International experts foresee collapse of U.S. economy

"…Now the bad news pops up everywhere.

Hummm…to point that out to its readers does not indicate to me that the article is aiming at the financial savvy!

Well you can’t fault them for not being precise. They are calling a collapse in the US economy for Q3. Of course if the US economy turns as bad as they say then our own is going to go right down the tubes.

that guy, Heilema, is a religious loon. Please nuke this thread :frowning:

his “global europe anticipation” stuff is this pack of nutjobs who want €200 off you up front ( hard currency of course) … _a233.html

For a balanced perspective on the American economy have a listen to Jim Puplava and John Loeffler on Financial Sense Newshour.

If you are stuck for time the 3rd hour is usually worth listening to:

A popped housing bubble on it’s own should not really hit the American economy for six, what’s different this time is a combination of factors all coming together at once.

Here are the main issues:

The en-masse post WWII baby boomer retirement: There is no provision to support a large number of them since the pension schemes are funded from current spending and there is no reserve. This will also strain the health system programs.

The Military, worldwide presence and middle east wars: Their military is stretched and they have to borrow to prosecute the war. They can’t afford it economically and diplomatically.

Government deficit spending: Pork barrel projects in the US, make Fianna Fail look like rank amateurs, prison is a huge industry (highest incarceration rate in the world), The subsidised ethanol program is creating distortions in the market by creating food shortages and higher prices.

Uncontrolled monetary inflation: This is not a unique problem to the United States, and the dollar hegemony does give them an advantage, however, not only do they rob their own people of savings they are exporting that inflation to the world. More and more countries are breaking their ties with the dollar and even refusing to trade in that currency (Iran so far, others reducing their exposure)

Peak oil: America is the world’s largest consumer of energy by a long way, the concept of peak oil means the cheap easy to produce light sweet crude is declining meaning a huge problem (or opportunity) for their transport systems and quality of life. (Ireland faces the same challenge)

The Hillbilly report

Well we are not nearly in as bad position as the UK, which has around 50% of it’s trade with eurozone countries. Given the scale of this collapse, we aren’t in a bad position. And an collpase here is not unique - it’s going to effect everything and everywhere.

Phew. For a moment there I thought our leaders were going to be lambasted by the angry mob – but no, all’s ok because we’re not the only ones.