The economy will it collapse soon?

[nadinbrzezinski]

well the following thread got me thinking

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=364x2932532

Folks we know inflation is well beyond the official rate, same goes for unemployment

So what happens when the US Dollar collapses? Care to worst case it? And who will Joe Six Pack blame? I know who the CNNs of the world will blame, the Democrats, but the end of a stable US Economy is comming

So who will be blamed and what will happen?

Will se finally see social disloation to the point where people will take to the streets? Will we see other nastiness?

This is no game, and it is amazing that very few people are still paying attention to the economy

That is all

[OPERATIONMINDCRIME]

1. No, It Won't. n/t

[otherlander]

2. No because China us they value as buisness deal part of.

Sorry it couldn't help :ofrl:

[nadinbrzezinski]

3. The china talks failed

somethinngs wicked come our way

[Psephos]

4. A weak dollar is good for jobs and not to be feared n/t

[TomInTib]

5. Everything is going to be OK. Or not...

And if It all goes to Hell, look no farther than New Orleans.

Or Iraq.

Or Afghanistan.

It's gonna be OK, alright?

Really.

Really?

[nadinbrzezinski]

6. They've looted the treasury so yes mission accomplised

and they will try to pin it on the dems, mark my words

What i love is people who say it can't happen... well under the propper conditions it can and we are quickly entering those conditions

[MADem]

7. We have a template for this, remember. The Great Depression.

Dust Bowl, fellahs going town to town looking for work. People working for food.

Hey, we have labor laws to stop that kind of stuff. But then, look at how the guys in front of HOME DEPOT are paid, and what benefits they (don't) get. I dunno if those laws will do the trick if enough guys are out of work. They aren't working too well now, are they!

The other worry is, many Americans are lazier than their counterparts during the Great Depression. And, despite their better diet, they are in worse shape than their hardscrabble ancestors. They'll be thwarted by PDs who learn that it pays to have the body examined popularly. take the lazy, fraudulent, ripoff, sneak-steal, inattenttive student, , Crime 101 type scenario.

I'd imagine that, like the last really massive economic crap the country took, we will, in the year or three ahead, see more robberies, home invasions, carjackings and purse snatchings, like we did in the FORD Whip Inflation Now! (WIN) era, and the Carter Put-On-a-Fucking-Sweater/Turn Down the Heat era. Those were UGLY times. Get yourselves some GOOD front locks, folks. And if you are replacing your STORM door, replace it with something that is a bit more sturdy (like an iron grille gate in an iron frame!!!) and LOCKS properly---just to provide one more hassle for a potential home invader.

Just sayin (and thanks to all that chimed in on this tough subect!) ....life doesn't look to great for those living on the edges, I think. And even those of us living in former ordinary little town that was transformed into urban, rich-folk, bedroom community are none too thrilled. The population of "I've got MINE" GOP types is certainly curious and a bit bothersome.

[samplegirl]

8. Soon as there is

a draft!!!

[Selatius]

9. Two big things will happen from the very start

1. Foreign investors will note that since their currencies appreciated relative to the USD, they will be enticed to come into the US and buy up American assets and firms. If they lost money in the crash, there is no guarantee they will not simply dismember US firms and sell off remaining assets to try to soften the losses. Others will try to take over the firm and do with the firm what they wish. If I'm carrying 100 Euros in my pocket, I could buy a whole hell of a lot more than an American with 100 USD in his pocket in the aftermath of a dollar crash.

2. Since the US economy is a net importer of goods, then the posted price of foreign-made goods on American shelves will skyrocket because the cost of foreign labor went up in proportion to how much the USD devaluated. What cost 10 dollars before made in El Salvador could cost 100 dollars now because the dollars in your pocket? They don't mean so much anymore, so you have to pay out more to compensate for the "lost faith." On the other hand, what few American-made goods on the shelf would still be the same price. Good luck finding those goods because hardly any large manufacturing firms operate on US soil anymore.

You think a PS3 made with foreign labor is expensive now? Wait till your dollar tanks. Then talk to me about sticker shock.

