We are bankrupt, and soon our creditors will stop lending us money. Our industries are defunct. We have lost the War in Iraq, and we will lose our war in Afghanistan as well. In short, America is not number one anymore. The success of Obama’s presidency will be determined by his ability to get that through our heads. FULL ARTICLE
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4 comments ↓
But here’s the question – when the economy keeps crashing, will people understand why?
Such as the fed, government, etc….
I’m sure any continuation of the economic crash is just going to bring more calls for more and more government control in – everything.
That’s an excellent question.
When the Weimar Republic collapsed, the German currency inflated away to nothing. There were communists, anarchists, riots in the streets. The German People were essentially reduced to a barter economy.
Their solution was to elect the Nazis and persecute the Jews.
When the US dollar collapses, we will be in a similar situation. Who are we going to blame, the Chinese, the Mexicans? There is no one to blame.
In my opinion, the patriotic thing to do right now is to tell the American People that they are responsible.
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When the dollar collapses – and it surely will….eventually – we might just find an opportunity.
Last year, I was listening to a talk from Chalmers Johnson – and he was talking about the dollar being unviable – “things that can’t go on forever….don’t” – and said he expected an economic implosion in the coming few years.
He also compared that to Weimar Germany, and thought that, well, such a collapse might be our only hope. The empire isn’t going to let go. The only route for real change is for this evil regime to completely falter.
He went on to opine that this is a dangerous situation – because such collapses have often led to the rise of horrible dictators….such as Hitler.
So, without rambling on too much more, I think that a future economic collapse will bring us something along the lines of what Chalmers Johnson was talking about – potential for something worse (which we’re already on our way towards), or a real chance to start all over again.
betting against obama is ridiculous (is there money in it?) – he didn’t make the mess – he is trying to lead – the stimulous package is an attempt to keep the panic level down – do something constructive IE put some people to work so they can pay bills ect, the stimulous package is a great idea next to bailing out failed companies. That is the big hidden mistake that politicians make – they dont know the kind of exposure they are dealing with. — good to give example – i have not looked recently but JP Morgan had about 1.1 trillion dollars in long term assets – i believe there is exposure to commercial real estate, credit default swaps and “others” that will bring them to put their hand out to US Gov in a big way – the mortage backed securites and complex dirivitives make it difficult JPM to know what their owon esposure is- basic point is politicians sold us on funding banks to save them and create liquidity meanwhile they were burdened with dept they could not even quantify.
I wont bitch without a solution
US needs to reduce spending in a big way– bring our troops home id rather them here protecting us then 2k miles away – but its more important to realize the strongest military powers in the world always collapse because the poor use of that military breaks them financially.
JLK
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