I started talking about this in the conspiracy thread, but it occured to me that this is probably not something people are familiar with. and we should all know about this, because I feel it is a potentially serious situation that could devastate the world as we know it.
the main problem I have with the Bush administration is how deeply we are going into debt. Deficit spending is fine, everyone does it. We havent been debt-free in more than 50 years. But if you look at a graph of our NX values, the national debt plummeted, twice in recent history. Once under Reagan, the second under Bush. Bush has single-handedly dropped the net NX from -15% (Clinton dropped it by approx. 1 or 2% overall) to 40%!!!!! 40%!!!!! WHAT THE HELL? how do you spell depression?
Let me paint a picture for you. The only reason we can sustain this amount of debt is because the world is still willing to lend to us, and hence, the dollar is strong. Lets say a few other countries look at that debt and say, "hmm, what if the dollar drops in value... maybe I wont lend to them this time around..." which would be a self-fullfilling prophecy. They dont lend to us, and the dollar drops, more and more people dont lend to us, we cannot recover from this astoundingly high percentage of debt, and all of a sudden, were fucked. The dollar drops hugely, the real estate bubble collapses, and what do we have to show for it? Billions and billions of dollars worth of weapons. Sweet.
The worst part is, this scenario is growin increasingly more likely every day. I would say that within the next 10-15 years, depending, we will be in a major recession. And nobody is doing anything about that. Hell, Bush doesnt care so long as hes not president when it happens.
honestly, im scared. I'm genuinely scared. Because almost nobody realizes this is happening. We're afraid of terrorists? I mean, sure, terrorists suck, but we have more important things to worry about. The state of the US economy affects the entire world drastically. Personally, id take a few planes to a world-wide recession. We have never been in greater debt in our entire history than we are now. Not ever. Not in the Great Depression. Not in any war previous. Hell, not even when we declared independence and went hugely into debt to France did we get this low. And for what? A cursory look at US economic policy from a local to a national scale reveals a horrifying amount of economically devastating political decisions. We go OUT OF OUR WAY to restrict the economic growth, and politicians dont care because people just dont know!!!
I hate ignorance.