Militarized Police Departments

[nain rouge]

Um, the US debt is $17 trillion and growing by $4 billion a day.

Debt-to-GDP percentage is far more meaningful than a raw number. And that percentage has been much higher before. The US took on a ton of debt during World War II and it took awhile to bring the debt back within reason.

Granted, the US is racking up a lot of debt currently, and though the country has been involved in several wars, we can all agree that it hasn't been at all comparable to World War II. Now is that enough evidence to say we're heading for collapse?

Not quite. Japan has carried WAY more debt than the US for a long time relative to GDP and is doing OK. Greece and Italy, however, have taken big hits from somewhat similar debt levels to Japan. It all depends on what you can leverage against the debt, and for now the US has a lot to leverage with. Even in a worst case scenario, I don't think what could happen in the US would be any worse than Greece and Italy, both of which never came close to a total collapse of any sort. Just protests and lean times.

[ABetterDetroit]

Debt-to-GDP percentage is far more meaningful than a raw number. And that percentage has been much higher before. The US took on a ton of debt during World War II and it took awhile to bring the debt back within reason.

Granted, the US is racking up a lot of debt currently, and though the country has been involved in several wars, we can all agree that it hasn't been at all comparable to World War II. Now is that enough evidence to say we're heading for collapse?

Not quite. Japan has carried WAY more debt than the US for a long time relative to GDP and is doing OK. Greece and Italy, however, have taken big hits from somewhat similar debt levels to Japan. It all depends on what you can leverage against the debt, and for now the US has a lot to leverage with. Even in a worst case scenario, I don't think what could happen in the US would be any worse than Greece and Italy, both of which never came close to a total collapse of any sort. Just protests and lean times.

Well stated. When I argue with "doomsayers" I always ask 3 questions.
Who sets the interest rate? US federal reserve
What other currency is doing well and even comes anywhere close to being the world standard for trade? None. Euro has already been on the brink of failure, Chinese Yuan? Your kidding right? The US dollar is THE ONLY GAME on planet earth.
What about the 3.5 trillion annual income of US government? Huge some of money largest pot of cash on earth by a long margin bigger than the total GNP of all but the 3 largest economies in the world. That kind of income gives anyone nothing but a huge borrowing potential. Most "doomsayers" I find just want it to happen so bad because they hate the US government so much [[ ain't freedom great ) and deny all the appropriate facts.

[Dan Wesson]

Well stated. When I argue with "doomsayers" I always ask 3 questions.
Who sets the interest rate? US federal reserve
What other currency is doing well and even comes anywhere close to being the world standard for trade? None. Euro has already been on the brink of failure, Chinese Yuan? Your kidding right? The US dollar is THE ONLY GAME on planet earth.
What about the 3.5 trillion annual income of US government? Huge some of money largest pot of cash on earth by a long margin bigger than the total GNP of all but the 3 largest economies in the world. That kind of income gives anyone nothing but a huge borrowing potential. Most "doomsayers" I find just want it to happen so bad because they hate the US government so much [[ ain't freedom great ) and deny all the appropriate facts.

These are the waning days of the U.S.$'s run.

We abused the privilege of maintaining the worlds reserve currency.

Even more important was the lock the $, [[petrodollar), had involving the world's oil and energy trade.

Recently, because of these sanctions against Russia and Iran along with China's annoyance of our devaluing the $'s they hold, Russia, Europe and China have agreed to trade Rubles and Euros in the west and Rubles and Yuan in the east for oil and gas. Bypassing the $.

What is coming are SDR's. Google that.

[ABetterDetroit]

These are the waning days of the U.S.$'s run.

We abused the privilege of maintaining the world's reserve currency.

Even more important was the lock the $, [[petrodollar), had involving the world's oil and energy trade.

Recently, because of these sanctions against Russia and Iran along with China's annoyance of our devaluing the $'s they hold, Russia, Europe and China have agreed to trade Rubles and Euros in the west and Rubles and Yuan in the east for oil and gas. Bypassing the $.

What is coming are SDR's. Google that.

IMF? LOL even funnier than the united nations currency you guys had floating in ships off the coast in days gone by. Who do you think keeps the IMF in business? It's not the Russians or the Chinese I can assure you of that. You are aware that banks or nations outside of Russia and China don't hold much of either of those currencies as a reserve due to the fact that one is pegged by a few communist and the other is printed mostly by gangsters?
There have been many attemps to trade oil in other currencies in the past due to American dislike [[gooogle that some) and it has always ended in failure [[even euro) because one party of the deal was always feeling that they were getting screwed.

Go count your pre 64 silver coins and wait. Reminds me of the time my brother had to prep a house in Florida for the estate sale in the late 90s. The guy had bricked off his garage and had a brand new 1978 jeep CJ in there with a dozen 55s of gasoline, piles of food and guns and such. At the time it was 50k house in a crap neighborhood. He committed suicide and his sisters from out of state hired my brother to liquidate, they hadn't talked to him in years because he had slowly gone insane waiting for "it" to happen.

[Dan Wesson]

IMF? LOL even funnier than the united nations currency you guys had floating in ships off the coast in days gone by. Who do you think keeps the IMF in business? It's not the Russians or the Chinese I can assure you of that. You are aware that banks or nations outside of Russia and China don't hold much of either of those currencies as a reserve due to the fact that one is pegged by a few communist and the other is printed mostly by gangsters?
There have been many attemps to trade oil in other currencies in the past due to American dislike [[gooogle that some) and it has always ended in failure [[even euro) because one party of the deal was always feeling that they were getting screwed.

Go count your pre 64 silver coins and wait. Reminds me of the time my brother had to prep a house in Florida for the estate sale in the late 90s. The guy had bricked off his garage and had a brand new 1978 jeep CJ in there with a dozen 55s of gasoline, piles of food and guns and such. At the time it was 50k house in a crap neighborhood. He committed suicide and his sisters from out of state hired my brother to liquidate, they hadn't talked to him in years because he had slowly gone insane waiting for "it" to happen.

http://www.scmp.com/business/banking...nearer-reserve