Ahh, nice, you've reminded me of that excellent essay on American Declinism ver. 5.0:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=234230&highlight=doomed
The myth that Obama saved us from the great depression
- Thread starter Max E.
- Start date
Ahh, nice, you've reminded me of that excellent essay on American Declinism ver. 5.0:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=234230&highlight=doomed
Being an intellectual and frequent poster of a trading and economics board, you might want to read Rogoffs and Reinharts exhaustive study into the relationships of excessive sovereign debt, growth rates, and collapse and default. At the least, read their conclusions (I did). Their research spanned 8 centuries and thousands of data points. The conclusions, which I summed up for Ricter in the post I just made, debt-to-GDP in excess of 90% translates to a -2% headwind. Debt-to-GDP in excess of of 120% translates to a negative 3-5% headwind. According to the experts, its' incredibly rare for a sovereign nation to "out grow" a debt in excess of 120% GDP - meaning they default and/or collapse. America is 2 years from that point. Much of Europe has already passed that point. Greece has already defaulted and their economy contracted by at least 20% (with hundreds of billions in bailout money from the international community, remember). Iceland, went some 200% debt-to-GDP and their Krona crashed by over 50%, and the general economy >20%. A Depression, to be sure. So all does not end well for economies, like ours, that push the limits of public debt to the maximum. And why should they? Sovereigns are no different than people and corporations who rely on outside money to fund their borrowing. Investors have tolerances and when those pain points are reached, the shit hits the fan. I'm not sure why you're so ignorant of economics (this being a trading and investing board, and all?!), but you might wanna study up a bit. Granted, this is the politics and religion board where the regulars aren't expected to know anything about the board they post on, but you're not just ignorant. You're smugly ignorant. Happily dumb.
http://www.economics.harvard.edu/faculty/rogoff/files/Growth_in_Time_Debt.pdf
Ohya. I made a mistake here. The FED would have to monetize most foreign ownership (~38%) plus the stock they already own (12%). After a dollar collapse, the FED will end up owning nearly half of US Treasuries. A quadrupling of their balance sheet. Not a tripling. My bad.
The Chinese Yuan. Maybe the Russian Ruble. The Brazilian Real. Europe and America are going off the cliff together. So what you really wanna do, is put your money in hard commodities. Gold, silver, oil, farmland, maybe equities.
I don't pretend to be, either. The difference is I back up my arguments with actual facts and studies (by academics). You back up your opinion with insults and jibes. Meaningless crap. Not once did you argue the merits of my case, because truth be told, you're simply not qualified. You're in way over your head, and that's obvious. I don't give a shit either way. But don't pretend to be educated or informed about something you know next to nothing about.
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You maybe exactly right, especially since you did not call that a prediction.
But if US got another debt downgrade, investors may buy again, our competetion like the Rusian commies, Euro socialists arent much comp.LOLBut one person can do a lot, you mentioned some good investments. And Jesus Christ did & does a lot . Ben Shalom Bernanke did actually study/write on the great deprerssion, so every little bit helps. Strange but true, President Bush appointed
Ben. Pres Barack reappointed him.
As far as re-electing the King of Egypt, that change is certainly possible. But the historical trend is the Egyptian king & his hellish hosts,went ''forward '' into the Red Sea & drowned. Interesting, they actually tried to retreat, but the King of Egypt had mistreated too many of Gods people, & God drowned the king of Egypt.....................................
More horseshit.
I suppose all of your petty insults about "homeschooling" along with your incessant need to fix grammatical errors and spelling mistakes has absolutely nothing to do with your inflated sense of self.
Although if I got my ass kicked sideways like you did in this thread, I'd back away from calling myself an intellectual as well.
Of course, if/when Achilles predictions do come to fruition, that government pension of yours might be in jeopardy as the nanny state you so admire won't be able to care for your sorry ass.
I'd say that is a bit extreme and unlikely to work out very well, best of luck to you.