IDN Forums - Internationalized Domain Names  
Home | Advertise on idnforums | Premium Membership

Go Back   IDN Forums - Internationalized Domain Names > IDN Discussions > Politics, Philosophy and Economics

Politics, Philosophy and Economics Discuss world events, politics, philosophy and economics.

Reply
 
LinkBack Thread Tools Display Modes
  #1 (permalink)  
Old 29th November 2009, 03:54 PM
drbiohealth's Avatar
Member
 
Join Date: Jan 2006
Posts: 375
iTrader: (0)
Rep Power: 646
drbiohealth is on a distinguished roaddrbiohealth is on a distinguished roaddrbiohealth is on a distinguished roaddrbiohealth is on a distinguished roaddrbiohealth is on a distinguished roaddrbiohealth is on a distinguished road
Dollar/US economy collapse!

http://www.youtube.com/watch?v=eZA0qNsf4m0

What do you guys think?
Reply With Quote
  #2 (permalink)  
Old 1st December 2009, 11:16 AM
CapeBrenton's Avatar
Junior Member
 
Join Date: Oct 2009
Posts: 82
iTrader: (0)
Rep Power: 366
CapeBrenton is an unknown quantity at this point
Re: Dollar/US economy collapse!

I think the dollar is on life support, as is the US economy in general and has been so for quite some time.

The catch is, it's extremely, extremely unlikely that we 'collapse', in spite of the exacerbated sense of immediacy created by the 24 hour news cycle and instant, at-will transfer of information via the net. We will enter a state of elegant decay.

It was inevitable in coming; we devised systems of management, production and commerce that set the world-entire on its ear, but got greedy and put our trust in wizards bearing 'financial theories' rather than the staid and reliable economic fundamentals that seated us in the position we enjoyed for so long... If an epitaph is ever written of the United States, the word "greed" will certainly be contained therein.

The saddest part is that our success was so grotesquely disproportionate in relation to the prior spectrum of human history, we probably had enough fat in our larders to sustain this country and our standard of living for quite some time even absent a meaningful industrial base, but we will be shipping most of what remained to China in the form of interest on accumulated debt.

It's a shame. Our country has some very painful times to go through- both economic and social, that will likely stem from the increasing stratification of wealth and some meaningful demographic shifts that will occur over the next 40 years. We will endure substantial, secular variations from our historical trajectory. In the end, though, assuming the entire ship doesn't sink, I'm fairly confident that there's a decent future ahead. We are the only country in the world that combines the economic engine of free markets with the massive creativity of a generally free people. Until China sheds the intellectual shackles of Communism, the major players in Europe shed economic shackles of Socialism or unless perhaps the Indians concoct a new and totally innovative system completely out-of-the-blue, there isn't another nation on earth which has "this thing" which we have here in America, and I've traveled to plenty to see for myself. Japan tried to become a knock-off of the US and succeeded in some ways, but failed in many others.

I realize people in other countries bitch and moan about America for a litany of reasons and in reading over some posts, it's pretty clear that the culture on this site tends to reflect this dynamic, but I'm not too worried about any of that. Call it smug, call it 'quiet confidence' if you will... I'm pretty sure I know where this trip ends up.

Last edited by CapeBrenton; 1st December 2009 at 11:29 AM..
Reply With Quote
  #3 (permalink)  
Old 1st December 2009, 11:38 AM
Moderator
 
Join Date: Dec 2005
Posts: 7,864
iTrader: (60)
Rep Power: 2196
bwhhisc will become famous soon enoughbwhhisc will become famous soon enoughbwhhisc will become famous soon enoughbwhhisc will become famous soon enoughbwhhisc will become famous soon enoughbwhhisc will become famous soon enoughbwhhisc will become famous soon enoughbwhhisc will become famous soon enough
Re: Dollar/US economy collapse!

