America's coming collapse

NY Post ^ | January 04, 2011 | Editorial

[Vaduz]

Goolsbee asks the folks in the back of the bus for directions,wonder if they will tell him where to go?.

[SampleMan]

The problem with a default is you’re assuming that the politicians are enough of a bunch of grownups to accept that no more borrowing means they are cut off from funds. It doesn’t always (or even generally) work that way. These are the people who have the ability to print money. They will simply try to inflate their way out of the mess, and the consequences of that are disastrous.

I have concluded that ship has sailed. There is no logical way to prevent the train wreck. Thus, I would rather see it happen now, while people have some collective memory of what it was like before. If we do just enough to postpone the wreck for 20 years, we will have a citizenry mainly ignorant of capitalism. I think that is the socialists plan.

[SeeSac]

I have concluded that ship has sailed train has left the station. There is no logical way to prevent the train wreck.

[drbuzzard]

I suppose that is a fair way of looking at it as long as you assume it to be inevitable.

[prairiebreeze]

ping

[screaminsunshine]

I am amazed people still take Obamabucks. But they do.

[cgbg]

In a strong economy with a gigantic government debt inflation is a possible way to muddle through a debt crisis. (There must be inflation in wages as well as prices—that is not possible with the current unemployment and international wage arbitrage environment.)

That is why it seems unlikely that our economy will recover before the debt crisis explodes—default is the most likely outcome.

[Salvavida]

A good time to bring back independent militia battalions in the states.

This is going to get real ugly.

[wolfcreek]

I heard on the radio about a *new* program to loan small businesses up to $2 million.

IMO, the more people who feed into these programs, the worse off this country (and economy) will become.