The US is in debt, we all know this, but what does that mean for the future of the US? Here is the Wiki on the crazy amount of money the US owes: http://en.wikipedia.org/wiki/United_States_public_debt
the US has been in debt for a long time...big deal, when the world ends, none of it will matter anyway. being in debt doesn't keep congress from all its pork projects...
I get the feeling the current administration is also using the "world is gonna end soon anyway" theory to dictate its current policies.
"Uncle Sam wants YOUR SOUL!" Since the world is gunna end, I suppose surrendering habeas corpus and an irresponsible monetary policy are no big deal. Let's just hope the world does end, because we're leaving a nightmare scenario for future generations of Americans.
It means that the US gets owned by whomever controls our debt. Who controls the US debt ? Well that is the question...
Most people on this forum haven't got a clue about the US debt issue - CNN/FOX/NBC haven't told them what to think yet. It will be another year or so before this issue makes it into the consciousness of the average American. Until then you will just get silly/ignorant/dismissive responses like exhibited by d16man above.
Mister, this issue will never make it into the consciousness of the average American: "What _is_ up with Britneys new baby!?" But until then my perspective on this issue is whatever Fox news tell me to think.
We can't all get our doom and gloom news from alex jones and aaron russo. Or is there some magic tin foil hat that beams news in to a select chosen few?
You're wrong. The American dollar is the global reserve currency, and it when it goes, the whole world will feel the affects. Most importantly, most of you in this thread have missed the big point. As long as we use paper currencies that are not backed by gold or silver, debt is something that you can expect. As long as our government borrows money, again, debt is something you can expect. I see that a lot of you guys don't know much about finance. You say that "the U.S. has been in debt for a long time" and you're right, but how long do you think the bankers will let the U.S. stay in debt before they demand repayment? We owe money to China and Japan, and don't think they will accept this forever. Sooner or later, as the dollar continues to fall, the Chinese and Japanese may begin dumping their dollar reserves. Ok, I'm going to do what most people in this thread haven't done: Answer the question. The U.S. national debt levels means that we have a very dark future. It means that we're heading towards a depression that will make the depression of 1929 look like breakfast at tiffanys. Because our currency is not backed by gold or silver, the value of the dollar will continue to fall, and the price of every day goods will go up. In the last two years, the rent for my apartment has went up twice, and the cost of milk and bread today is higher than it was a couple of years ago. The reason for this is because to many dollars are printed by the Fed, and without precious metals backing it, the Fed prints as much as it wants. This naturally leads to inflation...and prices go up, everyday goods are hard to afford, and the standard of living drops. What does it mean for the U.S? A lot of things. Some of them are? 1. The increasing price of goods and services, making it harder for Americans to get by. 2. The poor will become more poor. 3. The middle class will eventually be destroyed. 4. Inflation could lead to hyperinflation, in which you have $20 gallons of milk. 5. Riots could break out similar to 1992 because the population is pissed that their paper dollars is as worthless as tissue paper. 6. The Federal government reacts by declaring martial law, and the president, by using presidential directive 51, as well as other executive orders, can become dictator. 7. Only the rich will survive, because they are smart enough to invest in something other than the dollar. 8. America will no longer be a world power. 9. The banks will begin calling in debts. Americans who can't pay will have their property and or businesses confiscated. Some Americans who cannot pay off their debts may be sent to debtor prison or forced labor camps. Now that I've talked about the results of the U.S. national debt. Let me give you some solution. You are obviously a smart guy for asking such as question and starting a thread like this. The solutions for protecting you and your family: 1. Convert 10 to 20% of the money you have into gold, silver, or both. 2. Start saving money, then buy precious metals to protect yourself from inflation. 3. STAY OUT OF DEBT. DON"T BORROW MONEY FOR ANYTHING. 4. If you're in debt, GET OUT QUICK. If you can't, you're screwed. 5. Become self employed. You can't depend on corporations. 6. Buy a gun. Once the economy goes, the people will become desperate. If you have money or food, you'll be a target. You will need a gun to protect yourself. 7. If you're living in a major city, move someplace smaller. Its going to be worse there. Well, that about sums it up. I've brought precious metals, I'm saving most of my money, I've got my own business, and I don't have any debt. I plan on surviving the 2nd American Depression. I hope you guys do to..................
