The tide grows stronger...

[ChunkyMonkey]

Respectfully, I'm going to have to disagree there. I don't see us nearing a collapse soon. If you look at the wealthy in this country, we could have the continuation of our national debt for years, and these people won't even bat an eye. My GF's aunt for one- she can afford to give her daughter $60K a year, for just being her daughter. I've met some folks (one is my GF's client) who can afford not only the biggest damn house I've seen in some time, but also a brand new S600 every year. And he has his money planned out for the next 30 years or more. I just don't see us collapsing anytime in the near future. Of course, I could be wrong...

People's wealth has nothing to do with bad policies which may cause high cost of living for the average folks. I.E. Shah's Iran, more recently Qatar's riots/unrest. You cannot legistate out of debt by charging the wealthiest either.. i.e. current France.

[Zundfolge]

Respectfully, I'm going to have to disagree there. I don't see us nearing a collapse soon. If you look at the wealthy in this country, we could have the continuation of our national debt for years, and these people won't even bat an eye.

As long as the dollar itself never collapses then you're right. It took the Russians almost 70 years to burn through the Czars' wealth and they were full blown Communist.

Problem is I suspect when the collapse happens here it will be because the dollar becomes worthless almost over night, and since most of the wealth of the wealthiest Americans is tied up in intangible paper, it'll go "poof" and then the shitstorm starts.


I've said to several people, several times in the recent weeks I feel like we're in a race between tyranny and collapse ... and I'm hoping for the collapse because at least then the mass death will be indiscriminate and inefficient instead of organized and efficient.

[hatidua]

If you look at the wealthy in this country, we could have the continuation of our national debt for years, and these people won't even bat an eye. My GF's aunt for one- she can afford to give her daughter $60K a year, for just being her daughter. I've met some folks (one is my GF's client) who can afford not only the biggest damn house I've seen in some time, but also a brand new S600 every year. And he has his money planned out for the next 30 years or more.

It doesn't matter if Bill Gates and Warren Buffet are both uncles of yours and you golf with them on the weekends - we all know a few folks who are loaded. However, stop the welfare payments, nationwide, for six weeks and it'll make the mess in Egypt/Turkey/Ukraine look like a pleasant picnic in the park on a warm Sunday afternoon. Yes, there are more millionaires in the U.S. in 2014 than at any time in the past but there are also more people on food stamps and welfare than at any point in the past as well. If you research what has caused some of the unrest abroad, it might make that a more poignant thing to consider.

I'm not suggesting I see a collapse but discounting various societal indicators simply because you know a few dozen people for whom money is no object is completely beside the point.

[ChunkyMonkey]

It doesn't matter if Bill Gates and Warren Buffet are both uncles of yours and you golf with them on the weekends - we all know a few folks who are loaded. However, stop the welfare payments, nationwide, for six weeks and it'll make the mess in Egypt/Turkey/Ukraine look like a pleasant picnic in the park on a warm Sunday afternoon. Yes, there are more millionaires in the U.S. in 2014 than at any time in the past but there are also more people on food stamps and welfare than at any point in the past as well. If you research what has caused some of the unrest abroad, it might make that a more poignant thing to consider.

I'm not suggesting I see a collapse but discounting various societal indicators simply because you know a few dozen people for whom money is no object is completely beside the point.

You are such a nice guy..gave too much credit for the entitled.. It only took 2 hours to cause mini riots in Florida last year

[<MADDOG>]

...If you look at the wealthy in this country, we could have the continuation of our national debt for years, and these people won't even bat an eye...

I'm confused on your statement Ronin; how are the wealthy interconnected with our debt? As demonstrated in the past, the wealthy are the 1st ones to get out of dodge when things start getting squirrely...

I also think you underestimate our debt. Five main factors I see: 0% interest, foreign entities are beginning to loose favor with T-Bill's, talk of movement off the petro-dollar, Fed's balance sheet is inflated with Q/E (and it keeps going), and countries are have been stockpiling gold.

On a side note; I had a conversation with a gentleman yesterday, and he has a theory that the current hoopla in CT is a "test vehicle". Five+ years ago, I would have called him nuts. I can't say that now...

[HoneyBadger]

Respectfully, I'm going to have to disagree there. I don't see us nearing a collapse soon. If you look at the wealthy in this country, we could have the continuation of our national debt for years, and these people won't even bat an eye. My GF's aunt for one- she can afford to give her daughter $60K a year, for just being her daughter. I've met some folks (one is my GF's client) who can afford not only the biggest damn house I've seen in some time, but also a brand new S600 every year. And he has his money planned out for the next 30 years or more. I just don't see us collapsing anytime in the near future. Of course, I could be wrong...

All those dollars don't mean a thing when they don't have any real value... (Fiat currency)

[ChunkyMonkey]

All those dollars don't mean a thing when they don't have any real value... (Fiat currency)

You and I should stop brining logic to his post.

[Ronin13]

It doesn't matter if Bill Gates and Warren Buffet are both uncles of yours and you golf with them on the weekends - we all know a few folks who are loaded. However, stop the welfare payments, nationwide, for six weeks and it'll make the mess in Egypt/Turkey/Ukraine look like a pleasant picnic in the park on a warm Sunday afternoon. Yes, there are more millionaires in the U.S. in 2014 than at any time in the past but there are also more people on food stamps and welfare than at any point in the past as well. If you research what has caused some of the unrest abroad, it might make that a more poignant thing to consider.

I'm not suggesting I see a collapse but discounting various societal indicators simply because you know a few dozen people for whom money is no object is completely beside the point.

Oh of course- the welfare folks and the poor will be eating the rich- for lack of a better term, if their gravy train ever stops. And I agree- the one way this country will rip itself apart is when that government money stops flowing to the people who live off of it.

All those dollars don't mean a thing when they don't have any real value... (Fiat currency)

That is a very good point. I think when that time comes we'll have some real problems, but don't discredit this nation's role in the world economy. A lot of other nations depend on us not to fail.

[HoneyBadger]

Oh of course- the welfare folks and the poor will be eating the rich- for lack of a better term, if their gravy train ever stops. And I agree- the one way this country will rip itself apart is when that government money stops flowing to the people who live off of it.

That is a very good point. I think when that time comes we'll have some real problems, but don't discredit this nation's role in the world economy. A lot of other nations depend on us not to fail.

I never suggested that the rest of the world wouldn't suffer when the dollar is only worth the paper it is printed on. It will be bad for everyone.