• 20 reasons Global Debt Time Bomb explodes soon
    32 replies, posted
[quote]1. [B]Federal Budget Deficit Bomb.[/B] The Bush/Cheney wars pushed America deep into a debt hole. Federal debt limit was just raised almost 100% with Obama's 2010 budget, to $14.3 trillion vs. $7.8 trillion in 2005. The Congressional Budget Office predicts future deficits around 4% through 2020. Get it? America's debt at 84% of GDP will soon pass that toxic 90% trigger point.2. [B]U.S. Foreign Trade Bomb.[/B] Monthly deficits actually dropped from $50 billion per month to roughly $35 billion. But the total continues climbing as $400 billion is added each year. Foreigners now own $2.5 trillion of America, with China holding over $1.3 trillion in Treasury debt. 3. [B]Weakening U.S. Dollar as Foreign Reserve Currency Bomb.[/B] Fear China and other currencies will replace dollar as main foreign reserves. The dollar's fallen: The main index measuring dollar strength has gone from 120 at the Clinton-to-Bush handoff to below 80 today. 4. [B]Cheap Money Bomb: Credit Ratings Down, Rates Up.[/B] Economists at S&P, Fitch and Moody's were totally co-conspirators of Fat Cat Bankers, misleading investors before meltdown: Soon, debt up, ratings down, interest rates soar. 5. [B]Global Real Estate Bomb.[/B] Dubai Tower, new "world's tallest building" is empty. BusinessWeek warns that China's housing collapse could be worse than America's. Plus the U.S. commercial real estate bubble is now $1.7 trillion, a "ticking time bomb" bloating 25% of bank balance sheets. 6. [B]Peak Oil and the Population Bomb.[/B] China and India each need 500 new cities. The United Nations estimates world population exploding 50% from 6 billion to 9 billion by 2050: Three billion more humans demanding more automobiles, exhausting more resources to feed their version of the gas-guzzling "America Dream." 7. [B]Social Security Bomb.[/B] We have no choice; eventually we must either cut benefits or raise taxes. Politicians hate both, so they'll do nothing. Delays worsen solutions. Without action, by 2035 Social Security and Medicare benefits will eat up the entire federal budget other than defense. 8. [B]Medicare: A Nuclear Bomb.[/B] Going broke faster than Social Security. Prescription drug benefit added an unfunded $8.1 trillion. In 5 years estimates rose from about $35 trillion to over $60 trillion now. 9. [B]Health-care Insurance Bomb.[/B] Burden increasingly shifted to employees. Costs rising faster than inflation. Recent Obamacare plan would have cost $90 billion annually, paid to Big Pharma and insurers. 10. [B]State and Local Government Budget Bombs.[/B] Deficits of $110 billion in 2010, $178 billion in 2011on top of more that $450 billion in underfunded state and municipal employee pension funds. 11. [B]Underfunded Corporate Pensions Bomb.[/B] From $60 billion surplus in 2007 to $409 billion deficit in 2009. And a whopping 92% of the pension plans of companies are now underfunded. Defaults are guaranteed by taxpayers. 12. [B]Consumer Debt Bomb.[/B] Americans are still living beyond their means. Even with a downturn, consumer debt rose from about $2.3 to $2.5 trillion. Fat Cat Bankers love it -- yes love making matters worse by gouging cardholders and mortgagees, blocking help in foreclosures and bankruptcies. 13. [B]Personal Savings Bomb.[/B] Before the 2008 meltdown savings rate dropped from about 10% in the early 1980s to below zero. Now it's increasing, slowing retail recovery. Today, government's the big "unsaver." 14. [B]War and Military Defense Deficits.[/B] Costs of Iraq and Afghanistan wars -- $200+ billion annually, $3 trillion minimum, with massive long-term costs for veteran medical care, equipment renewal, recruitment. 15. [B]Homeland Insecurity Bomb. [/B]Security at airports, seaports, borders, vulnerable chemical plants all increase budgets. 16. [B]Fed/Treasury Bailout Bombs.[/B] Tax credits, loans, cash and purchase of toxic assets from Wall Street banks estimated at $23.7 trillion as new debt was shifted from too-big-to-fail Fat-Cat banks to taxpayers. 17. [B]Insatiable Washington Lobbyists Bombs.[/B] Paulson, Goldman, Geithner, Morgan and Wall Street banks, through their lobbyists and former employees working inside now have absolute power over government spending. Democracy and voters are now irrelevant in America's new corporate-socialism. 18. [B]Shadow Banking: The Derivatives Bomb.[/B] Wall Street wants no regulation of this $670 trillion, high-risk, out-of-control casino that's highly leveraged versus the $50 trillion total GDP of all nations. We forget that derivatives almost destroyed global economies in 2008-09, finally will by 2012. 19. [B]Dysfunctional Two-Party Political Bomb.[/B] Polarized partisanship increasing: Every day both parties show zero interest in cooperating for the public good. Instead they fight viciously, resisting everything and anything proposed by opponents. Only goal: Score political points, make the other side look bad. 20. [B]The Coming Populous Rebellion Bombs.[/B] Nobody trusts anyone in authority. For good reason. So immediate gratification, short-term betting and a lack of long-term perspective wins for individual investors, consumers and taxpayers as well as Washington, Wall Street and Corporate America CEOs. Today: "Doing what's right for the common good and country" is just empty political rhetoric.[/quote] Source: [URL="http://www.marketwatch.com/story/our-debt-time-bomb-is-ready-to-go-ka-boom-2010-02-02?pagenumber=2"]http://www.marketwatch.com/story/our-debt-time-bomb-is-ready-to-go-ka-boom-2010-02-02?pagenumber=2 I[/URL] saw this coming a mile away. I agree with most of it.
