ECONOMIC COLLAPSE IN 2018?

[bostonangler]

 

[Jim1cor13]

Well, it could happen of course, but I have heard these claims for the last 10 years, and some of them have been out there

for at least the last 40 years.

 

No doubt there are some things we are repeating such as housing mortgage problems and over zealous lending habits, but the country is in better shape than

it was under Bush, when he authorized bank bail outs, etc., and that program continued to grow until it hit trillions under Obama, etc., mostly because

the true depth of the crisis at the time was much worse than initially thought.

 

But fact is, bailing out the criminal lenders was a bad idea long term and sent a horrible message that they got away with their crimes...which for the

most part they did. Then to strap we the people with the bill? I never understood how more were not outraged at that move.

 

We are making similar mistakes again that we saw in 2006 - 2008, and that worries me, but at least for now we are in a bit better shape. How long that 

lasts is anyone's guess.

 

I hope the president realizes we cannot go down that road and heat up things too fast, but for now, the financial shape of our country is in a much stronger

condition overall, but there is always more work to do.

 

Thanks B/A

[bostonangler]

12 hours ago, Jim1cor13 said:

Well, it could happen of course, but I have heard these claims for the last 10 years, and some of them have been out there

for at least the last 40 years

 

I too have seen and heard such things for as long as I can remember and there has and will always be "dooms day" for some. I just thought this video had some good points that people need to think about. We are seeing the government and the citizens repeating mistakes. Government and private debt are at all time highs (again). The news on our great economy is seriously misleading. People do not understand basic economics. I've read how this year consumers are spending more. They are spending more. One reason is things cost more. Another is they are living on credit. The average household now holds $10,000 or more in credit card debt. It seems people either forget really fast or never learn from the past.

 

The petro-dollar is something to watch. If countries do indeed move away from the petro-dollar, it will be a game changer for America. The crypto craze is another concept that needs to be watched. If there becomes one world currency everything changes, and with digital currency everything will be monitored. You will not b able to hide your money under the mattress.  Privacy is all but lost as it is, but this would be the end of any concept of privacy.

 

I find it amazing that the current administration and congress are going right back to reduced revenue and increased spending and the public is applauding it...I challenge anyone to decrease their income and increase their spending and then ask people to buy up their debt. That's is what America has been doing for decades and buyers are starting to dry up. People seem to think the current status will never change. They need to remember, the only thing constant in life is change. 

 

B/A

[bostonangler]

 

[bostonangler]

 

[whatsfordinar?]

2014     

2010  

etc., etc......someday SOMEONE will be right....