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Termyn8or -> RE: Pay me $20 (6/30/2010 8:24:45 AM)
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Just for a minute let's get out of Hunky's mind and into mine.
What is the net effect of all this borrowing ?
Try people to think this all the way through, hemming and hawing about 100 tertiary issues means nothing now.
The answer is that it has artificially propped up the effective value of our currency.
It it hadn't happened there could never be such a huge trade imbalance. It would've corrected itself. They say hindsight is 20/20, but dammit I was born in 1960 and it's not my fault, and then it took some time to figure this whole mess out. And a mess it is.
The only way is default, and that will cause the market to correct itself, but instead of happening gradually as it should've it's going to happen alot more quickly, and fewer than ever are ready for it. Personally I don't see how all these people can go to school and get higher degrees in economics and such and not realize this. Either they have known about it for a long time and refused to share the information to further their own wealth, or they are sharp as a bowling ball. It has to be one or the other, there is no other explaination. None.
And to assert that this is OK is tantamount to saying that all your plasma TVs, SUVs and other garbage are worth trading in our sovereignty and security. Was the technology worth it ? Was a chicken in every pot even worth it ?
With our military might we could possibly hold on, but these people are going to want their money. We will not have all the garage anyway but then be in default. And as all this garbage reaches the end of it's product life cycle, we will be unable to afford to repair or replace it. Happy now ? This is not a prediction, it is already happening.
Any of you, say the tranny goes out in your car and the bill is $1,800 to fix it. The car company is out of business. The company you purchased a private service plan from is out of business. Your investments are gone and you are eeking by on $400 a week. Where do you get the money to fix your car ? The mechanic won't take payments and needs the money for at least the part up front, say $1,100. You barely scrape up the $40 for your medication and the pharmacy doesn't deliver. They've had to cut back and are only open banker's hours. Anyone you know who can afford to drive has a job and can't afford to take off work.
Don't think I am some sort of Nostrodamus or something here, this shit is happening RIGHT NOW. And it's coming to you, unless you are incredibly wealthy and have lots of investments offshore. Then it comes to you a bit later. Because if you're not happy yet, I can go into the global implications of the collapse of one of the largest markets in the world.
Prepare for it. Get ready to live like Yule Gibbons or some shit. It IS happening, of that there is no doubt.
The easy life of a caveman is coming back by force of nature. That is because the system has been mismanaged so badly. Soon the rest of the world is going to see our T bills like penny stocks.
Truthfully, our only hope is war, and I mean a BIG one. If you're too old to be a soldier, sorry about your luck. (mine too)
T
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