PDA

View Full Version : Civilization May Not Survive Our Debt Load


PSS
08-02-2012, 07:53
http://moneymorning.com/ob/economist-richard-duncan-civilization-may-not-survive-death-spiral/



Kotlikoff estimates the true fiscal gap is $211 trillion when unfunded entitlements like Social Security and Medicare are included.

I'm really curious about the $211 trillion figure and how he got it. If true it puts a real number and raises a question that must be answered by our liberal friends how they plan to sustain that.
roberth
08-02-2012, 08:19
http://moneymorning.com/ob/economist-richard-duncan-civilization-may-not-survive-death-spiral/




I'm really curious about the $211 trillion figure and how he got it. If true it puts a real number and raises a question that must be answered by our liberal friends how they plan to sustain that.

The only way our liberal friends can sustain it is by printing money and eventually the costs of printing money will catch up to them too. They simply won't have the funds to buy the paper and ink, electricity to run the printers and pay the folks to maintain the printers.
HoneyBadger
08-02-2012, 09:06
hyperinflation. boom.
roberth
08-02-2012, 09:30
BOOM is right, Europe is heading for a BOOM right now.

I wonder how long the Germans are going to put up with the irresponsibility of their neighbors. At what point do the Germans say "NO, we're not helping you any more"?
Zundfolge
08-02-2012, 09:38
I'm really curious about the $211 trillion figure and how he got it. If true it puts a real number and raises a question that must be answered by our liberal friends how they plan to sustain that.
It is the liberal plan ... crash the system, destroy capitalism (and thus liberty/freedom) and then you put on the jack boots and REALLY get started.
BushMasterBoy
08-02-2012, 10:08
The masses will just work it off in the FEMA camps...[ROFL1]
Rucker61
08-02-2012, 10:41
BOOM is right, Europe is heading for a BOOM right now.

I wonder how long the Germans are going to put up with the irresponsibility of their neighbors. At what point do the Germans say "NO, we're not helping you any more"?

For truth. They had a hard enough time with the reunification, and now they're supporting all of the ne'er do wells in the rest of Europe. The EU can't last too much longer, IMO. When folks don't want to work or pay taxes (I'm talking to you, Greece) then the house of cards is going to collapse, and hard. I wonder what China's plans are, when that big customer base is gone.
Rucker61
08-02-2012, 10:42
It is the liberal plan ... crash the system, destroy capitalism (and thus liberty/freedom) and then you put on the jack boots and REALLY get started.

Yeah, because everyone wants to give up our standard of living. Besides, I just checked the warehouse, and there are only about 30,000 pairs of jackboots in the inventory. There won't be enough thug jobs for everyone, so the collapse won't be fully supported.
Irving
08-02-2012, 11:12
You don't need all that many thugs because most people will just roll over.
BushMasterBoy
08-02-2012, 11:24
The article is really a facade for the infomercial following this statement...


"Editor's note: Germany's military held a secret investigation into this unsustainable pattern and concluded it could lead to "political instability and extremism."


I couldn't watch all of it because its the same format as late night TV. I am helping prepare my finances by cancelling my satellite TV subscription...
Zundfolge
08-02-2012, 11:26
Yeah, because everyone wants to give up our standard of living. Besides, I just checked the warehouse, and there are only about 30,000 pairs of jackboots in the inventory. There won't be enough thug jobs for everyone, so the collapse won't be fully supported.
No, the liberal elites want all of US to give up our standard of living leaving them to be the oligarchy of elites ruling us with an ironfist and living the high life. Just look at the Soviet Union, most people in abject poverty with the "party officials" living in luxury and with absolute power. I'm guessing since you have access to the warehouse you're part of that liberal elite so whatever you have to say is probably just disinformation anyway. [Tooth]
BushMasterBoy
08-02-2012, 11:36
The Denver Post says the economy is booming! (for prison owning pricks anyways)


http://www.denverpost.com/frontpage/ci_21216589/immigrants-prove-big-business-prison-companies?source=rss
sniper7
08-02-2012, 11:43
maybe we will see crazy hyperinflation and $1,000,000 will be barely enough to buy you a pack of gum. It has happened in other countries....all they do is keep adding 0's on the end of the bank notes.
PSS
08-02-2012, 12:05
The article is really a facade for the infomercial following this statement...


"Editor's note: Germany's military held a secret investigation into this unsustainable pattern and concluded it could lead to "political instability and extremism."


I couldn't watch all of it because its the same format as late night TV. I am helping prepare my finances by cancelling my satellite TV subscription...

Yea. I didn't notice it right away. Here's an article by Kotlikoff.

http://www.bloomberg.com/news/2010-08-11/u-s-is-bankrupt-and-we-don-t-even-know-commentary-by-laurence-kotlikoff.html