Interesting times ahead

[uvjunkie]

I wonder when the bubble will burst.

The US national debt clock at the time of writing this post stands at $7,794,437,799,275.46

The estimated population of the US at the time of this post is 295,834,736

This means that each citizen's share of the US debt is $26,347.27

Since posting this the debt is risen to

Comments

[crypticel]

I really support the idea of England moving towards Europe, anyway, for many reasons. I'm hoping that the idea of a financial crisis like this might be enough to convince some people who'd never think that way otherwise that it's a good idea. While they won't do it for any other reason, they might if their money is threatened.

[uvjunkie]

Unfortunately money is the driving force behind almost every decision made. I hope our government take notice soon before it is too late.

[ultrareality]

And on the day that happens, Satan will ski into work and replace his imps with penguins.

[wolfiegoth]

I like the europe idea in principle.
However both France and Germany are disobeying the european deficit rules and borrowing more money than they should. I dont trust the Americans but I also have no faith in a Europe where the rules are so easily broken and the consequence avoided.

[pleb]

Blimey, having a bit of a gloomy week, aren't we? Personally, as I've no doubt said before, I'll be preparing for the impending collapse of social order by building a large bunker complex equipped with squadron of attack buggies fuelled by methane - hence I'll be able to both defend my homestead and contribute to the new Chicken-shit economy. :)

[uvjunkie]

Sorry to be a bit gloomy this week it just happened that way.

I have always been interested in environmental issues so I try to keep an eye on what is happening across the globe. there have been various reports this last week or so which have been interesting if not particularly cheery. I guess where the environment is concerned there is very little to smile about.

I am also looking into possibly buy a house in the coming months, so thought I should check out what the future might hold before plunging myself into that much debt. Stumbling accross many hundreds of articles forcasting world economic collapse has not filled me with much cheer at the prospect of buying just now. I still need to talk to my financial chap who might have a rosier picture.

[pleb]

Don't get me wrong mate - I fully understand and feel very much the same about the state of the world. Guess the sunshine outside just kinda made me take my eye off the ball for a second there. ;)

[uvjunkie]

It is a beautiful day for sure. Nice to see the birds in the trees outside my window. :)

[psyf]

Interesting!

I'm no expert on international financial and economic matters but am reluctant to accept these analyses uncritically.

The first article says the US $ has fallen 40% against the Euro in 2 years and that the USA's deficit is rising.

Based on those facts it asserts that the US $ and the US' economy will soon collapse causing World depression. This will cause:

• abject poverty
  
• breakdown of law and order
  
• crime
  
• disease
  
• starvation
  
• World dominance by Europe
  

The article says nothing about why these things are inevitable so it's hard to assess how likely they are. The overall style is exaggerated and the writing is careless. It was alarming enough to make me think about the situation, though. The prediction is too reminiscent of the 1930s for comfort.

The second article is more restrained and considered. It mentions the $7 Trillion US National Debt and questions the US' ability to repay it. If I owed $7 Trillion, had a stack of £ or Euros and the $ to £ exchange rate dropped by 40% in 2 years I'd be happier than a pig

[uvjunkie]

Thank you Charles for yet another one of your fantastic different spins on things. As I look it appears that the debt clock seems to have reversed its direction and dropped back below the figure from the other day. Interesting to watch though I still find it slightly worrying given that I plan to buy a house this year, that these power players possibly have the power to change the value of money so easily.