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So is a global Great Depression possible?
- Thread starter PICK3
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EarthRider
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i think china will rule the world soon
Is it possible? Of course. Is it going to happen any time soon? Of course not. We're the fucking world power. Us as a nation failing isn't in anyone's best interest.
Will it happen in the future? Until mankind unites to better it'self as a single unified entiey, yeah, it will. Every great nation has failed. There exists no valid argument that we won't be an exception.
On the bright side, we're destroying this rock we live on pretty quickly, so perhaps we'll learn to stand together more quickly... instead of letting shit get to the point were we're killing each other over drinkable water and near-exhausted basic resources.
Will it happen in the future? Until mankind unites to better it'self as a single unified entiey, yeah, it will. Every great nation has failed. There exists no valid argument that we won't be an exception.
On the bright side, we're destroying this rock we live on pretty quickly, so perhaps we'll learn to stand together more quickly... instead of letting shit get to the point were we're killing each other over drinkable water and near-exhausted basic resources.
yea it will happen eventually but as long as we can print more money we will be able to prolong all current problems
"Shit we need 500 billion for the homeless and toothless mufuggas with no jobs"
Treasury: Want us to print more money bro?
"Yea good shit"
"Shit we need 500 billion for the homeless and toothless mufuggas with no jobs"
Treasury: Want us to print more money bro?
"Yea good shit"
^This...there are adults conversing.
Wtf im an Adult
PICK3
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In testimony before congress, Bernanke outlined three options the Fed would consider if the economy does not improve.
Stocks jump as Bernanke talks more stimulus - Business - Stocks & economy - msnbc.com
- The Fed could buy more government bonds to keep interest rates low. That would be the third such program in two years.
- It also could cut interest rates the Fed pays on bank reserves to encourage lending
- and give a more specific time frame for long it planned to keep short-term interest rates near zero
Stocks jump as Bernanke talks more stimulus - Business - Stocks & economy - msnbc.com
calveless wonder
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you're dumb
PICK3
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mrplunkey
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We were in a huge mess before Barry took office because:
1) Our nation's ability to generate revenue via taxation had been impaired (damaged manufacturing sector, non-competitive labor environment, excessive regulation, ridiculous taxation policies).
2) Our spending (primarily via entitlements, but also in discretionary spending and wars) was out of control.
So what did Barry do?
1) He further impaired our ability to generate revenue by hurting the private sector.
2) He increased spending and entitlements.
But it is fair to say Barry didn't change our course -- he just greatly accelerated the course we were already following.
1) Our nation's ability to generate revenue via taxation had been impaired (damaged manufacturing sector, non-competitive labor environment, excessive regulation, ridiculous taxation policies).
2) Our spending (primarily via entitlements, but also in discretionary spending and wars) was out of control.
So what did Barry do?
1) He further impaired our ability to generate revenue by hurting the private sector.
2) He increased spending and entitlements.
But it is fair to say Barry didn't change our course -- he just greatly accelerated the course we were already following.
PICK3
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Do you think we will default on our debt?
Moody’s moves one step closer to downgrading U.S. debt - The Washington Post
Is Bachmann correct when she says we have enough revenue to pay our interest without raising the debt ceiling or defaulting?
mrplunkey
New member
I don't think we'd do a full-blown default. So much of our borrowing is short-term that a default would immediately jack our rates up.
And yes, Bachmann is correct. We do have more than enough revenue to cover interest as well as social security obligations.
The one upside of a shutdown is it would force us to prioritize our spending. I'd like to see where they'd really put the money if they lost access to the US credit card.
Mark my words: If they do reach a deal over the next couple of weeks, it will be a really terrible political compromise that will almost certainly make the situation worse.
What, you think we're going to start some national space agency or join CERN or something?
This world needs to just get the next world war over with, accept that we're not currently sustainable as a species and that natural resources are limited.
The thing I never understood about politics is how they never care about anything but the present... but I suppose that's all the voters care about...
*sigh*
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