From a message board- not a world class media but a view from the other side ( of what?)- Hmmm?
American Economic Collapse Not Far Away
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Even More Reasons Why the US Economy Will Collapse:
#21. Five years of drought and Global Warming has caused many farmers in the American mid-west to declare bankrupty. The US is facing a possible food shortage if current drought trends continue. People aren't building enough green houses to grow food.
#22. Rising costs of airplane flights are stifling business trips by companies seeking to do business.
#23. Global Warming is causing record hurricanes, tropical storms, floods and ecological disasters are destroying homes & businesses in the South-Eastern United States. The storms also prevent oil rigs from drilling in the Gulf of Mexico, causing an oil shortage.
#24. We're already in a recession. A depression is not far away.
#25. The White House is being complacent about the US economy and isn't doing a thing to prevent a depression.
According to chief economists, the American economy is so close to collapse its getting scary. But don't take my word for it, see what people in authority have been saying about the US economy:
"The consequences for the US economy of doing nothing could be severe." - Alan Greenspan.
"The world is set to jump off the top of a waterfall without knowing how deep the water is below." - Kenneth Rogoff, IMF (International Monetary Fund) Head of Economic Research.
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The Top Ten Reasons Why the US Economy Will Collapse:
(And by collapse, we mean go into a serious depression.)
#1. The United States government is currently running a budget deficit of $1.8 billion/day. Too much deficit will create a weaker American dollar and cripple the US economy.
#2. The US National Debt is $8 trillion+. It has to be paid back eventually by raising taxes.
#3. Oil prices is $60+ per crude barrel, there is a shortage of oil refineries and demand is growing due to more SUVs/trucks.
#4. China's economy is now bigger than the United States and China is now the centre of the global economy.
#5. China's trade exports out-matches the United States (ie. they can build cars/trucks/SUVs for half the price).
#6. English is no longer the international business language. Mandarin Chinese is now more important.
#7. Global warming is causing the US Wheat Belt to turn into desert.
#8. US universities aren't creating enough graduates to compete on the global market. Tuition is too expensive and there isn't enough university professors.
#9. The babyboomers are retiring, creating a shortage of skilled workers.
#10. George W. Bush failed Economics 101. He was too busy snorting cocaine when he was at Yale.
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"There's a 75% chance that the US will experience a currency crisis within five years." - Paul Volcker, Chairman of the US Federal Reserve.
"There's nobody home on economic policy in America right now. Its an accident waiting to happen." - Stephen Roach, Chief Economist, Morgan Stanley.
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More Reasons Why the US Economy Will Collapse:
#11. Automobile companies keep laying off unionized workers and moving their factories to China. The only car company building new plants and hiring workers is Japanese car-maker Toyota (which only hires non-union workers).
#12. The US government sold off its oil/gasoline reserves in 2002. It no longer has oil reserves in case of a national shortage.
#13. American taxpayers have an average of $48,000 in debt due to credit cards, mortgages, university debts, etc. If the economy goes sour and they lose their jobs, they may have to declare bankruptcy.
#14. The US dollar is notoriously easy to make counterfeit bills of. Its value of the US dollar is growing steadily lower. Thanks to modern computer printers, counterfeit is very easy to make.
#15. The US economy still has not recovered from 9/11.
#16. The US economy relies on the consumption of goods at a decadent rate. If something happens that throws the economy for a loop, it can very easily fall into a depression.
#17. The US capitalist systems assumes that the United States is at the top of the global economy. It no longer is. China is at the top.
#18. Over 60% of Americans are overweight and/or obese. The health problems resulting from their unhealthy diets combined with a shortage of doctors is causing the US healthcare system to collapse.
#19. The US government can't afford to pay for its soldiers serving in Iraq, Afghanistan, South Korea... as a result, they are scaling back pay, pension and benefits for their soldiers. Injured soldiers have a crippling effect on the US economy and drain precious money from US coffers and families of the soldiers suffer economic consequences because they have to pay the hospital bills.
#20. Foreign investors are no longer investing in American companies. They are investing in Chinese companies.
