On Oct 15, 3:51*am, Elmo wrote:
On 15/10/2011 1:30 PM, Dogman wrote:





On Sat, 15 Oct 2011 12:17:36 +1000,
wrote:

On 15/10/2011 7:14 AM, Patricia Martin Steward wrote:

Drudge is a poseur.

Drudge has nothing to do with it, he didn't write the book, he just
commented on it. It is only one of thousands of books and articles that
are central to the decline of the US. You can stick your head in the
sand and pretend it isn't happening but it won't change the inevitable..
The USA is kaput! Its death throes might last for a year or two, but is
is already beyond resuscitation. The most it can hope for is to recover
to a third world status, and that is a very slim chance. It will never
be a superpower again. It is bankrupt, fiscally and morally, and there
is no chapter eleven for countries.

We are already getting an influx of Americans arriving here, they have
seen the inevitable and are jumping ship while what dollars they have
still retain some value.

Since your economy is so closely linked to ours, what do you think
will happen to Canada should we actually become "kaput"?

Hmmmmm?

--
Dogman

Unfortunately we will get dragged down with you, as will much of the
western world. Thankfully as result of the first US caused GFC, most of
the western world is prepared and will not be dragged as irrevocably low
as the US.

Instead of the usual liberal emotion, let's look at the actual facts
about govt debt levels in countries around the world. Here's the
list of countries with their
debt to GDP ratios:

http://en.wikipedia.org/wiki/List_of...by_public_debt

Number one is Japan, with debt at 200% of GDP. Then we have Greece
at 142%, Iceland at 126%, Italy at 120%, Belgium at 100%,
Ireland at 97%, Portugal at 93%, and CANADA at 84%,
France at 82%.......

The USA is at 62%. So, if we are on the road to financial
ruin, Canada and a whole lot of other countries are already
well ahead of us. Yes, if we continue to spend like
those other irresponsible countries, we could be there
too someday. But there are strong signs that the
spending will get under control. The election a year
from now could make a huge difference.

I'd also like to hear how the USA
is responsible for Ireland, Greece, etc being on the
verge of default. We never told them to give away all
that money in entitlements to a bunch of lazy asses
that won't work.....



We will recover, the US won't. It has been living on borrowed
time and funds for decades, it is time to pay up and it has no way of
paying. The US economy is cannibalistic, it has devoured itself, it is a
giant Ponzi scheme that has reached the end and imploded. It has no way
of earning the money it owes in order to pay its debts, so it will have
to try to survive without further borrowing. That survival will be hand
to mouth. Get ready, you have maybe four of five years before you will
be unable to feed yourself. You are about to experience life as a third
world citizen. No effective social services, no effective medical care,
no strong military, Police and court corruption, a failing education
system, rapidly escalating street crime, massive unemployment. It will
be worse than the Soviet Union not so long ago.
If you want to disagree, explain where the next few trillion dollars
needed simply to maintain the status quo will come from?

The answer is simple. First, we need a president that
sets a positive message and climate for business. Get
rid of all the uncertainty. End Obamacare. Pick up
the phone and fire the NLRB that is preventing Boeing
from opening a plant in South Carolina that would
employe thousands because a union claims the plant
was built in retaliation for a strike years ago. Hold a press
conference and
announce that the president will not allow bureaucrats
like these morons
to stand in the way of the American economy. Have
a tax holiday with sharply reduced coroprate tax rates
for corps that bring money sitting overseas home and
invest it here. Have
a one year write off of any new capital investments.

Then get spending under control. The budget has
grown by 40% from 2007 to 2011. If your family
budget had gone up like that, what would you do?
The combination of spending cuts and a reinvigorated
economy will close the deficit. Getting the economy
moving won't happen until you get a president who
understands business and wants to work with them,
not against them.





It won't be
China, the country that currently holds all of the US pawn tickets.

More emotion and ignorance. Time for a fact check.
All foreigners together own 46% of US debt. Of that
China owns 8% of the US debt. That's a long way
from 100%. Gee, wonder how much of Canada's
debt they own? And if the US is in such dire straits,
it's rather odd that all these foreigners are lining up
to buy our debt while at the same time, interest rates
on that debt are at the lowest point in history.





You
can't pay the interest on what you owe, let alone the capital. They
won't advance you any more. Much of Europe is already in trouble thanks
to the US

Sure it is. Why every time anything happens anywhere in
the world, it's always the US's fault according to the clueless
America haters. You sound like you should be sleeping in
the rainy park with the rest of those pig ignorant America
bashers that are protesting abouth things they don't
understand.





and they can't and very probably wouldn't help. The UK isn't
much better, Australia, as it did last time will probably fare well, but
only because they have such huge export resources, mostly going to
China, they will have enough to look after themselves, not enough to aid
the US. What's left? South America? Africa? Not much chance of aid there.

The US is like an irresponsible family who has survived by getting more
and more credit cards whenever it needed money, and it has now reached
the point where it can't both survive and keep up the interest payments
on those cards. Its credit rating is too low to allow issue of more
cards, and the debt collectors are banging on the door.

Another total lie. Actually, bond BUYERS are what
are waiting at the door because they know the USA
is still the safest, most secure place for their money.
Gee, I wonder who knows more. The folks actually
buying those bonds at the lowest interest rates in
history, or you who I'll bet doesn't have a pot to pee
in.