The US economy
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.
Last edited by Aikido; 02-17-2006 at 09:26 AM.
Suddenly I don't feel so bad about the British economy.
cant say I know anything about the British economy (but its probably the same in Britain as well, sad to say. good economic policies can be hard to swing...)
And that aikido, is why I hate George Bush Jr. with a passion.
It's incredibly annoying that we've gone into such monstrous debt, all because of the incredibly retarded spending plans of the rebublican party.
I mean, we had a massive surplus, the largest in our nation's history, under clinton, and bush managed to piss it away in 2 years. We had enough that we would've been able to pay off all of our debts in just a year or so. Then bush goes and gets us in a mind-boggling debt.
And he makes NO plans for economic growth, and is STILL cutting the fucking taxes. We need to RAISE taxes, not lower them.
GOD. Well, at least I'm entering into a potentially mult-trillion dollar industry. So my short-term economic future is assured. Or, at least, it is if the economy doesn't crash in the next 5 years or so.
While I doubt that the US debt will become critical, I can easily see it becoming a major economic stumbling block in a few years' time. I also seriously doubt that Bush & co can think ahead more than six months at most, so this fact has probably eluded them completely.
The big problem as I see it is that Bush cuts funding to education and healthcare, while pissing away money on fanciful and ridiculously expensive high-tech military projects which are mothballed before completion anyway. Also, the practice of handing out tax cuts to the rich is absolutely disgusting. As usual, the poor get shafted.
Sadly, fiscal responsibility seems to be a forgotten concept in Washington nowadays. One can only hope that someone has the sense to hit the brakes sooner rather than later.
Let's not forget the imminent oil crash that looms just over a rapidly approaching horizon.
The article explains itself:
Personally, I see these types of events as possitive developments.
Really, what is the age of all those that have participated in this thread, and others that posess similar intellectual qualities. Although that may be over doing it a bit, but I'm sure the answer is quite conspicuos.
the us economy sucks....GO CHINA! but when america gets bombed, i might get stuck in it, i better move soon
but look on the bright side... wasting american lives under the ruse of anti-terrorism beacuse OIL will save us all!!!!
Originally Posted by Ishman
I think it ironic that the thread starter states that he hates ignorance and thats almost all I see in here.