Well, I guess we're fucked.
[QUOTE=RubberFruit;32875851]Well, I guess we're fucked.[/QUOTE] At least this will be a good lesson for corrupt politicians and the history. ...[b]I HOPE[/b].
[QUOTE=GlebGuy;32875864]At least this will be a good lesson for corrupt politicians and the history. ...[b]I HOPE[/b].[/QUOTE] I think we all hope.
[QUOTE=Thyroxin;32875890]I think we all hope.[/QUOTE] ObamaHOPE.jpg
Shit, does this mean I need to turn cannibal again to eat?
[QUOTE=Jcorp;32875917]Shit, does this mean I need to turn cannibal again to eat?[/QUOTE] Nah, it just means the global production of goods will grind to a halt and things will get more expensive. It will bounce back though over time. It always does.
[QUOTE=Jcorp;32875917]Shit, does this mean I need to turn cannibal again to eat?[/QUOTE] Again?
[QUOTE=Tommyx50;32875940]Again?[/QUOTE] What, you don't remember the last time? [editline]20th October 2011[/editline] That barbeque sauce was awesome
Well thanks a fucking lot you fucking politicians, time to fucking run them out of town. If this is what we get for putting them there then we need too get them the fuck out. That and people need to learn to vote for responsible candidates rather then voting along party lines. I wanted something for myself as I get started on life, but I think that is over with this bullshit going on.
makes me wonder how the next 10-20 years will play out
Tire shoulder armor, anyone?
[QUOTE=furious_d;32876214]makes me wonder how the next 10-20 years will play out[/QUOTE] Best case of scenario: we get our shit together and start playing fair. Worst case of scenario: ...Much like England about a few months back.
-facepalm- Fuck the democrats, fuck the republicans. We need to ship BOTH to the arctic circle and start the fuck over.
Did you see the date on that article OP? I think someone played with the timer of this bomb, because it's been almost two years since that article was posted
The most recent comment is 291 days ago..
[QUOTE=GlebGuy;32876237]Best case of scenario: we get our shit together and start playing fair. Worst case of scenario: ...Much like England about a few months back.[/QUOTE] Uh the riots had absolutely nothing to do with austerity or recession
[QUOTE=Atlascore;32876327]Economies don't just implode over night. Stuff is worse then it was when the article was posted.[/QUOTE] We will see. well, I will anyway. I guess if I'm wrong you yanks will be looting and heading to the mountains.
[QUOTE=smurfy;32876355]Uh the riots had absolutely nothing to do with austerity or recession[/QUOTE] Yeah, some idiot drug-dealer got himself shot (and given how rarely the police trade bullets, I'm surprised nobody pulled it from his corpse and sold it) and loads of chavs freaked the fuck out and stole things. And that, kids, is a history lesson that'll probably never be in the books despite everyone freaking out over it.
[QUOTE=smurfy;32876355]Uh the riots had absolutely nothing to do with austerity or recession[/QUOTE] I mean that as an example. Riots but with different reasons.
Hope you got your guns and canned food with a long shelf life
that's a lot of bombs, must be the terrorists
[QUOTE=Thyroxin;32875844]Source: [URL="http://www.marketwatch.com/story/our-debt-time-bomb-is-ready-to-go-ka-boom-2010-02-02?pagenumber=2"]http://www.marketwatch.com/story/our-debt-time-bomb-is-ready-to-go-ka-boom-2010-02-02?pagenumber=2 I[/URL] saw this coming a mile away. I agree with most of it.[/QUOTE] Why are people that are posting news always have either the first letter attached to a url? /offtopic
[QUOTE=Stick it in her pooper;32877115]that's a lot of bombs, must be the terrorists[/QUOTE] [IMG]http://www.operatorchan.org/n/arch/src/n128135_JC%20Denton.jpg[/IMG] [editline]20th October 2011[/editline] [I]a bomb![/I]
so guys how's capitalism working for you
yay for fractional reserve banking and our really "free" market I don't think capitalism is the problem, the monetary and economic systems are just basically retarded. If we had a commodity based monetary system and the economy was kept separate from government, I think that things would be better
I keep hearing some people I know cry that we need a revolution. It's a shame a revolution or some shit wouldn't work, considering you can't even begin to touch the people who are the root cause of this, and even if we did they could snake their way back into it all eventually. Silly world.
The end of the world is always next week
[QUOTE=Jcorp;32875917]Shit, does this mean I need to turn cannibal again to eat?[/QUOTE] Dibs on the arms!
it is as Marx predicted, raise the red flag! [video=youtube;U06jlgpMtQs]http://www.youtube.com/watch?v=U06jlgpMtQs[/video]
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