Nice post...and I even enjoyed your ending to the story.
The US economy is in deep, deep sh*t, and the only way out is not pretty.
While it's possible, I doubt the resolve will be there until things really hit bottom and by then it may be too late.
Reply With Quote
  #4 (permalink)  
Old 1st December 2009, 11:40 AM
Rubber Duck's Avatar
Veteran
 
Join Date: Sep 2005
Location: Czech Republic (For those of you from USA = Chechnya)
Posts: 15,929
iTrader: (59)
Rep Power: 4504
Rubber Duck has a spectacular aura aboutRubber Duck has a spectacular aura aboutRubber Duck has a spectacular aura aboutRubber Duck has a spectacular aura aboutRubber Duck has a spectacular aura aboutRubber Duck has a spectacular aura aboutRubber Duck has a spectacular aura aboutRubber Duck has a spectacular aura aboutRubber Duck has a spectacular aura aboutRubber Duck has a spectacular aura aboutRubber Duck has a spectacular aura about
Re: Dollar/US economy collapse!

You have already feasted on the fat for a decade!


Quote:
Originally Posted by CapeBrenton View Post
I think the dollar is on life support, as is the US economy in general and has been so for quite some time.

The catch is, it's extremely, extremely unlikely that we 'collapse', in spite of the exacerbated sense of immediacy created by the 24 hour news cycle and instant, at-will transfer of information via the net. We will enter a state of elegant decay.

It was inevitable in coming; we devised systems of management, production and commerce that set the world-entire on its ear, but got greedy and put our trust in wizards bearing 'financial theories' rather than the staid and reliable economic fundamentals that seated us in the position we enjoyed for so long... If an epitaph is ever written of the United States, the word "greed" will certainly be contained therein.

The saddest part is that our success was so grotesquely disproportionate in relation to the prior spectrum of human history, we probably had enough fat in our larders to sustain this country and our standard of living for quite some time even absent a meaningful industrial base, but we will be shipping most of what remained to China in the form of interest on accumulated debt.

It's a shame. Our country has some very painful times to go through- both economic and social, that will likely stem from the increasing stratification of wealth and some meaningful demographic shifts that will occur over the next 40 years. We will endure substantial, secular variations from our historical trajectory. In the end, though, assuming the entire ship doesn't sink, I'm fairly confident that there's a decent future ahead. We are the only country in the world that combines the economic engine of free markets with the massive creativity of a generally free people. Until China sheds the intellectual shackles of Communism, the major players in Europe shed economic shackles of Socialism or unless perhaps the Indians concoct a new and totally innovative system completely out-of-the-blue, there isn't another nation on earth which has "this thing" which we have here in America, and I've traveled to plenty to see for myself. Japan tried to become a knock-off of the US and succeeded in some ways, but failed in many others.

I realize people in other countries bitch and moan about America for a litany of reasons and in reading over some posts, it's pretty clear that the culture on this site tends to reflect this dynamic, but I'm not too worried about any of that. Call it smug, call it 'quiet confidence' if you will... I'm pretty sure I know where this trip ends up.
__________________
All offers to sell are void.
Reply With Quote
  #5 (permalink)  
Old 1st December 2009, 11:47 AM
CapeBrenton's Avatar
Junior Member
 
Join Date: Oct 2009
Posts: 82
iTrader: (0)
Rep Power: 366
CapeBrenton is an unknown quantity at this point
Re: Dollar/US economy collapse!

Quote:
Originally Posted by Rubber Duck View Post
You have already feasted on the fat for a decade!
Arguably, Britain has been feasting on colonial-era fat for the past 100 years, so at minimum, we all know it can be done.
Reply With Quote
  #6 (permalink)  
Old 1st December 2009, 12:40 PM
jacksonm's Avatar
Senior Member
 
Join Date: Feb 2007
Posts: 3,843
iTrader: (26)
Rep Power: 978
jacksonm is on a distinguished roadjacksonm is on a distinguished roadjacksonm is on a distinguished roadjacksonm is on a distinguished roadjacksonm is on a distinguished roadjacksonm is on a distinguished road
Send a message via MSN to jacksonm Send a message via Skype™ to jacksonm
Re: Dollar/US economy collapse!

Quote:
Originally Posted by CapeBrenton View Post
Arguably, Britain has been feasting on colonial-era fat for the past 100 years, so at minimum, we all know it can be done.

