The Economic Collapse of America : The New Normal

[Dokkie]

Run time: 04:15 https://www.youtube.com/watch?v=hS0lYtWsQ2Q   Posted on YouTube: January 11, 2011 By YouTube Member: StormCloudsGathering Views on YouTube: 3120   Posted on DU: January 15, 2011 By DU Member: Dokkie Views on DU: 1051

 
I have been worried for a while about the structural integrity of the US economy. We seem to be making less and importing more. I by no means believe everything said in this video especially the part about what happens in a collapse, but I think after so many years of reckless spending and economic collapse, the big dollar collapse is imminent. These crazy types called the housing mortgage collapse before anyone else did and have also for-casted the commercial mortgage collapse

The failing sales man doesn't go to work with a beat up ford and tattered coat, he spend his last penny on a $1000 suit while continuing the lease on his lexus just to keep up the charade that everything is fine. This is the behavior I see with the US, the expensive wars and occupations continue, no slow down with the new weapon development, foreign aid (even though it is a small part of the debt) still at prosperity time levels and oh the f***ing tax cuts which are paid for by more borrowing.

Anyway, here it is. Watch rate and comment, i would love to see what others think about it

[Skink]

1. Saddam was going to start trading in euros.

so what do we do we spend a trillion laying waste to Iraq and enriching all the defense contractors we can,

[Marblehead]

2. enjoy

enjoy what?

[Dokkie]

3. I didnt mean to enjoy

the collapse, just something I say. I should have said "just watch" or just have left it blank.

[jotsy]

4. Not much there to enjoy.

I'd rec'd it before taking in the video, your copy earned that on its own accord. I was dismayed to see the goose egg remain, until after I watched.

I find some difficulty in accepting this as a long term outcome. The cause of this economic collapse lies more in its false front nature and bloated expression. I see it will be different but am compelled to look for the light at the end of the proverbial tunnel. This country didn't have electricity when it was built or laptops. Perhaps being forced to abandon the trite existence we've come to know is required to see us move forward. It can be rebuilt.

[melody]

5. Shades of 1978

My father sang that same song for thirty years. He so terrified me with his gloomy forecast that I started studying the matter. A weaker dollar simply means more manufacturing here, which means more jobs. Wages will go down for a time but as demand for workers increase, wages will go up again. The king capitalists play this same doom song because they're worried about their stock portfolios and shares of gold. For the average person, it will make little difference.

[Dokkie]

6. in 1978

we were still under the some form of gold standard, we weren't 14 trillion dollar in the red, we had a manufacturing sector, we didnt have NAFTA, we had Glass Steagall and also we weren't involved in 3+ wars. You take so many hits and after a while, the recoveries take longer and the chance of permanent damage increases. We were a lot better positioned to absorb a downturn than we r today

[melody]

7. in 1978

We didn't have half the technology, we didn't have the internet, we did NOT have a manufacturing sector, and, comparatively, we were in as tight an economic situation as we were then. Back in 1978, everyone was saying "it's worse than the Great Depression!" and "we're all going to be living in shacks"!

We'll be fine ... I know that's bad news for the people who love to envision a glum future but my money, as ever, is on the ability for people to adapt. My grandparents made it through the last Great Depression. We'll make it through this one.

[AnneD]

8. Hope for the best....

prepare for the worst.

I am an optimistic person by nature but from what I know of economics and history, I am most distressed by what is going on in the economy. Just because it has never happened here, doesn't mean it won't. We are not all that special. Losing our reserve currency status would be disastrous in ways we can't even imaging yet.

[melody]

9. Yes, we're all going to die lol

May as well jump off a cliff. (this is a joke)

Whatever happened will be survived. Losing our reserve currency status would also be advantageous in ways we can't even imagine yet.

[melody]

10. About our currency status

I think liberal economist Paul Krugman puts it best ...

http://krugman.blogs.nytimes.com/2011/01/17/the-role-of-the-dollar-who-cares/

[WhoIsNumberNone]

11. This is why I want to move to Canada

Not that things are likely to be too much better up there...

I also find it very difficult to believe that economists and regular folks see this coming while the zillionaires who are calling all the shots don't. I have to wonder if it isn't their plan to collapse the world's economy and benefit by it. Rest assured if what this video predicts does come to pass, the Tom Donahues and Koch brothers of the world will ride it out just fine.

Nice choice of music by the way. Very appropriate for those of us who may recognize it.