Cool strawman, bro.

I probably have more shit than most people here and I KNOW it will happen.

Do you really believe at some point "we" will pay back everything "we" owe to ourselves and other nations? Personally I am betting that "they" are hoping to simply reset that shit to zero at some point without paying a single penny.

Most I'll say is in my lifetime - and I'm in my 20s.  Trying to say it will happen within the year, next 18 months is just foolish.  You can never tell.
Things do not look good.  Everything is telling me it will happen.  I hope it does not.

Short a miracle, 60 senators + 51% of the house finding a ball to share, a strong president with vision, or ponies raining from the sky, we will eventually collapse like the Soviet Union did due to our debt.  Personally, I think ponies raining from the sky is the most likely thing to save us.

QFT! QE1,2 and now most likely 3 has put off the inevitable.

Jim

Should have just got a mod to open up the archived post.

You mean overweight, balding IT professionals in their mid 30s with safe queen Noveske N4s  won't be the saviors of the post-apocalyptic world???

Somehow, that subculture believes catstrophy will turn losers into winners.  I cannot think of anything more unlikely to occur.

We know IT Can't Happen Here because it's never happened before.
Just ask someone who lived through the boom times in the 1930s. Everyone had plenty of money and the livin' was easy!

Ahh yes, because there are *so* many other possibilities for a country that can't even keep it's spending within 30% of it's income, and when it "cuts back" it does so by *REDUCING FUTURE INCREASES*.


ETA: Let me put this in terms you will understand.
You are in a car.  It's doing 120mph.  There's a brick wall in front of you.  Everyone agrees the brick wall is there.  You have been accelerating for a long time.  There are two plans proposed, one by the Democrats, and one by the Republicans.  The Republicans propose reducing our future acceleration to 125mph.  The Democrats decry this as reckless, and demand we only reduce future acceleration to 129.5mph.

Which plan results in anything other than disaster?

I think most are talking about a "grocery store is closed" or "there's no gas to be found" collapse.

I just wonder who's going to eat the 4000 pounds of wheat,rolled oats, dried beans and Spam that's stored in the underground bunker.

Well if we are talking "total unequivocal meltdown of trade", no idea. But the economy did "collapse" as per modern vernacular.

Who runs cat-6 in a residence?  Who runs any kind of physical data wiring in a house anymore... everything is wireless.

How about the "There's no prescription medicine." collapse. According to the MSM, that's started.

Your example is based upon flawed assumptions.  It is very easy to pick out people bent on hysterics because their analogies always contain disaster, catastrophe or other similar "sky is falling" events.  

Of course your hypo sounds good.  How else can you lose when you've already stacked the deck using emotion (instead of fact)?

You assume there is a brick wall.  You assume the car is going at ludicrous speed.   In short, you assume doom.

Keep selling hysteria.  It works.  Suckers will eat it up and spend money on nothing.  It worked so well with y2k, bird flu pandemic, race riots ... hell, maybe you can make a buck selling this one too.   Lots of balding, overweight 30 year old IT professionals have cash in their meaty paws, waiting for your doors to open!

No kidding.  I like Sherrick, but his schtick is tiresome.  

With powerfully persuasive and humble postings such as these on the state of the economy, it's a wonder anybody is even talking about that Herman whatshisface. Thank goodness Obama and his crack team of advisers have saved us from economic dire straits.

 

No, I look at the big picture.
Not your shoes.   My family had a "collapse" in 1985, as did many in Oklahoma.  Right in the middle of "Morning in America".  Does that mean the economy collapsed in 1985?
3 years should have shut you all the fuck up.   It didn't.  I wonder even if 10 years will.





 

I'm not gloating.  I'm just pointing out the near global warming type delusion of the economic doomers.





The economy sucks and might be stagnant for a decade.  But it isn't going to collapse.
 

I admit we're in stagflation.

Economic collapse will only happen if one of the following takes place :

Major EMP disaster
Solar flare destroying communications/power
MAJOR natural disaster
WW3
War in middle east with nukes being used (Or anything that causes $10/gal gas).

Never the less I'm not worried about anything outside of these things, I'll make money either way!

There is some good advice in there somewhere.  

Do you bitch to your wife about how all the idiots on the internet are always saying the collapse is coming, then turn around and ask her if you should make another thread about how there will be no collapse?

