Wot's in store for U$A?

[Outlaw Yogi]

Is the US destined for less than so called 1st world living conditions to those similar to what some refer to as the developing world?

Almost 15% of US households experienced a food shortage at some point in 2009, a government report has found.
http://www.bbc.co.uk/news/world-us-canada-11761970

[Outlaw Yogi]

Seems I'm da prophet of doom ..

I believe we are about to enter the biggest economic depression in written history. U$A has been living way beyond its means and accruing debt since the 1950s. OZ has been doing the same to a lesser extent since the 1970s. Britain and Japan also have massive debt and will economically collapse as well.
If it wasn't for the Arabs, Chinese and 3rd world nations proping up the American economy, U$A would have collapsed years ago. Apparently U$A owes US$41 trillion, which is 3 times the entire asset worth of U$A.

Personally I like seeing rat race junk culture consumerism take a kick in the guts, but historically large economic depressions tend to preceed big wars.

http://ozpolitic.com/polanimal/posting. ... f=2&p=5470

[TheDoctor]

To: Chairman Ben Bernanke
Federal Reserve
Washington, DC

We believe the Federal Reserve’s large-scale asset purchase plan (so-called “quantitative easing”) should be reconsidered and discontinued. We do not believe such a plan is necessary or advisable under current circumstances. The planned asset purchases risk currency debasement and inflation, and we do not think they will achieve the Fed’s objective of promoting employment.

We subscribe to your statement in the Washington Post on November 4 that “the Federal Reserve cannot solve all the economy’s problems on its own.” In this case, we think improvements in tax, spending and regulatory policies must take precedence in a national growth program, not further monetary stimulus.

We disagree with the view that inflation needs to be pushed higher, and worry that another round of asset purchases, with interest rates still near zero over a year into the recovery, will distort financial markets and greatly complicate future Fed efforts to normalize monetary policy.

The Fed’s purchase program has also met broad opposition from other central banks and we share their concerns that quantitative easing by the Fed is neither warranted nor helpful in addressing either U.S. or global economic problems.

Cliff Asness
AQR Capital

Michael J. Boskin
Stanford University
Former Chairman, President’s Council of Economic Advisors (George H.W. Bush Administration)

Richard X. Bove
Rochdale Securities

Charles W. Calomiris
Columbia University Graduate School of Business

Jim Chanos
Kynikos Associates

John F. Cogan
Stanford University
Former Associate Director, U.S. Office of Management and Budget (Reagan Administration)

Niall Ferguson
Harvard University
Author, The Ascent of Money: A Financial History of the World

Nicole Gelinas
Manhattan Institute & e21
Author, After the Fall: Saving Capitalism from Wall Street—and Washington

James Grant
Grant’s Interest Rate Observer

Kevin A. Hassett
American Enterprise Institute
Former Senior Economist, Board of Governors of the Federal Reserve

Roger Hertog
The Hertog Foundation

Gregory Hess
Claremont McKenna College

Douglas Holtz-Eakin
Former Director, Congressional Budget Office

Seth Klarman
Baupost Group

William Kristol
Editor, The Weekly Standard

David Malpass
GroPac
Former Deputy Assistant Treasury Secretary (Reagan Administration)

Ronald I. McKinnon
Stanford University

Dan Senor
Council on Foreign Relations
Co-Author, Start-Up Nation: The Story of Israel’s Economic Miracle

Amity Shlaes
Council on Foreign Relations
Author, The Forgotten Man: A New History of the Great Depression

Paul E. Singer
Elliott Associates

John B. Taylor
Stanford University
Former Undersecretary of Treasury for International Affairs (George W. Bush Administration)

Peter J. Wallison
American Enterprise Institute
Former Treasury and White House Counsel (Reagan Administration)

Geoffrey Wood
Cass Business School at City University London

http://dailycapitalist.com/

[Outlaw Yogi]

Is the American Dream Over?
http://www.spiegel.de/international/wor ... 47,00.html

Apple Blossom Drive, on the outskirts of Fort Myers, Florida, is a road to nowhere. The retirees, all the dreamers who wanted to claim their slice of the American dream in return for all the years they had worked in a Michigan factory or a New York City office, won't be coming. Not to Apple Blossom Drive and not to any of the other deserted streets which, with their pretty names and neat landscaping, were supposed to herald freedom and prosperity as the ultimate destination of the American journey, and now exude the same feeling of sadness as the industrial ruins of Detroit.

The Desperate States of America are loud and distressed. The country has always been a little paranoid, but now it's also despondent, hopeless and pessimistic. Americans have always believed in the country's capacity for regeneration, that a new awakening is possible at any time. Now, 63 percent of Americans don't believe that they will be able to maintain their current standard of living.

[Leftwinger]

The US is in poor shape, that's for sure. Official unemployment at 9.6%, U6 unemployment (a broader measure including those who have dropped out of the labour force) is running close to 17%. Real recovery is very slow and hesitant thus far.

The US needs much more properly targetted government spending to replace the lost demand in the private sector. Obama never really tried or was stymied by the dysfunctional nature of US politics. Now the repugs will likely make things worse.

[IQSRLOW]

Oh look, it's a Monk sock/meat puppet

[Leftwinger]

Hello NO IQ - I see you're still the same brainless cretin you always were.

[IQSRLOW]

I see you have ventured out of your hideyhole. Did your balls finally drop?

[Jovial Monk]

Hello Lefty, good to see you here, we need more sensible people here.

[Leftwinger]

Hi JM. Forget sockpuppets - a spambot would have contributed more intellect to the debate than IQ does. When his brain finally drops, he might actually respond to the thread topic.