Is the US in denial over its $14tn debt?

[MartinT]

If you think Greece is in trouble...

http://www.bbc.co.uk/news/world-13906274

It's hard to see how such a debt can be repaid in any of our lifetimes. How do our American members feel about it? Does it directly impact you or does it seem a distant problem?

[goraman]

Oh, it's going to impact us.
The U.S. is going to create massive inflation,making the dollar worth less than 1 cent.
It will take a truck load of dollars to buy single small bag of grocery's.
Then when a small 3 bedroom house is worth Five hundred billion dollars,our debt will be easy to repay.
Hell will all be starving millionaires.

[Neil McCauley]

Oh, it's going to impact us.
The U.S. is going to create massive inflation,making the dollar worth less than 1 cent.
It will take a truck load of dollars to buy single small bag of grocery's.
Then when a small 3 bedroom house is worth Five hundred billion dollars,our debt will be easy to repay.
Hell will all be starving millionaires.

Interesting. Didn't something similar to what you describe take place in Germany between the two World wars?

[Reid Malenfant]

It's all crazy if you take a close look at it :mental: Every country owes money to just about every other country, yet no-one has cottoned on to the fact that the money isn't really there at all :lolsign:

I mean look at it logically, we keep borrowing money to keep this country going (the deficit) & yet if everyone else owes money then in reality it can't exist so the whole system is nuts & bound to go down the pan :bog:

[goraman]

Interesting. Didn't something similar to what you describe take place in Germany between the two World wars?

Yes, the Wiemar republic.

[WOStantonCS100]

If you think Greece is in trouble...

http://www.bbc.co.uk/news/world-13906274

It's hard to see how such a debt can be repaid in any of our lifetimes. How do our American members feel about it? Does it directly impact you or does it seem a distant problem?


It's all crazy if you take a close look at it :mental: Every country owes money to just about every other country, yet no-one has cottoned on to the fact that the money isn't really there at all :lolsign:

I mean look at it logically, we keep borrowing money to keep this country going (the deficit) & yet if everyone else owes money then in reality it can't exist so the whole system is nuts & bound to go down the pan :bog:

Ooooooo... ugly one... ;)

I'll begin (and should probably end) by saying I largely agree with Mark. I tend to think the real issue goes far beyond any one country's deficit, of which many countries appear to be in "unrealistic" territory, if you know what I mean. A big country like the US having trillions owed or smaller countries like the UK owing billions. Seems like ratios to me; and, it's all pretty ridiculous. Throw the IMF in the middle of all of it and we start seeing that debt and greed is the reality of our current "global economy". We're no longer isolated as if one country's debt is simply a product of it's own decisions unrelated to the rest of the world. Things are intertwined with a level of complexity that leaves one utterly incredulous. Of course, the "few" who are wallowing in fortunes as a result of others economic turmoil are happy to see things continue as they are.

I recently viewed the film "JFK". One of the things that struck me about this film was that, as it was pointed out, important, most likely incriminating papers were locked away by the courts originally until 2029, I believe. Why would that be? Well, probably because by then it would be too late to convict anyone of any wrong doing. They would have left the building by then. LOL!!! Cleverly seedy w@nk'rs. What am I getting at? I don't think those benefiting from said crisis care or have any intention on trying to pay it down. Manage it, maybe. Pay it off? I don't think so. I bet they're banking on being long gone before it actually comes to fisticuffs. :fence:

It reminds me very much of the "oil situation". Why is it that everyone doesn't have solar panels on their roof? Well, if we did, the electric company would go bankrupt. We've had better ways of running cars for decades. Why are we still pumping gas? Well, if we did, the oil companies would lose a shed load of money. And all of these people are vehemently fighting for things NOT to change. Likewise, for any country to pay down it's defecit would mean that said country would have to start doing business differently, in a way where somebody, some group of enormously wealthy people, would have to NOT make anywhere near as much money as they are making presently. The US would have to export more, import less. If we did that, those making a fortune off selling Chinese goods in the states would be pissed. Again, those folks don't want any part of that and will fight to keep things the same. I don't mean this to sound simplistic because it obviously goes well beyond that.

"You say you want a revolution. Well, you know. We all want to change the world ..."

How many of us little folks are willing to get bloody to change the way things are. Some countries are doing it right now. We, the "civilized" countries... ...well, apparently we don't want change bad enough. And, the dogs of war continue to operate, same as usual. If things keep going the way they are, I don't think anything less than a mass movement/marches/civil disobedience, to remove the "old regimes" both here and abroad, is going to bring about the change needed. Heaven help us then. As civilized as we are in the US and the UK, we only have to look at history to see that even here in America, policing officials have used force against it's own citizens... ...anyone remember the 1960's!! Dogs, firehoses, assassinations, lynchings, Japanese interment camps, Native American reservations etc. etc. etc.

So, how do I feel about it? :lol: As an American I can truly say I've never been fooled by the "Leave It To Beaver" and "Brady Bunch" America. In the background there has always been some real "wrong" crap going on in America... yea, in the entirety of the world. And, I'm pretty pissed about it. :)

I'll shut up, now... :lol:

[goraman]

So have a beer and wait for the riots to start.
When the shit go's down...
I wonder how it will all play out,uhh badly at best.

[MartinT]

I can't think of any country benefitting very much except for China, who seem to have it all their own way at the moment. We've just signed a big trade deal with them, but we had better not talk about human rights in their presence or they'll go off in a huff.

Oh, and why does the UK give funds to countries like India and China, who have a space programme FFS?

It's all our fault in the first place.

[Clive]

It seems like China has to lend money out to the world so people can afford to buy their goods. They'll own us all in the end, probably that's their plan.