There is no more empire, just a small, rainy island overcrowded with non-indigenous, unemployed immigrants from the ex-colonies and violent crime rates surpassing those of anywhere in USA. The sun has set forever on the british empire.

It really is a damned shame what happened to England. Especially that they have stopped using dinner knives while eating.
__________________
.
Reply With Quote
  #7 (permalink)  
Old 1st December 2009, 03:29 PM
Moderator
 
Join Date: Dec 2005
Posts: 7,864
iTrader: (60)
Rep Power: 2196
bwhhisc will become famous soon enoughbwhhisc will become famous soon enoughbwhhisc will become famous soon enoughbwhhisc will become famous soon enoughbwhhisc will become famous soon enoughbwhhisc will become famous soon enoughbwhhisc will become famous soon enoughbwhhisc will become famous soon enough
Re: Dollar/US economy collapse!

Quote:
Originally Posted by jacksonm View Post
Especially that they have stopped using dinner knives while eating.
Reply With Quote
  #8 (permalink)  
Old 1st December 2009, 03:49 PM
jacksonm's Avatar
Senior Member
 
Join Date: Feb 2007
Posts: 3,843
iTrader: (26)
Rep Power: 978
jacksonm is on a distinguished roadjacksonm is on a distinguished roadjacksonm is on a distinguished roadjacksonm is on a distinguished roadjacksonm is on a distinguished roadjacksonm is on a distinguished road
Send a message via MSN to jacksonm Send a message via Skype™ to jacksonm
Re: Dollar/US economy collapse!

Quote:
Originally Posted by bwhhisc View Post

They will soon have to create a new dukedom for Prince Charles, so he can provide a proper title for his second wife Camilla, The Duchess of Fork


__________________
.
Reply With Quote
  #9 (permalink)  
Old 1st December 2009, 06:41 PM
Drewbert's Avatar
Administrator
 
Join Date: Feb 2006
Posts: 6,091
iTrader: (20)
Rep Power: 0
Drewbert is a tad dodgyDrewbert is a tad dodgyDrewbert is a tad dodgyDrewbert is a tad dodgyDrewbert is a tad dodgyDrewbert is a tad dodgyDrewbert is a tad dodgy
Re: Dollar/US economy collapse!

Heh heh.
__________________
It's all jaded style to me.
Reply With Quote
  #10 (permalink)  
Old 2nd December 2009, 06:21 AM
touchring's Avatar
Veteran
 
Join Date: Dec 2005
Posts: 7,547
iTrader: (29)
Rep Power: 1254
touchring is an unknown quantity at this point
Re: Dollar/US economy collapse!

Quote:
Originally Posted by CapeBrenton View Post
I think the dollar is on life support, as is the US economy in general and has been so for quite some time.

The catch is, it's extremely, extremely unlikely that we 'collapse', in spite of the exacerbated sense of immediacy created by the 24 hour news cycle and instant, at-will transfer of information via the net. We will enter a state of elegant decay.

Elegant decay is an illusion. The wealth gained from money printing is an illusion, up to a certain stage, hyperinflation will kick in, and then when all the 401ks get wiped out, what will 80 million baby boomers do??

By then, some resource rich states might want to break away and have their own currency and control their own finances.

Last edited by touchring; 2nd December 2009 at 06:54 AM..
Reply With Quote
  #11 (permalink)  
Old 2nd December 2009, 07:18 AM
Drewbert's Avatar
Administrator
 
Join Date: Feb 2006
Posts: 6,091
iTrader: (20)
Rep Power: 0
Drewbert is a tad dodgyDrewbert is a tad dodgyDrewbert is a tad dodgyDrewbert is a tad dodgyDrewbert is a tad dodgyDrewbert is a tad dodgyDrewbert is a tad dodgy
Re: Dollar/US economy collapse!

Quote:
Originally Posted by touchring View Post
and then when all the 401ks get wiped out, what will 80 million baby boomers do??
Revolt.
__________________
It's all jaded style to me.
Reply With Quote
  #12 (permalink)  
Old 2nd December 2009, 07:27 AM
Drewbert's Avatar
Administrator
 
Join Date: Feb 2006
Posts: 6,091
iTrader: (20)
Rep Power: 0
Drewbert is a tad dodgyDrewbert is a tad dodgyDrewbert is a tad dodgyDrewbert is a tad dodgyDrewbert is a tad dodgyDrewbert is a tad dodgyDrewbert is a tad dodgy
Re: Dollar/US economy collapse!

