Timing of the USA economic collapse?

With the National Debt soon to reach 15 Trillion and our GDP only slightly above 14.1 Trillion it's not unreasonable to pose the supposition that the USA defaults and goes bust (figuratively speaking of course).

Economic Collapse

I know we have asked this kind of a question in the past, but that always assumed it would naturally occur, you know, the market would overwhelm the schemes and the whole things caves in. But for this thread, lets suppose the collapse will be orchestrated (which honestly wouldn't be hard).

How and When (note: You can vote on the when in the poll).


Ideas could go like this: I imagine a maid will walk into a posh NY Hotel Room to find The Bernanke swinging from the end of a rope with a curt suicide note apologizing for his complicity in destroying the US.

Or perhaps The Bernanke goes on another TV talk show and breaks down crying..... the initial crocodile tears turn into a real torrent as the Host calls for a "commercial break" (which is kind of comical as it's a CitiBank ad).


anyway, a lot of different scenarios could play out.....

 

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Yeah, like the most likely one.
It won't collapse.

Arthur

 

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I'm placing my bet on late 2012 because of two reasons:

1. Any longer and it would probably be too late to have a decent amount of control over the orchestrating of the collapse. Timing is important, but having control is more important.

2. The Banking Oligarchy would want to know if their pick to be POTUS is going to win - if it looks like they aren't getting their way... they'll pull the plug quicker to maintain that control (and no Obama is not getting elected again). If a Demagogue is winning on a mandate to crush the Banking Oligarchy and prosecute the Banksters (I mean people really going to real jails) then maybe the Banksters cut and run?

As I think the USA is ripe for a Demagogue I'm calling late 2012 (before November 6th obviously).

Now... the question of HOW to blow up the US economy in a timely manner?



History repeats itself so at least we know the Banking Elite will be crushed in due time.

 

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What Bankster would you put in jail, on what charge and what evidence do you have to support said charge?

 

Its already begun, I think, on January 1, 2011. When the Bush tax cuts expired. Now federal, state and local taxes are predicted to rise quite sharply.

Dividend tax - 15% to ?

Capital gains tax - ?

Estate tax - ?

According to Arthur Laffer, 2011 is the year when the economy comes crumbling down. I'm going to be a little more positive and give it another year.

So, go renegotiate those mortgages NOW. You might find yourself a pleasant surprise.

 

Michael you know better than than to think Americans can face such an eventuality even hypothetically or in their imagination. I mean really...

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Because the Banking Oligarchy owns the US government no one is being prosecuted and thus little, if any, information is being made public.

You're question instantly reminded of people who supported the Resource Wars in the ME. Sure Cheney's mates at Halliburton "earned" $100s of Billions of dollars and the whole f*cking adventure was based on scaremongering and lies about WMD... but there's always the come back: What Warmonger would you put in jail, on what charge and what evidence do you have to support said charge?



After following a link Lucy posted I'm interested to watch the documentary Inside Job. In an interview with the Director Charles Ferguson, who has a PhD and 20+ years experience, he says Bankers broke the law and should be prosecuted - and that it is not happening. As to why? One reason he offers is that the POTUS has surrounded himself with a group of individuals from WallStreet as "advisers" and is being given VERY biased advice.

Jesus, Obama makes Bush II and his crew of Halliburton/Oil sheiks look like Saints in comparison. At least we were attempting to secure some of the world's most massive oil reserves.

 

Worst case we hyperinflate- a loaf of bread costs $10.00 and minimum wage is $40 an hour. Our imports go to shit and we have to learn how to make everything ourselves all over again, as our exports are flying off the shelves faster than you can count, 25 hours a day.

And all the while, the FED quickly prints up $14 trillion and pays off all our foreign debt in one fell swoop.

We'd sure have to lean on Canada, Mexico and Saudi Arabia to keep America floating but we'd survive and emerge debt-free.

Federal bankruptcy, without using those words.

And this is your worst case scenario?

 

Naturally we then (inevitably) have to roll out the Amero and wage economic war against Europe. We'll win- we got pot, cocoa beans and coffee- they have tea, fog and the cold. We got rubber, they got plastic.

Of course it's 2100 by now and we're all long dead... but America survives! Si!

 

How will the Fed manage to print all of that money to pay off the debt without completely devaluing the dollar?

 

Meh, there have always been doom and gloom scenarios... not only for the USA and countries seems to rebound pretty well. I personally don't think America will fall anytime soon.

 

The feeling that things will always be as they always were is a very human sentiment and historically, what catches most people off guard.

 

I'm hearing a lot more wishful thinking. The debt of the US has to be measured in terms of the size of its population and economy. Pulling out the staggering numbers and claiming they are pressage collapse is a bit foolish. Places like Japan, Ireland and Britain have far larger debts per capita / when measured by the size of their economies. No collapse there (and for ages).

In fact, the USA just makes the top 20 in external debt (Nations By External Debt) at number 20; and number 14 in debt per capital overall (Overall Debt Per Capita) and is not even in the top 40 in the list of sovereign states by total public debt (Sovereign States By Total Public Debt).

~String

 

As long as you keep the money within America... that is, as long as you're not bleeding out cash like a stuck pig (as we are now) then it really does not matter how much a loaf of bread costs.

A good analogy is food stamps. Nowadays they give debit cards... there's no "food stamp currency" anymore. As long as the money is virtual, it does not matter how much we give to poor people. These virtual food dollars go to the supermarket which in turn writes it off as a tax deduction. Nowhere in this equation did a dollar change hands, the poor got fed, the supermarket got paid and the government did its job.

If all of a sudden you could use your food stamp debit card to buy cigarettes from Russia, that'd throw the whole thing off.

Hyperinflation is not the end of the world. Just say goodbye to all those imports because no one will want our US dollars anymore but that's OK- we can stand to learn how to make our own stuff all over again.

 

...and those with savings?

 

Oh there are no savings, unless you work in manufacturing, in which case you're pulling 60 hour work weeks making plastic shit for Chinese children to toy with.

We got into this mess on our own- do we expect the world to bail us out? We're on our own. So hyperinflate all you want but keep the money at home.

And for Christ's sake- learn how to make your own shit!

 

No-one has any savings? Bejesus!

 

Yeah- we're all basically screwed. Even millionaires today are lamenting the good old days when a million meant something- we're all taking a hit on this one.

But on a positive note, there's a way out of this debacle. We have to hunker down and earn it. Again.

 

Um. No they don't. What kind of idiotic bullshit is that?

I've worked in retail as manager for the past ten years. We most certainly get reimbursed by the government for every food stamp/direction card purchase. The Walmart I worked at (inner city) made about 10% of it's sales ($8.5 million) off the Ohio direction card (food stamps)--that would be one HELL of a "write off" considering the store made a paltry 3.5% profit margin. Funds transfer directly from the Certegy network instantly at the time of purchase from whatever bank Ohio uses. The state of Ohio spent $13.5 billion on welfare programs in 2011 all of which are paid for out of tax dollars.

No write-off or budgetary hocus-pocus, lest the state of Ohio wouldn't have had to go begging hat-in-hand to the federal government to make up the $7 billion shortfall.

No. You're full of shit.

Where the hell did you get all that nonsense?

Except that a huge portion of food that is consumed in the US (especially the fresh stuff in winter) comes from overseas (i.e. fish from Chile, sugar from Venezuela, apples from Brazil, etc) all of which can be bought with food stamps.

~String