The US national debt will be the source of the next recession in the western economy, I agree. The first effect will be Interest rates jumping up. The rest is history.
One more thing, and this is probably speculation. The Elite plan to merge the United States, Mexico, and Canada into the North American Union, and this means they will need to switch us to a new currency, which is the Amero. To force over 300 million Americans to switch from the dollar to the Amero, something drastic has to happen, and the best thing I can think of is crashing the economy. The process may go like this: 1. The global bankers continue to devalue the dollar, further weakening the American economy. 2. As the bankers devalue the dollar, they take their own dollars, and convert them into stable investments like precious metals, lands, oil, etc. 3. Once their own money is protected, hey crash the U.S. economy, like they did in 1929. 4. As the dollar falls, the price of silver and gold shoots through the roof, and the Elites, who were smart enough to put their money in rare gold and silver cains, will make a fabulous profit and maintain their wealth while the masses wallow in poverty. 5. Once the smoke and dust clears, the Elites(the same people who caused the dollar crash in the first place) introduce the Amero as the alternative currency, which they had ready all along. 6. Since the U.S. government can't pay back the money it owes, foreign banks take over American land and national resources. 7. Americans who are in debt will lose everything, and become slaves. Well, they're already slaves, but that is another story.
It's a good plan, I'd just add AT LEAST a few months worth of food. I lived through collapse of USSR, and when there is not enough food for everyone you won't be able to buy any even if you were smart enough to move your assets to gold. Currency collapses always result in femine, if history teaches us anything. And self-sufficiency skills, so that you can reduce your dependency on making a living. If economy is bad, it's unlikely you'll make ends meet without cutting costs. If you can repare your car yourself and grow garden, you should be able to maintain decent lifestyle despite your income decreasing.
Demosfen, that is good advice. I forgot all about storing foods. Thats the one thing I haven't done yet. That is really important. Food can become scarce. All the money in the world means nothing if there is no food to buy. Also I like you signature, it is the definite truth. Tyranny does come to a country through the guise of fighting a foreign threat, and that is exactly what is happening in America today. Americans are worried about terrorists, when they should be worried about their economy. There are many prominent economists that agree that the U.S. economy is on the verge of collapse. I hate to burst your bubble, but it isn't easy accepting the truth is it Gtech? Trust me, the faster you accept, the easier it will be in the end. Denial won't get you anywhere. I'll play Devil's Advocate for a moment and claim that you're right about Alex Jones and Aaron Russo. But what about economists Paul Craig Roberts, who served under Ronald Reagan? What about Nobel Prize Winner Joseph Stiglitz? Both of these economists agree that the U.S. economy will continue to fall. Besides, you see what is happening in the real estate market. That is just the beginning. I strongly suggest you take my and Demosfens advice and start saving, staying out of debt, buying precious metals, and getting stored foods if you already haven't. Once you know what hits the fan, it isn't gonna be pretty. Just think Hurricane Katrina on a national scale.
Its nice to see someone around here who knows what they're talking about. I'm not investing in precious metals, though. I'm investing in third-world countries Once the USD falls, other countries will have an easier time getting on their own feet and currency rather than paying interest upon interest. Or thats my crazy theory anyway
Great posts tesla - you know what your talking about. This is basically what I have been doing in Mexico: Have also been stockpiling food (pounds and pounds of rice lol) and fresh water as well. Even though other countries might have their own currency, many of them are closely attached to the USD. The crash in 1929 was done to establish a central bank - which worked nicely. I could imagine some other tragedy like that would be initiated to get the results they are looking for.
We are borrowing 1,000,000,000 a day from China and Japan. They could collapse our monetary system over night if they wanted to.
more than your quote...and did you hear the news? Nick Cage found a buried masonic treasure underneath a church that the founding fathers of this country hid...now we are out of debt.