[nadinbrzezinski]

10. Somebody who gets it

by the way depending on how bad this goes... how fast this will affect joe six pack

For the record, I lived through a similar set of events in mexico in the 1980s, and it was far from pleasant... and that economy has still to further recover

Of course I could make an argument that NAFTA didn't help.. and a solid argument at that

;-)

[ixion]

11. Krugman and Mogambo have been sounding the alarm about this

for quite some time, and yet the notion has yet to permeate the collective conscience.


The only thing we seem to be manufacturing is this: more dollars.


In fact, we've become so irresponsible printing money that the US gov't has stopped printing the M3, because it would show that we're printing millions of dollars. That, coupled with the fact that we're borrowing 2 billion a day just to cover the overhead, seems to me to point very strongly to the aforementioned scenario.

So, yeah, we're pretty much screwed. Historically speaking, it wouldn't be the first time a large nation became so full of itself that it collapsed under its own weight. The first rule of Empire is that all empires fail at some point. Seems that's a rule that continually gets ignored. ;-)

[FedUpWithIt All]

13. Someone mentioned a Weimar Republic Redux

on another forum i read.

Flood the market with devalued money and hide the documentation. People do not realize what is coming...until it is too late. When a society is vulnerable enough grabbing power is a simple thing.

[nadinbrzezinski]

15. would not surprise me

I am failrly yuong, the ones that worry me are my parents

As to entering the consiciousness, you sait it, it will happen five mninutes after the shit hits the fan

[Possumpoint]

12. Paranoia

If and I do mean if it happens, look to yourself to to be able to survive. When the Great Depression hit, my guess is that there were about 120 million souls in the US. The family farm was the rule with a large manufacturing backbone to the country. Both of those entities have been greatly reduced. Based on the stories told to me by my parents, there was a sense of neighbor helping neighbor. Soup kitchens sprung up and bread lines formed for those who were without. This isn't meant to say that people didn't lose their houses and everything else they owned. Some who weren't in debt did fairly well during this time. My grandparents had enough money saved that they were able to make a pennies on the dollar offer to pay off their mortgage and remove their debt load.

There are officially over 300 million citizens in this country now. There are also, an unknown number of illegals in the country. The public reaction to lose of job and possessions on a much larger scale is also unknown but with our much more crowded conditions, I think it could get nasty. No money and a family to feed, how would you react?

I've read and been told that at any given time there is only two weeks supply of food in the retail pipeline. When the riots in 1968 hit, much of the retail base for the inner cities were looted and destroyed. This put the city populations at a disadvantage for obtaining food. In a massive disruption, if the stores are looted and destroyed, where and how are you going to get food for yourself and family.

You need to have a cache of food and water stored for emergency conditions. You need a means to defend your home. I know how a number of people on this forum feel about guns but my family comes first, thank you. You need to do whatever you can to reduce your debt load.

All too many of us are in debt to our eyeballs. Many require two paychecks to live on a week to week basis. Any burp in the economy will hit them hard. Don't look to the federal government for help. We've all seen how much it and the people in charge care for the working middle class or those without.

Go ahead and accuse me of having a gloom and doom attitude. I'd rather be prepared and not have it happen then have it happen and not be prepared.

[nadinbrzezinski]

14. we do have the store anyway,

but when it happens it will be amazing to most

[InvisibleTouch]

17. Totally agree with you on being prepared.

Having a supply of food, water, and resources that will help you make it through the worst of it, or at least give you some wiggle room while you plan your next step. Being prepared to defend yourself. Having good locks and sturdy doors (as another poster said). Perhaps most of all, being mentally prepared, so you're not incapacitated by the shock. It's not paranoia. And it's not living in fear, either. It's just plain smart.

[PassingFair]

16. I have been crying like Chicken Little since the collapse of

Enron.

I refuse to comment on the condition of the imminent
crash of the sky onto the tarmac any more.

They KEEP propping it up.

People think I'm an alarmist IDIOT.

I have been paying off my cards and my mortgage. It's all I can do.

Of course, when the tsunami hits, ALL the huts go,
whether they're ON stilts OR NOT.

[Larry_the_hiker]

18. It's already collapsed

Unless you're one of the fortunate few. Look at all the people who can't find a job to take care of their families. Look at the homeless. How is the economy working for them?