US Economy is not Europe - my rant

with "privy" I meant to say privileged so my bad.....I am making up slang....
aside of that, we closed down strong, but I am not sure if this is Europe or realization that the Chinese rate cut will not SAVE US. :)
Quote from HomelyWizzard:

I think that aside of the multis feeling the pinch every time the dollar strengthens, Europeans buying less US exports the main connection is that Greece/California Ireland etc.., are MIRRORS to the US politicos and econ. pundits on the Street. They are looking at the EU 's DEBT woes as a SOBERING forecast whats coming to the US EVENTUALLY. Smart fellows, like Rodgers know this and saw this coming 10 years ago and moved to Asia. Unfortunately not all of us privy just to pack up and move to Singapore.
Germans regret this whole experiment already....
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so the world crashes if oil goes above $120? the economy may slow but pessimists people like to predict the end of the world if certain scenarios fall in place

i think the real issue is for the US to develop technologies to be independent of the Middle East oil




Quote from callmeput:

Continued growth is not an option as long as oil price follows.
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There is only about ~900 billion paper and coin dollars.
There is about ~14 trillion dollars worth of credit supplied by banks.
There is about ~55 trillion dollars in total debt, again, supplied by banks.
What backs the dollar is the faith that the 14 trillion dollars will some day pay the 55 trillion dollars off.
Looks like US is operating a Ponzi/Pyramid scam on global scale since Nixon Shock.
 
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