Gold now at US$1200

Which country was it whose chancellor sold off 400 tonnes at $275/toz in 1999 (against all advice), and then ended up prime minister?

I forget.

What a dumbarse. How the hell does he still have a job?
__________________
It's all jaded style to me.
Reply With Quote
  #13 (permalink)  
Old 2nd December 2009, 07:42 AM
touchring's Avatar
Veteran
 
Join Date: Dec 2005
Posts: 7,547
iTrader: (29)
Rep Power: 1254
touchring is an unknown quantity at this point
Re: Dollar/US economy collapse!

Quote:
Originally Posted by Drewbert View Post
Revolt.
btw, they're prepared.

Quote:
Arming Goldman With Pistols Against Public: Alice Schroeder
Share Business ExchangeTwitterFacebook| Email | Print | A A A

Commentary by Alice Schroeder

Dec. 1 (Bloomberg) -- “I just wrote my first reference for a gun permit,” said a friend, who told me of swearing to the good character of a Goldman Sachs Group Inc. banker who applied to the local police for a permit to buy a pistol. The banker had told this friend of mine that senior Goldman people have loaded up on firearms and are now equipped to defend themselves if there is a populist uprising against the bank.

I called Goldman Sachs spokesman Lucas van Praag to ask whether it’s true that Goldman partners feel they need handguns to protect themselves from the angry proletariat. He didn’t call me back. The New York Police Department has told me that “as a preliminary matter” it believes some of the bankers I inquired about do have pistol permits. The NYPD also said it will be a while before it can name names.
Reply With Quote
  #14 (permalink)  
Old 2nd December 2009, 07:47 AM
CapeBrenton's Avatar
Junior Member
 
Join Date: Oct 2009
Posts: 82
iTrader: (0)
Rep Power: 366
CapeBrenton is an unknown quantity at this point
Re: Dollar/US economy collapse!

Quote:
Originally Posted by touchring View Post
Elegant decay is an illusion. The wealth gained from money printing is an illusion, up to a certain stage, hyperinflation will kick in, and then when all the 401ks get wiped out, what will 80 million baby boomers do??

By then, some resource rich states might want to break away and have their own currency and control their own finances.
I'm willing to bet a substantial sum of money- escrowed, denominated in the medium of your choice (gold, if you wish)- that we don't see anything resembling hyperinflation.

Inflation, for certain... Bad inflation- I'm convinced of it... but please, the words "inflation" and "hyperinflation" are not interchangeable and the difference is not semantic.
Reply With Quote
  #15 (permalink)  
Old 2nd December 2009, 07:54 AM
Drewbert's Avatar
Administrator
 
Join Date: Feb 2006
Posts: 6,091
iTrader: (20)
Rep Power: 0
Drewbert is a tad dodgyDrewbert is a tad dodgyDrewbert is a tad dodgyDrewbert is a tad dodgyDrewbert is a tad dodgyDrewbert is a tad dodgyDrewbert is a tad dodgy
Re: Dollar/US economy collapse!

Quote:
Originally Posted by touchring View Post
btw, they're prepared.
Did you see that dude that showed up at an Obama town hall meeting with an semi-automatic rifle strapped to his back?

Those GS boys will need more than pistols.

The people in the buildings across the street should keep pointing laser pens through their windows. Spook them up a bit more.
__________________
It's all jaded style to me.
Reply With Quote
  #16 (permalink)  
Old 2nd December 2009, 08:50 AM
touchring's Avatar
Veteran
 
Join Date: Dec 2005
Posts: 7,547
iTrader: (29)
Rep Power: 1254
touchring is an unknown quantity at this point
Re: Dollar/US economy collapse!

Quote:
Originally Posted by CapeBrenton View Post
I'm willing to bet a substantial sum of money- escrowed, denominated in the medium of your choice (gold, if you wish)- that we don't see anything resembling hyperinflation.

