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Overunity Machines Forum



I see an economic diasater coming...

Started by the_big_m_in_ok, September 03, 2009, 01:05:30 AM

Previous topic - Next topic

0 Members and 2 Guests are viewing this topic.

Do you think the American economy will ever improve?

Yes, definitely
Possibly, in the long run
No, it will worsen
Undecided

the_big_m_in_ok

@triffid
With respect to your posted Reply #1257:

I agree wholeheartedly.  When my Mom was alive, she canned apples and made sweet pickles out of cucumbers from my parent's retirement property garden.  Her mother taught her how to do it when she was a girl.  Her original ancestors were pioneers in the Midwest.
The canned goods were tasty and healthy, too.

NOTE:
Look out for the economy.  European banks---some in Spain in particular--- have failed stress tests.  Even if American banks pass, some Europeans are weak and all are interconnected to some extent.
Later reedit:
http://www.cnbc.com/id/38451750
This is part of the problem above.  These figures are for Europeans.  American credit default swaps are still selling and were worth at least $1,000,000,000,000,000 (honestly!) when the Great Recession began.  This will be impossible to pay off even if we all live to be 10,000 yrs old.

--Lee
"Truth comes from wisdom and wisdom comes from experience."
--Valdemar Valerian from the Matrix book series

I'm merely a theoretical electronics engineer/technician for now, since I have no extra money for experimentation, but I was a professional electronics/computer technician in the past.
As a result, I have a lot of ideas, but no hard test results to back them up---for now.  That could change if I get a job locally in the Bay Area of California.

triffid

I think our government will extend the debt limit another 2.5 trillion dollars.I don't see them doing anything else.They would have to get rid of the federal reserve to make any real changes.Get rid of their secrecy and their unaccountability. triffid

the_big_m_in_ok

Quote from: triffid on July 18, 2011, 08:32:41 AM
I think our government will extend the debt limit another 2.5 trillion dollars.I don't see them doing anything else.They would have to get rid of the federal reserve to make any real changes.Get rid of their secrecy and their unaccountability. triffid
I'm in the choir right behind you.  Yep, I agree.

The thing is, Europe is a lot weaker than the U.S.  Their economies aren't geared by constitutional mandate to print money like the U.S.  Remember the Weimar Republic?  A loaf of bread cost about several hundred million German Marks, I believe.  The Europeans may eventually be bailed out---by associated default---by us after we bail out their creditor nations like Germany and Britain.

We can't afford that.  Especially now.

--Lee
"Truth comes from wisdom and wisdom comes from experience."
--Valdemar Valerian from the Matrix book series

I'm merely a theoretical electronics engineer/technician for now, since I have no extra money for experimentation, but I was a professional electronics/computer technician in the past.
As a result, I have a lot of ideas, but no hard test results to back them up---for now.  That could change if I get a job locally in the Bay Area of California.

triffid


I guess business as usual is better than no business at all.If our government shuts down no telling what it will take to get it started again.triffid

triffid

Why can't we base our currency on copper or oil?Not gold or silver.Copper seems to be the new gold here in st.Louis.People are willing to break into houses to get it.The governmebt has not really cracked down on copper thieves and the companies that buy it no questions asked.I think I just came up with a new spelling for our indebted government.I give you governmebt instead.triffid