Got a vague word of economist saying the U.S.will be economically doomed in 12 months

[fluffernutter]

actually its not a bad time to be in debt at all... in fact with near 0 interest rates, the govt is stupid and robbing anyone of savings (well, return on savings), the zero interest rate policy hurts savings and thus sound investments but while they are doing that, its not bad to be in debt. in fact, the sooner you can lock in low interest rates or refinance the better. of course, its better to have no debt but these low rates are soon headed for the moon when the US collapses.

as for US economic doom, its all based on US treasuries. we can't keep selling them to the whole world at a measly 2-3% return forever, and in fact the world has already stopped buying them, which is why the federal reserve now has to buy them (they just passed china as the number one holder of US debt... and where do they get the money? the just print it). so, the US was already heading off a cliff, Obama and the FED just stepped on the gas. when the US has failed treasury auctions, that's when the US is doomed. the US dollar will lose its purchasing power, prices of all imports will rise, and the only way to fight that will be for the FED to raise interest rates, but that will bankrupt our big (toobigtofail?) banks. that's not a bill of goods or doom and gloom, thats reality

 

[Werewolf]

Well, sell me all of your valuables for ten cents on the dollar. After all, if we are doomed, you might as well enjoy it now.

I'll do that...

As long as the contract permits me to keep all of my stuff until the collapse at which time I will gladly turn it over to you.

 

[JB Books]

I'll do that...

As long as the contract permits me to keep all of my stuff until the collapse at which time I will gladly turn it over to you.

Nope. I won't go for that. No can do.

I'll do almost anythiiiiiiing for you babe, but I can't go for that. No can do.

 

[redmax51]

Nope. I won't go for that. No can do.

I'll do almost anythiiiiiiing for you babe, but I can't go for that. No can do.

Did you really just call a guy, with the screen name Werewolf, babe?

 

[JB Books]

Did you really just call a guy, with the screen name Werewolf, babe?

Yes Wolfie baby, but don't worry I am saving all my love for you, PH, and S4F

 

[redmax51]

Yes Wolfie baby, but don't worry I am saving all my love for you, PH, and S4F

Don't turn this into another FGST thread!!

 

[tntrex]

Evacuate? In our moment of triumph?

I think you overestimate their chances.

 

[Waterfowler]

Remember the scare of Y2K? People were so scared of what was going to happen, the grocery stores were bare, cars were lined up at the gas stations, and survival packs were flying off of the shelves. It was all very amusing observing the insecurities of so many people!

However, the economic terror our country is truly facing today is somehow going unnoticed by so many. Weird....

 

[Dr. Tad Hussein Winslow]

No, no, no. The world is going to end in 2012, precluding the possibility of economic disaster - sheesh, you worry-wart!

 

[MaddSkillz]

Do you all think the federal government can continue to print and spend and waste as they do without ever encountering a financial catastrophe?

Both Russia and China are taking steps to move away from the dollar. Do you think this will negatively impact an already poor situation for the dollar?

Just seems there's a lot of head burying going on in this thread. Can someone list some positive things the dollar has going for it? Likely scenarios that would keep our current situation from getting any worse?