Thread: When will we go over the cliff?
#1 When will we go over the cliff?
11-07-2012, 01:23 PM
- Join Date
- Jun 2008
Obama's economic policies are ruinous. As he continues to run up huge national debt, the interest payments on those debts will become a greater strain on the economy. The buyers of our debt will begin to lose confidence in our ability to make payments, resulting eventually in noone buying our debt. Since our money is backed by nothing at all, Obama will order more money to be printed, and more, and more. Hello, hyperinflation. Hello complete collapse of the economy.
Due to folks hyperinflation trucks and trains will stop, people won't go to work at power generation plants, or anywhere else. Drinking water, in most cities depends upon electricity. With the power grid down there won't be any water. Food deliveries to city stores stop and the stores sell bare amid panic buying. Then folks start dying of thirst and later, starvation. If they live long enough.
How long until we begin the fall?
I am guessing about three years.
11-07-2012, 01:26 PM
Maybe the throw away my vote Libertarians can tell you with their Intrade.The difference between pigs and people is that when they tell you you're cured it isn't a good thing.
#4 Get as ready as you can be for whatever may come.11-07-2012, 02:27 PM
It's going to be a long four years. Recovering from them will take a looooong time. I read somewhere (one of the Dune books, I think) that every revolution carries within it the seeds of it's own destruction. The American Revolution was no different, as we are now seeing. We have become Rome.I'd rather have a bottle in front of me than a frontal lobotomy.
11-07-2012, 02:41 PM
0bama has the highest unemployment rate of any incumbent since FDR during the great depression. 23 million people cant find work. The unemployment rate would be 11.4 per cent if the labour force participation rate had remained what it was when he took office in January 2009.
We had 32M people on food stamps when 0bama took office. Today its 48M. 1 in 6 people in poverty despite the massive welfare state we already have.
We have 25% of GDP devoured by the fed govt not including state and local govts. 11% of the GDP is devoured by the private sector trying to respond to fed regulations. $6T in debt in 4 years. Do you know what the interest is going to be on that? And regulatory costs are now $1.7T/ year.
We have looming massive tax increases on Jan 1. Looming massive tax increases under 0bamacare. They are all built into these programs. On you --- not just the rich.
Median family income is down 5%. Whens the last time that happened? We are not even standing in place, we're walking backwards.
Americans are dropping out of the workforce about 4x faster than new jobs are being created. So, three years into the "recovery" the job participation rate -- for men -- is the lowest since 1948. Since the US government began tracking it. Thats the lowest ever recorded.
Norway has been crowned the most prosperous country in the world for the fifth year running. But the U.S. has dropped out of the Legatum Prosperity Index's top ten for the first time to 12th position.
Every American Under 18 Now Owes $218,676. Per person debt is now 35 Percent higher than that of Greece.
Found these items in:
American Enterprise Institute
Bureau of Labor Statistics
Liberalism is just communism sold by the drink.
11-07-2012, 02:46 PM"Today, [the American voter] chooses his rulers as he buys bootleg whiskey, never knowing precisely what he is getting, only certain that it is not what it pretends to be." - H.L. Mencken
- Join Date
- May 2008
- Northern Virginia
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