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The Remedy:
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Even More Reasons Why the US Economy Will Collapse:
#21. Five years of drought and Global Warming has caused many farmers in the American mid-west to declare bankrupty. The US is facing a possible food shortage if current drought trends continue. People aren't building enough green houses to grow food.
#22. Rising costs of airplane flights are stifling business trips by companies seeking to do business.
#23. Global Warming is causing record hurricanes, tropical storms, floods and ecological disasters are destroying homes & businesses in the South-Eastern United States. The storms also prevent oil rigs from drilling in the Gulf of Mexico, causing an oil shortage.
#24. We're already in a recession. A depression is not far away.
#25. The White House is being complacent about the US economy and isn't doing a thing to prevent a depression.
According to chief economists, the American economy is so close to collapse its getting scary. But don't take my word for it, see what people in authority have been saying about the US economy:
"The consequences for the US economy of doing nothing could be severe." - Alan Greenspan.
"The world is set to jump off the top of a waterfall without knowing how deep the water is below." - Kenneth Rogoff, IMF (International Monetary Fund) Head of Economic Research.
--------------------------------------------------------------------------------
The Top Ten Reasons Why the US Economy Will Collapse:
(And by collapse, we mean go into a serious depression.)
#1. The United States government is currently running a budget deficit of $1.8 billion/day. Too much deficit will create a weaker American dollar and cripple the US economy.
#2. The US National Debt is $8 trillion+. It has to be paid back eventually by raising taxes.
#3. Oil prices is $60+ per crude barrel, there is a shortage of oil refineries and demand is growing due to more SUVs/trucks.
#4. China's economy is now bigger than the United States and China is now the centre of the global economy.
#5. China's trade exports out-matches the United States (ie. they can build cars/trucks/SUVs for half the price).
#6. English is no longer the international business language. Mandarin Chinese is now more important.
#7. Global warming is causing the US Wheat Belt to turn into desert.
#8. US universities aren't creating enough graduates to compete on the global market. Tuition is too expensive and there isn't enough university professors.
#9. The babyboomers are retiring, creating a shortage of skilled workers.
#10. George W. Bush failed Economics 101. He was too busy snorting cocaine when he was at Yale.
--------------------------------------------------------------------------------
"There's a 75% chance that the US will experience a currency crisis within five years." - Paul Volcker, Chairman of the US Federal Reserve.
"There's nobody home on economic policy in America right now. Its an accident waiting to happen." - Stephen Roach, Chief Economist, Morgan Stanley.
--------------------------------------------------------------------------------
More Reasons Why the US Economy Will Collapse:
#11. Automobile companies keep laying off unionized workers and moving their factories to China. The only car company building new plants and hiring workers is Japanese car-maker Toyota (which only hires non-union workers).
#12. The US government sold off its oil/gasoline reserves in 2002. It no longer has oil reserves in case of a national shortage.
#13. American taxpayers have an average of $48,000 in debt due to credit cards, mortgages, university debts, etc. If the economy goes sour and they lose their jobs, they may have to declare bankruptcy.
#14. The US dollar is notoriously easy to make counterfeit bills of. Its value of the US dollar is growing steadily lower. Thanks to modern computer printers, counterfeit is very easy to make.
#15. The US economy still has not recovered from 9/11.
#16. The US economy relies on the consumption of goods at a decadent rate. If something happens that throws the economy for a loop, it can very easily fall into a depression.
#17. The US capitalist systems assumes that the United States is at the top of the global economy. It no longer is. China is at the top.
#18. Over 60% of Americans are overweight and/or obese. The health problems resulting from their unhealthy diets combined with a shortage of doctors is causing the US healthcare system to collapse.
#19. The US government can't afford to pay for its soldiers serving in Iraq, Afghanistan, South Korea... as a result, they are scaling back pay, pension and benefits for their soldiers. Injured soldiers have a crippling effect on the US economy and drain precious money from US coffers and families of the soldiers suffer economic consequences because they have to pay the hospital bills.
#20. Foreign investors are no longer investing in American companies. They are investing in Chinese companies.
--------------------------------------------------------------------------------
The Remedy:
posted by Pete at 9:37 AM
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