I used to have a sigline about exactly that. You should have seen the butthurt.

I think it has already happened and we just don't know it yet.

The foreigner in chief is too busy lining the pockets of buds with our borrowed money, that we can never pay back.

Apparently, you think the government can print limitless amounts of money forever with no adverse consequences. History says you're wrong. If you have ever considered the problem and are aware of the history, I'm sure you have constructed lots of reasons in your mind why that history no longer applies.
I make no claim to knowing when the continuous inflation of the money supply will catch up to us, but you may be certain that it will.

I don't think collapse is possible.  By collapse I mean guys riding motorcycles around the wasteland in armor made of football pads and old tires, Lord Humungous style.  

But printing money and unending debt to the point that the American dream is going to skip a few generations, sure.  We're there.  

Congress, this past summer, gave the government the ability to take the U.S. debt to 17 trillion dollars.  Nobody in their right mind believes these morons are capable of cutting spending in any meaningful way.  So, the question is when do we spend enough money that there is no conceivable way of ever repaying our creditors....20 trillion...30 trillion?  Are we

Doom and Gloomers always just change the date when their predictions fail.



http://www.2011judgementday.com/



http://judgementday2011.com/

I predict economic collapse before commercial fusion power; but they are both just around the corner.

Apparently, you don't read a thing I post.

Without a doubt.

The entire deck is currently being reshuffled and the rules of the game rewritten, because the previously existing system has collapsed and cannot be revived in it's previous form.

The OP may have attended classes, whereas I manage the mult- million dollar personal portfolio which is the source of my livelihood.

Here are some of my observations;

Social Security: Collapsed. Not only have the previously existing contributions been exhausted for various reasons and by various means beyomd the scope of this discussion; but the younger generations will not stand for a continuation of the system as it exists.

Real Estate Market: Collapsed. The equity in the average American's home has been for the most part, destroyed or greatly diminished to the point that their equity is often less than the amount owed on the property and the wealth represented by the family home has been ravaged.

Banking; Collapsed. the banking system has survived due to government intervention in the form of bailouts, far neyond merely invoking the protections of the
FDIC.

Currently, the banking system is surviving due to a new paradigm wherein the banks pay depositors virtually 0% interest on their money demonstrating that the banking system can not survive in the normal climate of fair market interest rates.

The Fed will keep introducing money into the system to ensure that there is money circulating through the banking system, which is necessary due to the collapse of the banking system as we previously knew it.

The Equities Markets, Collapsed. Years of gains have disappeared, along with a huge portion of the wealth of Americans, and the major reason to invest in equities is that there are virtually no real returns to be had elsewhere outside of the bond markets which are poised for a huge loss of value  themselves in the almost certain event that interest rates rise even marginally.

If you are recieving a 2% return on a fixed income security and interest rates increase by only 1% from their absurdly low levels, you stand to lose roughly 33% of your portfolio value represented by that investment, and if interest rates climb to only 4%, you stand to lose roughly half of your initial investment.

The American Automobile Industry, Collapsed.  The automobile industry, formally a bastion of high paying American jobs had collapsed and as a result was partially resuscitated by government shenanigans.  Enough has been said about that I suppose.

There's plenty more examples of the demise of the traditional economic system, and no matter which political party gets to run the show, having collapsed, the old game is over and a new one is  incrementally supplanting it.

Bernie Madhoff was correct; government is a Ponzi scheme and the previous scheme has collapsed, having run out of participants and capital so a new one is being created to take it's place.

My biggest problem right now is looking for an investment to accommodate approximately $420,000.00  of opportunity money that I have sitting around earning me basically shit.

I totally realize that I'm not as knowledgeable as the average GD poster but I stil though I'd put in my 2 cents on the subject.


And by the way, when I created the first " You ain't seen bad yet but it's comin' " thread back in I believe, September 2008; unfortunately , events went down
exactly as a suggested they would.
   
And yes; I know I'm gonna' regret hitting the submit button on this post.

Bravo America-First.  I'm glad there's someone else who isn't drinking the Kool-Aid.

I don't think it's a question of time it's a matter of action.

Should the slow slide of inflation turn around and GDP growth become more than 1% for more than a single quarter I think the "doom and gloomers" will be happy to say there doesn't appear to be a collapse in the future.

