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by Banana Breath plays the piano on August 22nd, 2009

Banana Breath plays the piano

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How likely do you think it is that our most recent economic collapse was just a warm-up for the real thing? The US is going to run a deficit of perhaps 3 trillion in the next year or so. Is this a set up for the perfect storm? (LINK)

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  • by Henderson on August 22nd, 2009

    Henderson

    the recent collapse was the real thing as far as I think and facts indicate. when considered about 13.8 trillion GDP, 3 trillion deficit won't cause that big trouble as I think.

    And most importantly there is no way I think it will reach 3 trillion. I think maximum it will go is 1.5-1.7.

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  • by Anonymous T. Jackson on August 22nd, 2009

    Anonymous T. Jackson

    I think the whole thing was manufactured.
    .
    The people who are in positions to do this have not yet gotten all they want.
    .
    State deficits are going to come into play before the end of the year leading to layoffs of people who thought they had secure government jobs. Some local governments will go bankrupt leading to defaults on retirement payments to retired police, fire, and misc city govt workers. More defaults on mortgages and credit cards.
    .
    Then there will be a discontinuity.
    .
    Who knows what it will be?
    .
    It could be a breakdown of law and order with riots all across the country.
    .
    Maybe an epidemic like swine flu will start killing 10-20 percent of the global population and shift priorities.
    .
    Surprise nuclear attack and invasion by China?
    .
    My hope is that a group of principled soldiers will decide that our democracy has been totally subverted by wealthy special interests and stage a coup and reinstate the democracy sans "Federal Reserve" and Wall Street swindlers.
    .
    Any way ... in answer to your question. I expect things to get worse before the end of this year or next year at the latest based on State budget cycles.
    Then ....
    .
    THE DISCONTINUITY

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