[Cincinatus' Wife]

The Hugo Chavez-Barack Obama economic plan to destroy free market capitalism - take over under the guise of helping:

Obama: Let's repeat auto industry success "PUEBLO, Colo. – President Obama, while villifying Mitt Romney for opposing the auto industry bailout, bragged about the success of his decision to provide government assistance and said he now wants to see every manufacturing industry come roaring back.

“I said, I believe in American workers, I believe in this American industry, and now the American auto industry has come roaring back,” he said. “Now I want to do the same thing with manufacturing jobs, not just in the auto industry, but in every industry."...........

[gusopol3]

That’s a tricky link; what does Atlanta Journal Constitution have to do with Morning Money?

[ClearCase_guy]

Many people die, not so much from a disease, but by the over-reaction of their own immune system to the presence of the disease. I think a major financial crisis, by itself, could not kill us. But our political reaction to the crisis would be so mis-guided, so over-the-top, that civilization could possibly come crashing down. I can see a feudal system coming back -- I already feel more like a serf than a free citizen.

With liabilities over $200T, I think the only thing to do is to cancel all debts and focus on domestic food and energy production for a few years. Start over. Avoid famine and energy starvation. The 20th century was basically one big mistake, and we need to wipe the slate clean and rebuild our society with more emphasis on personal responsibility and personal property ownership.

[Recon Dad]

....And it could result in a depression so severe that he doesn’t “think our civilization could survive it.” .... it’s easier in our election in November.......

[OldEarlGray]

 

[momincombatboots]

I bet all 50 CNBC viewers were saddened by the slow death of America. The likelihood that Europe was sacrificed to make us look better than someone else is something to think about too.

[equaviator]

If the threat is real and Obama represents that threat then what are the American people supposed to do about it, wait for the government to save us? You’d think there’d be some kind of ‘breaker switch’ for just such a national emergency.

[pieceofthepuzzle]

At the risk of offending any Freepers who may be economists, I just don't think economics is a ‘science’, and that much of the complex modeling and calculating has little predictive value and obscures the very fundamental issues that matter most.

IMHO, it comes down to:

1) How big is the total pie (e.g. what's the GDP)?

2) Is the pie getting bigger (i.e. economic growth)?

3) If so, is the pie getting bigger fast enough to provide a slice to the additional people who want a piece of the pie (i.e. is growth keeping up with population growth and immigration)?

4) Do you have to contribute to making the pie in order to qualify for having a slice (e.g. do you get money from the government even if you don't contribute to increasing the GDP)?

5) If the total pie isn't getting bigger, and you are committed to providing a piece to everyone - irrespective of if they help make the pie bigger or not - someone’s slice has to get smaller in order to make available pie for the additional pie eaters who want a slice (i.e. you can't spend the money that liberals spend on government programs without redistributing earnings - unless the GDP grows at a fast enough rate to fund all the spending. If you give more you either have to make more, or take more).

6) If you take from those who make the pie, and give to those who don't, how much can you take, and for how long, until those who make the pie quit making it?

7) How do you incentivize people to make more pie?

[LibLieSlayer]

Once upon a time... long long ago... a war for Independence was fought. Those seeking freedom were scorned... had no money or support... an army freezing to death... an army starving and with no food, supplies or equipment... an army demoralized... but General Washington won that war and with it... OUR INDEPENDENCE. Then we were destitute. We could not pay the French who had fought with us and for us. We had no money at all... and the paper that we did have was worthless. Private citizens signed over whatever they had... real statesmen and we paid those debts and we grew and expanded and became the WORLD POWER. Castroti, effeminate girly-men like this author may not survive... in fact those that can do may have to get rid of those that can't... as in those that choose anarchy over work. We will survive and rebuild America... some of us will. You can bank on that mister banker!

LLS

[expat1000]

The site looks like it markets investments and/or investment advice to people concerned about exactly this kind of collapse. That makes me fairly skeptical of the ‘reporting’ aspect of the site.

[Travis McGee]

Folks better be prepared to survive a major supply disruption, at the very least. The very least.

[preacher]

All you need to know, Hyperinflation here we come.

See chart from: http://decourcy.wordpress.com/2009/06/18/what-is-money-a-look-at-the-us-dollar/

[GOPJ]

Ummm, the auto industry's NOT doing great. Most large corporations are turning AGAINST Obama... Obama’s big solution is to borrow more... like a family hooked on credit cards. It won't work in the long run... it's starting NOT to work in the short run.

[uncbob]

I didn't need these economists to tell me this

Anybody with foresight can see it coming

[albionin]

I think any thinking person who looks at what is going on all over the world with governments becoming more and more centralized and societies becoming more and more immoral, spending beyond their ability to ever repay, realizes that a collapse is coming and there is nothing that can stop it. You can only fake reality for so long. I don’t know how much longer this country can go on with a government and a system so corrupt but I don’t think it will be much longer.

[ichabod1]

They asked a man who had lost everything how it happened. Two ways, he said. Gradually, and then suddenly.

[bbernard]

Then we have this in the headlines today:

U.S. banks told to make plans for preventing collapse

http://www.reuters.com/article/2012/08/10/us-banks-recoveryplans-idUSBRE87905N20120810

Coincidence? I think not.

[Road Glide]

“Economist Richard Duncan: Civilization May Not Survive ‘Death Spiral’”

“And what’s really disturbing about these findings is that the pattern isn’t limited to our economy. We found the same catastrophic pattern in our energy, food, and water systems as well.”
According to Martenson: “These systems could all implode at the same time. Food, water, energy, money. Everything.”

Well...
If that’s all there is,
If that’s all there is
If that’s all there is, my friend,
Then let’s keep dancing
Let’s break out the booze and have a ball...
If that’s all.... there is.

http://www.youtube.com/watch?v=3VscVP_Gt_s
(apologies to Peggy Lee)

[blam]

We Are Doomed. (WAD)
(Bump)

[blam]

We Are Doomed. (WAD)
(Bump)