Sugar coat it or dismiss anyone calling a spade a spade all you want, but our credit rating was downgraded for a reason.  The future isn't looking bright.

Obama is kiting the country's credit card.  In other words he is borrowing money to pay the interest.  That CANNOT go on forever.





Impeach Obama for the Good of the Poor.

Oh, so you think we can pay back 14t?  How?  By the end of Obama's term it'll be at least 15 and probably 16 (excluding fannie may/freddie mac/medicare/medicaid/social security).  The CBO predicts 1t or more in deficit *every year* until 2020.  Also, CBO's current estimate is "Under the President's budget, debt held by the public would grow from $10.4 trillion (69 percent of GDP) at the end of 2011 to $20.8 trillion (87 percent of GDP) at the end of 2021,".  Do you believe 87% debt to GDP is survivable, with only increases in sight?  Would it do any good to mention that that 87% number assumes 5% growth most years between now and 2021?  Do you even know how absurd 5% growth is for a first world economy?

Japan seems to do ok with it's 225.8% debt to GDP.

 

Jesus H Christ.... You are a real piece of work Sherrick... Just can't let it go can you??

OK.. You win.. There has been "no collapse" as you see it.
Plenty of people that I know have seen their own personal "collapse".

Will you get off of your high horse now and leave well enough alone? Enough is enough....
Shit's getting old..


Oh, and Congrats on the little one..

Really. Cause it seems pretty collapsy to me. Perhaps you just have amnesia.

remember gold will never be over $1,000 an ounce.  I am sorry but my dad was right this country is headed the wrong way

No we're sooo much smarter than we were then, can't happen again.

the media and "economic experts" were touting an up tick in the economy the beginning of the week due to "lower then normal" unemployment figures. They throw a party for 1 week of less workers than the week before???

There are no manufacturing jobs left in America like there  use to be. When was the last time a new steel plant, garment manufacturer  or even......................a new Electronics warehouse was built?? No you can't remember because it hasn't happened in decades, we no longer produce goods, we "import" them. The Chinese own the paper on the US. The .gov answer to the economy is.............................PRINT More MONEY.  The greatest one i read is Obama saying those who have been unemployed for a long time should be able to sue the place they applied , BUT were not hired, Yeah thats a true C-I-C sue the fukers, that stimulates the economy, If you're a lawyer!!.

Jobs are out there, but you compete with . whats the average? 1-2K vying for the same job.
That's Doom and Gloom, Like a Yawn it spreads, slowly but surely its Yawn time.  
Great time to buy a house, but you need $20-25% down, thanks barney frank. No it is no the end of the world doom & gloom, but it sure Ain't 'Sunny in Philadelphia"

apparently you think the people will let the government print that money.





 

I don't think the people have any say on what the Federal Reserve does.  All the people can do is scream at their politicians and their elected officials take marching orders from Wall Street, not Main Street.  This goes for both parties.

then why did it stop when carter threw down?  inflation has been tolerated this time around because it hasn't affected more than the bottom ten percent in any significant way.  WHen it hits the middle class hard enough for us to care we vote to stop it and since we are also in a no high tax mood it leaves only one option.  less government spending.



Our economy can grow to cover the credit card bill once we decide we have had enough inflation and high interest rates (which will come later)





 

Carter throw down?  Carter didn't have more money created.  In fact, we had inflation and Carter appointed Paul Volcker as Chair of the Federal Reserve.  Volcker raised interest rates and by 1980, it was 20%.  The lack of money meant a lot of companies and initiated the de-industrialization of this nation.  We started losing steel mills during the Carter era.  That de-industrialization is largely responsible for the destruction of the middle class.

I doubt there will be a total ecomonic collapse but I believe we are headed for another recession after the election.

That is kind of a collapse to me.

Yes, but...  it doesn't effect him, so...  it isn't real.  

Trends are what they are. It's the timing, not the result that's hard to predict. Will feel much less apprehensive if Socialists are replaced by sane people.

Did you vote for QEI? Did you vote for QEII? Did you vote to create more billions to bail out the European banks?
If not and you don't like any of those policies I suggest you get down to the polls and vote out the members of the Board of Govenors of the Federal Reserve System.
When you've accomplished that, get back to me.
It's amazing how little people know about how the game works. No wonder the scam goes on and on!