Billionaire Tells Americans to Prepare For 'Financial Ruin' (Trump)

Moneynews ^ | June 30, 2014 | Newsmax Wires

[driftdiver]

The United States could soon become a large-scale Spain or Greece, teetering on the edge of financial ruin.

That’s according to Donald Trump, who painted a very ugly picture of where this country is headed. Trump made the comments during a recent appearance on Fox News’ “On the Record with Greta Van Susteren.”

According to Trump, the United States is no longer a rich country. “When you’re not rich, you have to go out and borrow money. We’re borrowing from the Chinese and others. We’re up to $16 trillion in debt.”

He goes on to point out that the downgrade of U.S. debt is inevitable.

“We are going up to $16 trillion [in debt] very soon, and it’s going to be a lot higher than that before he gets finished. When you have [debt] in the $21-$22 trillion, you are talking about a downgrade no matter how you cut it.”

[free from tyranny]

Fear not!
Imagine yourself, maybe an alien visitor from a dark continent or dark star half way across the universe, stumbling across the USA today.
Your perspective would be of amazement and consequently of the potential of development.
Our future can be bright. Maybe it sounds simplistic and naive to see potential when so many others see ruin and hopelessness.
But there will be tomorrow and another tomorrow. And if we only see darkness and terror then that is what tomorrow will bring.
Yes, we are about to go through massive change, but it is never to early to begin thinking about the never ending tomorrows.

[Doomonyou]

Well, look at the bright side. We’ll each have 20 or 30 illegal aliens to mow our lawns.

Great. And Otrama will make you pay them a four hour minimum, plus health care costs.

[freekitty]

Why don’t this titans of fortune offer a solution instead of always doom and gloom?

[Yardstick]

When the reckoning comes, the electorate will be no better informed as a result than they are today. The solution for failed socialism therefore will be more socialism.

Which is part of why those who see "the reckoning" as a means of restoring the Republic, and look forward to it with barely suppressed glee, are full of beans.

[FlingWingFlyer]

They’re all are supposed to get SEIU membership cards as soon as they fill out their DemocRAT “Voter” Registration forms.

[driftdiver]

I’m not a big trump fan but he has many times.

[Blue Highway]

So you just know there will be an economic crash as the DOW climbs to near all time highs of 17000. The bubble is about to burst!

[Shadowstrike]

and that’s why I’m paying off the crdit cards as fast as I can.

[laplata]

Just think, in twenty more years we could be sneaking into Mexico.

---

I don’t think we’ll see much difference between the two.

[nathanbedford]

Never take counsel of your fears.

Thomas Jonathan (Stonewall) Jackson

Good advice when in the field but perhaps not perfect advice in October 1929.

You are perfectly right, there is much to encourage hope and one need merely cast a glance at emerging technologies to know that the world is turning over new opportunities faster than we can comprehend their number or their effect. We are clearly on the cusp of a technological revolution which is breathtaking and which will change everything.

The question is will we maintain a political structure which will permit entrepreneurs to flourish and bring unknown benefits to mankind and at the same time preserve the individual liberty enshrined in our Constitution? My fear is not for the ingenuity of man to invent but for the propensity of man to enslave.

[The Duke]

If America comes to its senses then it will recover. Gas may cost $15/gallon, but our sons and daughters will be commanding correspondingly high incomes. Of course those on fixed incomes will suffer horribly, but they won't be the next generation - it will be the current generation.

Of course with all that devaulation we won't be too popular with the folks sitting on all those dollars. If they can't trade those dollars for something of reasonable value then we'll be looking at World War III.

[Big Horn]

It would take a miracle to avoid it.

[Nowhere Man]

I find myself wondering if my generation (the 1950s) was the last generation of the American dream. My children are not better off. My grandchildren will certainly not be better off. Sometimes I could, and do, cry.

I do share your fear and BTW, I am a member of "Generation Jones," sort of a niche that spans the late Baby Boomers and early Gen X'ers. Basically w were born in the mid 1950's to mid 1960's although your mileage may vary. We are called Generation Jones because we are "jonesin'" for the life the previous generations had plus we are the first to experience a decline in living standards. We saw the loss of our industry in the late 1970's as well as grew up and/or were young adults in the Carter years. We remember the oil shock of the 1970's. A lot of us were "latchkey kids" too when the divorce rate went up and single parents raised us, including me. We Jones'ers are also cynical and distrust government, hence we voted for Reagan and Thatcher. I do fear that the younger kids we are talking about,, their lives will suck so bad that it will look like even us in Generation Jones will look good in comparison. We did recover in the 1980's but as we've seen, it was only a respite on our slide downward.

[Nowhere Man]

Kiddos today are growing up in an entirely different world. On occasion after I have shared a story from my past with him, my teenage grandson responds with “How weird”. We miss what we had. No one but God can undo what has been done.

I know, I get weird looks when I tell them I remember when TV was black and white, I had an 8-Track in my first car and my first computer (TI-99/4A) had 16K of RAM and I loaded programs from cassette. I still watch a 1982 Zenith since I got it new in 1983.

[glock rocks]

In a way I’m glad mom passed before she had to witness this bullshit, but I’ve got four kids.

[ctdonath2]

Protein?

[Nowhere Man]

Of course with all that devaulation we won't be too popular with the folks sitting on all those dollars. If they can't trade those dollars for something of reasonable value then we'll be looking at World War III.

Well, I said a while back where if our international creditors push us into a wall, at some point we might have to act, like an animal who is cornered. Even a kitten or a day old baby chick, when cornered, will fight to the best of there ability. The bad side, if it is us, I can see some future President pushing the button and you see Minuteman III's, B-52's and Tridents take to the skies.

[glock rocks]

Right there with you friend. I just wish I had some sage calming advice. Hell, I wish someone had some for me.

[wonkowasright]

Is he going bankrupt again ?

[RckyRaCoCo]

Those who perpetrated the ponzi scheme(s) will not allow everything to collapse...until they've ticked off all the items on their own personal bucket list(s).

(may they all spend eternity in hell)