US/world economy may soon come to an end

General Forums Off-topic Chat
#1

After reading todays copy of USA today there was something on the front page that could signify the end of the american and/or world economy as we know it.

It’s likely not going to be long before we’re going to have to help the government pay 53 trillion dollars once the baby boomer generation starts retiring and thus could pose a economic catastrope to the economy as taxes could possibly rise to a crushing amount and other things in efforts to stretch the dollar as far as it can go. Even worse, if the US economy crashes as a result this could mean an ugly downward spiral of the global economy as well, thus causing people all over the planet to suffer as living could become real hard in some situations.

The punch line is enjoy what you can do while it lasts :frowning:

#2

This has been a huge problem for a while, you just heard about it? I don’t think it will drive taxes through the roof and collapse our economy, I think that the baby boomers will just have to go without SS. They’ll all be forced to get jobs saying hi to people at Wal-Mart or something, if their kids won’t take care of them (which they probably won’t).

USA Today is trying too hard to sell magazines and you bought it.

#3

This guy lives in a minuteman silo. His father was hired by Nixon to save democracy from itself and he’s still working hard at it. Because of the secrecy of their mission the family get their copy of USA Today, Time, Newsweek and Life 9 years after we do (after they have been sanitized). He doesn’t really live in KS, that’s just to fool the public. For him it’s hot-off-the-frontpage-news, so bear with him.

%<

#4

Your voice alone kansas is an ugly downward spiral of the human mind which causes the planet to suffer.

#5

We have a subsciption to their paper, they also have it in the money section of usatoday.com but you’ll get a form if you try to get to the article.

#6

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#7

from my point of view here in canada, if you, american reelect Bush then of course we’r screwed, and it wont take the baby boomer to do that.

#8

HAHAHA. That was so overdramatic it was hilarious.
TWO THUMBS UP Sgt.Bilko. Keep it comin.

#9

Ahh yes, “the end of the world as we know it.” I hope you got that issue free somewhere and didn’t actually pay for it. %|

It’s likely not going to be long before we’re going to have to help the government pay 53 trillion dollars once the baby boomer generation starts retiring and thus could pose a economic catastrope to the economy as taxes could possibly rise to a crushing amount and other things in efforts to stretch the dollar as far as it can go. Even worse, if the US economy crashes as a result this could mean an ugly downward spiral of the global economy as well…

You want 53 trillion dollars? No problem. Presto! Congress just “borrowed” 53 trillion dollars from itself, “backed by the full faith and credit of the United States.” Problem solved. This government similarly “borrows” from itself approximately $1 million a minute, 24/7. There are no obligations to pay back the “debt” (simply “borrow” more, without limit), so it obviously isn’t a debt at all. It’s a license to print money. And the world economic system can, has, and will continue to run along with that kind of thing going on continuously by not just this nation but many others. “Money” has not matched reality for a very, very long time. Yet the engines of commerce roll on… feeding people, burying them, and paying for their high-speed internet connections. :smiley:

It might appear to “bankrupt” someone’s ledger-books, but the accountants can simply write in another number. As long as the credits equal the debits in their tiny little world, they are happy; festooned with joy.

In the long run, what the accountants do with their ledger books has precious little to do with the practicalities of actually running human civilization on this planet: feeding people, burying them, and so on. Provided you do not sacrifice your own future for the empty promises contained in those ledger-books, the sun still rises “on the just and on the unjust,” every single day. Go out and watch it rise. Watch it set. “53 trillion dollars” is … a number in a computer database.

Never let an accountant, or a lawyer (or for that matter, a journalist), run your business or your country. Both of them will believe they can; both will believe they should. Neither of them has actually worked for a living, served a real customer, or experienced the real pain of want.

#10

“screw the economy stupid” Which is it, your job or freedom ? That’s to me what it seems to be all about. A Saddam Hussain economy.

#11

You want 53 trillion dollars? No problem. Presto! Congress just “borrowed” 53 trillion dollars from itself, “backed by the full faith and credit of the United States.” Problem solved.

If congress could do that then why do we still have the national debt?

#12

Hmmm…I wait for the day when the rest of the World’s economy will not depend on the U.S. anymore…

#13

National Debt Clock, to watch it tick hit refresh:

http://www.brillig.com/debt_clock/

This isn’t a new problem.

#14

After reading todays copy of USA today there was something on the front page that could signify the end of the american and/or world economy as we know it.

You’ll read doomsday scenarios everywhere…and I’ve been reading them for years… most of the time they don’t come true…

md01

#15

bummer, too bad we are wasting trillions of dollars occupying iraq, and are slated to be there for awhile. :expressionless:

#16

Id be more worried about Japan

#17

Well mainly because stupid terrorists won’t let us leave because that means the country isn’t stable. And about Japan I also found in USA today that there’s going to be huge retirement payments all over the developed world. Japan has the worst though as the people there eligable for retirement will increase to 2 thirds along with a pop. decline.

#18

Actually, the “stupid terrorists” are Iraqi patriots who know the US probably won’t ever leave and they want the military out. They aren’t Saddam supporters or Al-Quaida members, they’re just normal Iraqis who don’t want a US soldier on every corner. You don’t want them here, why is it so hard for you to understand why they don’t want us there?

#19

Then comes this

We usually pull soldiers out when a country becomes stable, we would do this with Iraq but can’t right now because there’s little peace.

#20

well said shbaz.

Alltaken