Will the US economy crash?

[Mossy]

Wile E. Coyote has realized something is wrong, but he has not looked down yet.

[68Camaro]

Wile E. Coyote has realized something is wrong, but he has not looked down yet.

That would be Joe Public. Good metaphor.

[John_doe]

I don't think it will completely crash unless the Chinese sell off all US treasuries. This second dip on the housing market may raise some eyebrows, and a double dip recession seems to be more viable.

They have already sold off 97% of their holding in US Treasury debt:

http://cnsnews.com/news/article/china-h ... its-holdin

I can't say I didn't see it coming. Peter schiff woke me up to this reality.

[John_doe]

I don't think it will completely crash unless the Chinese sell off all US treasuries. This second dip on the housing market may raise some eyebrows, and a double dip recession seems to be more viable.

They have already sold off 97% of their holding in US Treasury debt:

http://cnsnews.com/news/article/china-h ... its-holdin

http://m.youtube.com/index?desktop_uri= ... UWSZeM2Vio

[IdahoCopper]

The majority voting sheep vastly prefer the false stability of a slowly swirling toilet bowl, to any hint of rapid change.

There it is in a nutshell.

[Mossy]

They think "someone else" will be the only ones to go down, not themselves.

[Whinstone]

I think it has crashed already and they are trying to buy time by inflating the money. We are the richest country in the world. How long can their strategy last.......the Lord only knows. What then, after it crashes... I don't think it going to be very pretty.Too many "takers" and not enough "givers ".

[68Camaro]

I think it has crashed already ...

That has been mentioned here many times. The economy is walkin' dead. Just a matter of time.

[John_doe]

I think it has crashed already and they are trying to buy time by inflating the money. We are the richest country in the world. How long can their strategy last.......the Lord only knows. What then, after it crashes... I don't think it going to be very pretty.Too many "takers" and not enough "givers ".

That's exactly what a consumerist society is. Takers.

[Mossy]

...Too many "takers" and not enough "givers ".

I don't agree. Not enough "makers". We have too many who "give" someone elses property and wealth, that destroys the motive to "make".

[adagirl]

...We'll get used to a lower standard of living, which will come in the form of less gov't assistance (which almost everyone receives in some form).

That's the big lie, which encourages ever-increasing acceptance of socialism. My family receives zero government assistance, and I know many others also. Unfortunately we are too few, and we're getting fewer by the month. We are the goose that laid the golden egg, and we are slowly being strangled...

We are, at best, in the last 10 years of "America" as I knew it in my youth, that which had a firm connection with the founding fathers. The new America that is being formed (and which really is already all around us) is some other country that I will be forced to remain in because - unfortunately, unlike 400 years ago - there is no other better, freer, place to go to. Not sure which is more sad - the end of America, or the absense of other reasonable options. I don't see a happy end to any of this.

Right on man! We are able to hoard Cu because most of America is complacent and unaware, and a good portion of American's are still asleep and/or welcome Socialsim. Sad but true. All you have to do is turn to history or modern day Socialist countries to see that socialism does not work. Is America toast? I'm not ready to throw in the towel yet, but the prognosis does not look good. We need a constitionalist as President and more in Congress, then maybe we have a chance. Otherwise we are doomed, and if the current President is reelected, I feel we are toast. I am with you, I have looked, and there really is no other better place to go at this point. Seems to me the Elite's plan of a New World Order is taken shape very quickly these days. The few win and the majority lose. For anyone who hasn't read the book "the creature from jekyl island" I strongly recommend it.

[argent_pur]

Did I confuse people into thinking I'm a socialist or something??? I said people will get used to a lower standard of living...not that everyone deserves an equal standard of living! Maybe the word "assistance" was wrong...perhaps "services" would've been a better choice. When you stop and think about all the things the gov't (at every level) taxes you for, you see that almost everyone receives services from the government. Those services are part of our standard of living, and some of those services will be cut or eliminated, but you will still pay taxes as though you were still receiving them. Result: lower standard of living.

[adagirl]

Did I confuse people into thinking I'm a socialist or something??? I said people will get used to a lower standard of living...not that everyone deserves an equal standard of living! Maybe the word "assistance" was wrong...perhaps "services" would've been a better choice. When you stop and think about all the things the gov't (at every level) taxes you for, you see that almost everyone receives services from the government. Those services are part of our standard of living, and some of those services will be cut or eliminated, but you will still pay taxes as though you were still receiving them. Result: lower standard of living.

No confusion here. I think your post opened the door for the anti-socialists to chime in (I'm not implying that you are a socialist). I hear ya loud and clear and agree. THe bottom line is increased taxes and a lower standard of living sounds like socialism. My guess is there are a number of folks on RC that are aware of the dangers faced in the country, and know that we are doomed if the current pres is reelected. Further, I think the topic is on everyone's mind here, and the theme of your post (higher taxes, lower standard of living) just let us talk about it. Its all good. Good post. You got us talking about something that hopefully the country can avoid.

[dytha]

I'm in the slow decline camp and believe its been going on for decades...and all I see when I look around is debt...whether it be someone's personal debt, city govt debt, county govt debt, state govt debt or the federal govt debt...everybody and their brother seems to have too much debt (except for most of those on this forum I'm sure)and then I hear people saying that taking on more debt is required.

I think when a major event like 1929 or 2008 happens it is just the really big boys (those that control the world's central banks) "taking profits" from those below them whether it be Lehman bros or my next door neighbor.

I dont think either political party can fix this and I know one man cannot. Presidents come and go...congress stays the same. One party pushes the welfare state and the other pushes the warfare state and the banksters fund both sides.

[shinnosuke]

I'm in the slow decline camp and believe its been going on for decades...and all I see when I look around is debt...whether it be someone's personal debt, city govt debt, county govt debt, state govt debt or the federal govt debt...everybody and their brother seems to have too much debt (except for most of those on this forum I'm sure)and then I hear people saying that taking on more debt is required.

I think when a major event like 1929 or 2008 happens it is just the really big boys (those that control the world's central banks) "taking profits" from those below them whether it be Lehman bros or my next door neighbor.

I dont think either political party can fix this and I know one man cannot. Presidents come and go...congress stays the same. One party pushes the welfare state and the other pushes the warfare state and the banksters fund both sides.

Excellent post! I agree that we have been in a slow decline, but the slope is much steeper of late. We're like the big rig 18-wheeler going down the mountain road and realizing that the brakes are non-functional. Get out of the way fo the crash if you can.