Actually, I hope you are right and I am wrong. Because the sooner this happens, the better off we will be to re-build. The Soviets faked their economy by monetary manipulation, fuzzy math and cooked books. It took 50 years before they actually couldn't write a check to somebody.
Right now we are printing money like mad and manipulating currency through interest rates and such. We are cooking the books on everything from unemployment to GDP. We're only just getting started in this next phase of America. Our government can hide lots of stuff from us now. They control us. They can play these games and milk our economy to stay in power right up until a social security check is NO GOOD! If it takes 50 years, like the soviet union, we won't have a strong base of capitalists to jump in and re-invigorate an economy. They'll all be long dead by a generation and we'll have a nation of dead-beat entitlement enablers. America will have squandered our legacy by then and we'll never have any hope of regaining the pride and vigor that built this nation. By then, there will be nothing to fight for. The very definition of Freedom is changing by the day now. In 50 years we won't even remember what freedom once was and our nations history will be outlawed as contraband propaganda. AND WE'LL VOTE FOR IT ALL IN THE NAME OF SECURITY.
So yea! I hope for a collapse soon while those American innovators and patriots are still alive with energy and vigor. We have to hope it happens while John Gault(s) are still among us.
Economist John Williams says the U.S. budget and debt ceiling circus is not the real problem. Williams contends, “The issue here, very simply, is the long term solvency of the United States of America. . . This gap based deficit is going to kill us . . . We are going to be in very serious trouble in this next year, and the global markets know this is happening.” Williams goes on to explain, “They are not going to address the long term solvency problems of the United States. That’s going to trigger a massive decline in the dollar in the not-too-distant future, and that, in turn, will give us the early stages of hyperinflation in this next year.” Williams says, “We’re basically at a point where we can’t kick the can down the road. This is it. . . . Going forward from here, you’re going to generally see a weaker dollar, and it will get much weaker. You’re going to have a dollar panic, but I can’t give you the exact timing on that.” Another potential problem is a credit downgrade of U.S. debt. Williams says, “If we get a downgrade here, that would accelerate the process of the dollar selling and moving us again into the early stages of hyperinflation.” Williams says you can protect your wealth by holding hard assets. Williams goes on to say, “If your assets are denominated in dollars and Treasury bonds, those will become worthless in hyperinflation.”
http://www.youtube.com/watch?v=wF3kS0yx-dI&feature=player_detailpage
This is why I hope you are right! :-)