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RiverLover

(7,830 posts)

2. Very interesting read, the author believes another crash is coming...& the reason

Reply to marmar (Original post)

Tue Jul 21, 2015, 10:35 PM

Jul 2015

What does an economy do when it no longer produces enough goods to pay its own bills? It “consumes”, meaning it cannibalizes (i.e. consumes) all of the accumulated wealth of that society. And when the “consumer economy” has cannibalized all that wealth? It turns to debt .

As a matter of arithmetic, no entity can pile-up more and more debt forever, not even according to the voodoo economics of charlatan economists. What happens when a dying, consumer economy has mooched/borrowed all the debt it is capable of absorbing? We get the U.S. economy .

Thanks for posting.

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"What happens when a dying consumer economy has...borrowed all the debt it's capable of absorbing?" [View all] marmar Jul 2015 OP

The Chinese takeout joint closest to me has gone belly up Warpy Jul 2015 #1

Very interesting read, the author believes another crash is coming...& the reason RiverLover Jul 2015 #2

. haikugal Jul 2015 #3

We are getting close Munificence Jul 2015 #4

My household has been treading water just to keep above the rising prices Hydra Jul 2015 #5

The US inflation rate is currently negative Recursion Jul 2015 #11

Yeah, there's some seriously zerohedge doom and gloom in that article. AtheistCrusader Jul 2015 #13

Housing and food Hydra Jul 2015 #15

That's the downside of only reporting a nationwide inflation rate, I guess Recursion Jul 2015 #16

Eh, part of it is regional, part of it I expected Hydra Jul 2015 #17

You must not do the grocery shopping in your household or pay the utility bills. CrispyQ Jul 2015 #19

Prices keep going up at the grocery store. nt raccoon Jul 2015 #22

Ah and here I thought you were talking about Greece riderinthestorm Jul 2015 #6

Inequality is killing us. lumberjack_jeff Jul 2015 #7

It's hard to get excited about this. It comes from zerohedge. Kevin from WI Jul 2015 #8

It took until post #8 for the sun to shed light on this dismal forecast TexasTowelie Jul 2015 #9

Holy fuck I didn't even look at the source and guessed it was ZH in post 13 AtheistCrusader Jul 2015 #14

Too spammy looking for me. Sorry. nt silvershadow Jul 2015 #10

The current rate of inflation is negative Recursion Jul 2015 #12

For the official "market basket" you are right 1939 Jul 2015 #21

Extreme Heat, and too much rain in places contributed to this JCMach1 Jul 2015 #18

Think of someone asking this question in, roughly, 1927. Got a lot ahead. Then ask as of today. jtuck004 Jul 2015 #20