Timing of the USA economic collapse?

One major aspect of debt based or credit based economies like the US is the (in)ability to produce or save. A balance sheet is not only about the liabilities

How does the US compare with Britain Ireland or Japan in those fields?

One more point about which I am not clear. If the dollar is the global currency and global debt is held in dollars, what happens if the dollar becomes worthless? How does it impact the value of other currencies? What happens to the value of the debt?

 

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I'm not sure individual savings would matter much when considering gov't debt.

Your second question is a good one. Seeing the struggles within the Eurozone makes that alternative a bit uglier.

~String

 

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Other nations will have to devalue their own currencies as well, to maintain exports to the US...Canada is a prime example.

 

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During the S&L crisis in the 1980s over a thousand executives did real jail time.

Check out William Black's book...'The best way to rob a bank is to own one'.

The banking oligarchy supports both parties...so it doesnt matter who gets elected.

 

Good points. Inflations makes saving a waste of time.

One big reason China and Russia and the rest of the world want to trade oil for something other than dollars is because the US is monetizing its debt. The dollar as the world's reserve currency is one big reason why it has not collapsed yet. The dollar is, "too big to fail".

 

Since late 2005 I have said that there would be a run on the dollar with deep long-lasting depression in US & EU to start within a few months following that run. After doing this for a few years, at Baron Max's insistence, I was forced to give some date for my prediction. I picked Halloween 2014 as the "before" date and Halloween 2008 as the "after" date - I.e. set a "6 year wide window" for the run.
Nearly two years ago, without changing the prediction's terminal date, I suggested that Obama and Bernanke would stimulate, growing the debt to make that depression into the "greatest ever" depression, but delay it until Obama's first term is over.* I.e. not until early or mid 2013, but the poll only gives half year window choices in 2013, so I will vote my original limit 2014.
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* Then, I also added the new prediction that Obama will chose not to run for a second term. Saying things like he turned down many high paying law firms (Certainly true as he was editor of the Harvard Law Review and would get many offers several times the already high offers made to typical Ivy League law graduates) to help the poor in Chicago as low paid field service provider. That his kids were soon going to be leaving home, etc. and that he now has to serve his family as he has served his country. Perhaps hinting that he was young enough to return to public service again, later, but now had to attend to his family's needs. (He won't spell out that includes often being away to give $100,000 speeches to various groups.) I.e. Obama is very smart - Mainly he does not want a depression to occur when he is POTUS.

 

I'm not sure if I agree that Obama will give up all that power without a fight ... if he thinks he can win. IMO the man lives in a bubble similar to GW Bush only instead of oil Obama has surrounded himself with Goldie flatterers. They'll tell him he's in with a chance, while they bankroll the next puppet.

See, they NEED Obama to run, so they know who to bankroll to win.

Hell, I wouldn't be at all surprised if they didn't pick Palin and if the Media tells Americans to vote for her, vote for her they will.