose.

    Is school still free in Germany i.e. university?
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    boxwine_in_hellboxwine_in_hell Posts: 1,263
    Yes it is, but you must pass an exam to be accepted so if you're a dummy you're kind of screwed.
    one foot in the door
    the other foot in the gutter
    sweet smell that they adore
    I think I'd rather smother
    -The Replacements-
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    rightonduderightondude Posts: 745
    boxwine_in_hell wrote:
    Yes it is, but you must pass an exam to be accepted so if you're a dummy you're kind of screwed.

    Not too many dummies in Germany from what I can see, but if I'm wrong, just move on over to the US of A and you'll fit right in.
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    decides2dreamdecides2dream Posts: 14,976
    surferdude wrote:
    I never specified where to continue your education. A blue collar worker with a couple of trades tickets will always be able to provide for his/her family. Education does not need to be college or university. It can be a blue collar worker taking a small business course so they can learn how to work for themselves. Have you seen how much a good, self-employed plumber makes.



    very true.
    i know many a 'blue collar' worker who's salary would be the envy of many a 'white-collar' worker. a skill is a skill, whether that skill be a computer programmer or a master craftsman.

    boxwine in hell wrote:
    Yeah and the average German pays about 55% income tax, so before you think they have it so great, think about that for a moment. Over half your paycheck going to the state. Now granted they get free health care and 8 weeks of vacation. Not a bad trade off. There's no perfect system I suppose.

    also the small hurdle of learning to speak german. :p

    if you add up the cost of 8 weeks vacation, a lifetime of government-funded healthcare and a university education, that 55% doesn't sound nearly as bad...but yes, more than half? yikes. i wonder if we americans added up our costs, what kind of percentage it would end up being? hmmm......
    Stay with me...
    Let's just breathe...


    I am myself like you somehow


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    boxwine_in_hellboxwine_in_hell Posts: 1,263
    decides2dream wrote:
    very true.
    i know many a 'blue collar' worker who's salary would be the envy of many a 'white-collar' worker. a skill is a skill, whether that skill be a computer programmer or a master craftsman.




    also the small hurdle of learning to speak german. :p

    if you add up the cost of 8 weeks vacation, a lifetime of government-funded healthcare and a university education, that 55% doesn't sound nearly as bad...but yes, more than half? yikes. i wonder if we americans added up our costs, what kind of percentage it would end up being? hmmm......

    There's your homework project. Get back to me on those figures ASAP
    one foot in the door
    the other foot in the gutter
    sweet smell that they adore
    I think I'd rather smother
    -The Replacements-
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    binauralsoundsbinauralsounds Posts: 1,357
    know1 wrote:
    The economy is extremely strong right now. Not sure where you're coming up with the doom and gloom prognostication.

    that's what the majority do here, just gloom and doom 24 hours a day. No wonder they're always in a bad/pissed off mood.
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    know1know1 Posts: 6,763
    my2hands wrote:
    ask average joe how the economy is doing , he will wipe his ass with your mutual fund

    stagnant wages and rising cost of living are the real economic indicators for main street USA, not Wall Streets bottom line

    I am average Joe and I was contributing money to mutual funds through my 401K even when I was less-than-average Joe...
    The only people we should try to get even with...
    ...are those who've helped us.

    Right 'round the corner could be bigger than ourselves.
  • Options
    Pacomc79Pacomc79 Posts: 9,404
    mmmm not exactly, but it could be a lot stronger. Especially if we changed the tax structure. Of course that would mean the largest transfer of power from government to the people since this country was founded and it would take a huge grass roots movement of people voting for it, but yeah it could happen.

    Changing the income tax to the fair tax (consumption tax + prebate) would broaden the tax base considerably and would be at least revenue neutral. It's really the only good answer to Social Security and Medicare costs, even though they both need to be reformed anyhow.
    My Girlfriend said to me..."How many guitars do you need?" and I replied...."How many pairs of shoes do you need?" She got really quiet.
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    rightonduderightondude Posts: 745
    binauralsounds wrote:
    that's what the majority do here, just gloom and doom 24 hours a day. No wonder they're always in a bad/pissed off mood.

    Oops I forgot the world is humming along quite nicely these days... which rock do you perhaps live under again?
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