@sparks
With respect to your post #592,

Well said!
As George Santayana said,

"Those who refuse to learn from history are condemned to repeat it."

Deja vu all over again.  This time, though, I think the current repetition will equal the collapse of the Roman Empire for reasons similar to that time period.

Santayana is absolutely right.

--Lee

I hear that when other nations refuse to buy our debt then the dollar will soon crumble.So When you hear that China is not buying our debt and today I heard that they still are.So judgement day is not here yet.I heard some numbers today .The USA owes 14 trillion.China has bought about 900 billion of that debt.
I hear timelines ranging from two years to 70 years but whenever it is.The collapse will catch a lot of people by surprise.

Quote from: triffid on July 18, 2010, 11:01:15 PM
I hear that when other nations refuse to buy our debt then the dollar will soon crumble.So When you hear that China is not buying our debt and today I heard that they still are.

They're reducing the rate at which they buy, I heard on the news.  They're finally deciding to wise up.  The debt is a black hole.  Computer projections fall apart at about 2035 because of just the interest on the debt.  Right.  It's coming to an end, sooner or later.

QuoteSo judgement day is not here yet.I heard some numbers today .The USA owes 14 trillion.China has bought about 900 billion of that debt.

That's just the debt.  The ongoing costs add to that daily.  As I said, "It's coming to an end, sooner or later."

Quote
I hear timelines ranging from two years to 70 years but whenever it is.The collapse will catch a lot of people by surprise.

Stupid people, maybe.  The OU Members should be smart enough to see the trends.  I sure do.

--Lee

Quote from: the_big_m_in_ok on July 12, 2010, 12:45:24 PM
NEWS UPDATE:
http://money.cnn.com/2010/07/02/news/economy/jobs_gone_forever/index.htm?postversion=2010070223

http://news.yahoo.com/s/ap/us_unemployment_benefits_impact

I think the article is right.  Something has to happen to create jobs on a big scale for the economy to get going.  Not happening.




http://finance.yahoo.com/news/Relief-effort-fails-many-at-apf-3302765136.html?x=0

This *hits the nail on the head*.  Tax credits ended and then the bottom the balloon deflated *again*.  More foreclosures coming.  Maybe many, many more.  No end in sight.

--Lee

Quote from: triffid on July 18, 2010, 11:01:15 PM
ars to 70 years but whenever it is.The collapse will catch a lot of people by surprise.

Here's one that is actually sneaking up on everyone slowly:
The whole, average American infrastructure is crumbling from fiscal neglect.  After WWII, Pres. Eisenhower invested heavily in infrastructure after he saw what great things the German Autobahn did for the German economy.

Now, it's over.  Bridges, railroads, roads, power grids, etc. are dilapidated to the point of collapse.  If it isn't the lack of money to keep the economy going, the lack of quality infrastructure will do the rest in a "collapse".

--Lee