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Post by Xanxabara on Feb 19, 2012 0:17:10 GMT
I was looking at the Obama topic and reading through all the comments. It's really scary to see that no one who posted there felt very positive or comfortable with everything that's going on now. No optimism, all doom and gloom. So, I thought, hmmm...I wonder how people think that America will be a year after Obama wins his second term (conjecture). If things are horrible now, what will be the like in five short years?
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Post by The Ruescher Empire on Feb 19, 2012 16:20:37 GMT
Sadly 5 years for America will be continued stagnation in my view. It will continue to lack political will to turn around its fortunes and infighting will continue to grow. Debt will continue to grow and prospects of paying it back decline rapidly as America becomes second banana to China (some would argue this has already happened). Though perhaps in 5 years a new Congress and President will be elected for change (actual change, not just "promises"). Doubtful, though possible America may get its political will back
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Post by Sabastos on Feb 20, 2012 17:06:29 GMT
My crystal ball says the same thing. The problems we have now are long-term. I don't care with others say but we're in a sort of depression. But, unlike the Great Depression when most nations suffered deflation, stagnation, and high unemployment, we presently have something I think is more dangerous: inflation, stagnation, and high unemployment. And, this time around (unlike the first years of the Great Depression), the government is spending out of control to "fix" the problem leaving us with a long-term debt issue.
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Post by The Ruescher Empire on Feb 22, 2012 22:06:15 GMT
Well lets face it the only thing that fixed America's last depression was World War 2 and the massive spending in such short time it took to fix it. Now I'm not saying spending will fix it this time. Mainly because America cannot spend 100% of its GDP in a span of 3 years again. Now it could if it had actually paid down its debt when times were good, but the government doesn't think that way. Governments (especially America) are simply foolish. With capitalist economies you are suppose to save in the good times and spend in the bad (or at least that's the idea), but instead countries do it backwards. Spend in the good times and save in the bad. It simply doesn't work
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Post by Yávaros on Feb 22, 2012 23:39:24 GMT
We are becoming like many European countries like Greece, Spain, and Italy that are in a lot of trouble. Look at what happened with Iceland. These countries owe more than 100% of their annual GDP. America is now passing in debt what they generate in GDP per year. People do not understand that financing and economics today is not anything like it was after the Great Depression. Back then there was a Gold Standard to help currencies keep their value. That standard was a problem that kept the money supplies from growing which kept the banks from extending credit. But the standard still was existing but in a less strict way. Now gold and silver are commodities, not stores of value. The dollar has value because the world says it does and accepts it with a certain value. What will happen is other countries begin using another currency as a reserve? Can you say Latin American Inflation?
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Post by The Ruescher Empire on Feb 22, 2012 23:56:31 GMT
To be honest I see the American currency being replaced as the reserve currency in the next 20-30 years. Likely with a variety of currencies (Dollar, Euro, Yen, Yuan) as many nations (notably China) are beginning to complain about keeping all one's eggs in a single basket. Honestly you are right about economics, things have drastically changed from back in the Great Depression/WW2 era and economies just don't work as they once did. That and it isn't viable for countries to borrow massive amounts of money and repay them, mainly because the amount to borrow is so much greater and no one pays it back
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Post by Xanxabara on Feb 23, 2012 0:40:52 GMT
The other part of the problem is credit is, I mean, was too easy to get. OOOh, here's a novel thought: why don't we just throw money we don't have on it and it will fix itself. Idiots!
What will America be like in five years? Oh, I shudder to think. The very idea makes me want to throw up worse than that binge and purge cycle I went thought last year so I could fit into that itsy bitsy, tiny weeny, yellow polka dot bikini. No, Bas, I don't have pics to share so don't ask me!
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