Realizing the Full Implications of the Forthcoming Catastrophe

Economic Prism ^ | 26 July 2019 | MN Gordon

[amorphous]

I will say this about the above. Though we've had a recent scare or two, they've kept it going longer than I thought possible. But they now control everything!

[GOP_Party_Animal]

I wish there would be a better description of what this catastrophe will look like. I understand that borrowing money will cost higher and higher rates, so that the share of the federal budget that allows it to function becomes less and less. But what will that look like? No more federal welfare programs? Reduced Social Security payments? Aircraft carriers docked for years? And what will be the response to this contraction?

[Brian Griffin]

Lots of people are going to notice a $25 trillion meltdown, which will happen after the Democrats take total control, which I believe can not be prevented.

The banks can pay low interest rates and I can continue withdrawing money out.

I four years my bank money will mainly be spent and I will wait as long as possible to take Social Security.

[Prince Caspian]

The cited reference to Virgil's Aeneid has always made a deep impression on me.

So easily one slithers down to Hell.

By night or day, no matter. One gets in.

But grappling one's way up again to light,

that is the task, the toil.

A few succeed, by Jove's grace,

or a hero's soaring will.

[Jim Noble]

Economic determinism is Marxist.

In 1945 all the Reichsmarks on Earth were toilet paper. In 1955, Germany was thriving. There are many, many other examples.

If ten-year old trannies are celebrated for dancing in gay strip clubs, does it really matter what happens to the money?

[tet68]

Pursuing delusion, of course, is abundantly easier – for a time.

One can deny reality but there is no denying the results
of denying reality...as the demorats are finding out.

[Jim Noble]

Oh, and I should have added: Anyone who was consumed with saving and investing while his country was turned into a perverted shithole and was overrun with wave after wave of shithole dwellers deserves whatever he gets.

[Brian Griffin]

Anything imported will be terribly expensive.

Trips overseas will be too expensive for most Americans.

Many Mexicans will say adios, cerdos.

Social Security payments will decline about 20% in real value on domestic items.

Federal taxes will go up by about 2/5ths.

[Brian Griffin]

There’s nothing I can do about perversion or Central American invasion.

There was nothing my ancestors could have done about American chattel slavery.

“If voting mattered, it would be illegal.”

George Carlin

[Brian Griffin]

“In 1955, Germany was thriving.”

By 1945, most German cities were mainly rubble.

There was lots of rebuilding work to be done, financed by an expensive tax on the surviving buildings.

[Brian Griffin]

“does it really matter what happens to the money?”

My county insists on collecting property tax.

Government makes sure lots of things matter to me.

[Brian Griffin]

American life will resemble that of 1970’s Britain, but without coal miner strikes.

[econjack]

The allure of offering "free stuff" to stupid people gets them reelected, and that's all they are about. The long run to them is their term of office. Warren Buffet proposed one solution: Any sitting member of Congress who supports a budget that increases the deficit by more than 3% cannot run for reelection. Until there's a punishment for spending too much, there will be no change. To date, they say the cause of the deficit is that taxes are too low. They never even stop to consider that lower spending also provides a means of lowering the deficit. Truthfully, a Constitutional Amendment is probably the only thing that will stop them from more stupid spending. Free cell phones for deadbeats...really?

[amorphous]

I wish there would be a better description of what this catastrophe will look like.

The nearest comparison is probably Venezuela, unless our enemies take advantage of our future weaken state, we being the most powerful nation, and as usually happens in such circumstances - using history as our guide.

Technology and those best able to take advantage of it will be a critical factor. All in all, the entire globe will feel the effects of a declining economy in the US of A, IMO.

[Rurudyne]

Keystone Keynesians

Bad times demand more spending.

Good times are an opportunity to spend more.

Lather, rinse, repeat.

These days they aren’t priming the pump, they’re engaging in economic masturbation to such an extent that that one character from Dr.Sax would be embarrassed.

[amorphous]

Truthfully, a Constitutional Amendment is probably the only thing that will stop them from more stupid spending.

Agree, but that's never going to happen. Barring some unforeseen technological - or spiritual - savior, we're off the cliff and headed for a very hard landing.

[100American]

To me more trying to talk things down by predicting something they intend to make money on

Sounds like Democrats wrote this

[Truthoverpower]

Oh gee. The debt !

Snore

[gundog]

You only pour salt in their wounds by paraphrasing Ayn Rand. :)

[metmom]

Prepper ping.

Pay off all debt and make sure you have everything you need.