Inflation, for certain... Bad inflation- I'm convinced of it... but please, the words "inflation" and "hyperinflation" are not interchangeable and the difference is not semantic.
I don't have a timeline, but I believe the final ending will be hyperinflation, a view shared by many today. Bad inflation, very high inflation, these are all alternative terms to hyperinflation.

Hyperinflation may not just be a US problem alone.

http://www.dailyrecord.co.uk/news/bu...6908-21849164/

Quote:
Revealed: Bank of England's £61bn secret loan to keep RBS and HBOS afloat
Are we to believe that there will be no consequence to this? Can ten million people walk away from trillions of dollars of mortgages and credit card debt, without any effect on the monetary system? I'm sure there will be consequences, just that it hasn't manifested itself yet.

Today, China is asking its citizens to stock up gold. Soon, other governments will follow.

Last edited by touchring; 2nd December 2009 at 09:02 AM..
Reply With Quote
  #17 (permalink)  
Old 2nd December 2009, 09:03 AM
touchring's Avatar
Veteran
 
Join Date: Dec 2005
Posts: 7,547
iTrader: (29)
Rep Power: 1254
touchring is an unknown quantity at this point
Re: Dollar/US economy collapse!

Since the pound can be printed freely, why should I pay my debt?

http://www.newsdaily.com/stories/tre...dubai-britain/

More to follow.
Reply With Quote
  #18 (permalink)  
Old 2nd December 2009, 09:46 AM
CapeBrenton's Avatar
Junior Member
 
Join Date: Oct 2009
Posts: 82
iTrader: (0)
Rep Power: 366
CapeBrenton is an unknown quantity at this point
Re: Dollar/US economy collapse!

Quote:
Originally Posted by touchring View Post
Bad inflation, very high inflation, these are all alternative terms to hyperinflation.
No. Not really.
Bad inflation, very high inflation, etc aren't necessarily decoupled from the rudiments of monetary equilibria, whereas "hyperinflation" is.

Inflation can be "bad" or "very high" without remotely approaching the requisite thresholds to be considered "hyperinflation".
Reply With Quote
  #19 (permalink)  
Old 2nd December 2009, 10:12 AM
jacksonm's Avatar
Senior Member
 
Join Date: Feb 2007
Posts: 3,843
iTrader: (26)
Rep Power: 978
jacksonm is on a distinguished roadjacksonm is on a distinguished roadjacksonm is on a distinguished roadjacksonm is on a distinguished roadjacksonm is on a distinguished roadjacksonm is on a distinguished road
Send a message via MSN to jacksonm Send a message via Skype™ to jacksonm
Re: Dollar/US economy collapse!

My take on when hyperinflation will have occurred:

1. The fed begins monthly reporting of inflation percentage increases.

2. Shops in the USA stop accepting credit cards, checks, etc and start demanding payment in EUR cash, for example.


You remember about 15 years ago, when one needed USD cash in order to purchase almost anything valuable in Russia?
__________________
.
Reply With Quote
  #20 (permalink)  
Old 2nd December 2009, 11:01 AM
touchring's Avatar
Veteran
 
Join Date: Dec 2005
Posts: 7,547
iTrader: (29)
Rep Power: 1254
touchring is an unknown quantity at this point
Re: Dollar/US economy collapse!

Quote:
Originally Posted by jacksonm View Post
My take on when hyperinflation will have occurred:

1. The fed begins monthly reporting of inflation percentage increases.

2. Shops in the USA stop accepting credit cards, checks, etc and start demanding payment in EUR cash, for example.


You remember about 15 years ago, when one needed USD cash in order to purchase almost anything valuable in Russia?

Gold for bread - http://www.youtube.com/watch?v=7ubJp6rmUYM

Zimbabwe is lucky, there is gold in the rivers, wild animals to catch, and cassava.
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT. The time now is 08:44 PM.

Site Sponsors
Your ad here
buy t-shirt
מחיר הזהב

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Search Engine Friendly URLs by vBSEO 3.3.0
Copyright idnforums.com 2005

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54