Comments on: 79 Percent Of American Voters Say They Think The U.S. Economy Could Collapse – And They Are Absolutely Right

By: BILL

BILL — Fri, 09 Apr 2010 19:51:35 +0000

There are laws for everything. And it doesn’t surprise me that when we make our “belly” our god, “the self gratification of our wants and desires regardless of the cost” we suffer the consequences. We have tried to replace the one true God of the universe with the god of self. What I want, when I want it, regardless of the cost, or who it hurts. We can only reap what we have sown. Now! we will reap the whirlwind. Economic collapse.
All of us will suffer even if this is not true of us. Let’s repent ask forgiveness from God and start doing what He tells us to do.

By: MattK

MattK — Tue, 06 Apr 2010 18:59:12 +0000

SharonsJ needs to wake up.

It is not the military causing these problems, but the entitlements that are going to gobble up each and every penny that we have. It is already at 60 cents on the dollar and will take up every penny of revenue in 10 years. You need to look at the actaual governments budget instead of reading a Michael Moore book to get the real facts about government spending. Forget about the military. We won’t have one penny to spend on it in 10 years. At least then, liberals might finally understand where all of the money goes.

By: KZFISCH

KZFISCH — Sun, 04 Apr 2010 23:20:51 +0000

A reply to Mr. Tylor,
I know that today it is convenient to blame the Democrat party and President Obama for the debt crisis. However, this “neo-con” fabricated, “Fox and friends” promoted propganda is as untrue as the ‘flat-world’ paradigm of the days of old.

The FACTS…..thats right….FACTS are that the Republican GW Bush Administration was, according to the Peter G. Peterson Foundation in Manhattan, “the Least Fiscally Responsible in History.”

So please if you have nothing to contribute but Neo-con controlled, Glenn Beck propaganda keep it to yourself. Thanks

By: Kathy

Kathy — Wed, 31 Mar 2010 00:52:32 +0000

But you voted for the people who gave money to the corporations, got us involved in these 2 wars, and are wasting billions at the Pentagon. You voted for them on November 4, 2008. You know, the change you could believe in. In fact, we just committed more troops and billions to Afghanistan. And you know what? Come next presidential election, you’ll vote for them again.

By: Apio Ludd

Apio Ludd — Tue, 30 Mar 2010 16:36:41 +0000

@tyler–Tyler, the Obama administration are not at all marxists. By global political standards, they are slightly right of center. By US standards they are more right than the Nixon adminstration (which instituted price and wage freezes–there’s socialism for you). The Obama administration’s economic policies are so ridiculous because they are trying to combine a form of populism with a continuing government support for the biggest corporations. Thus, the “healthcare reform” is a barely concealed subsidy for the pharmaceutical companies, and to a lesser extent to insurance companies. The requirements the insurance companies are expected to follow are to guarantee the profits of the pharmaceuticals. Thus, the Obama administration is operating under the principal capitalism has operated under from the start (when the British crown subsidized companies like the East India Company, insuring profits for the latter, and colonies for the British crown), the state subsidizes the rich so that they can get richer.

By: Freth

Freth — Tue, 30 Mar 2010 13:29:25 +0000

Silver may be nice to have … but I would suggest buying extra food … you can’t eat silver.

By: uZiSuZi

uZiSuZi — Tue, 30 Mar 2010 03:31:02 +0000

Google ‘Iron Mountain’ & watch the movie online, for starters. Also, did you know there is an OWL on our $1 bill? It’s true, just to the left of the ’1′ on the right front side of the bill. The OWL has been laughing at us for a Long time. This whole ‘plan’ has been in place for a long time. That’s all I can say here. Because of the internet we are no longer stupid.

By: cara

cara — Tue, 30 Mar 2010 01:40:05 +0000

It is all about DEBT per’se. Its all about everyone single one of us being pigs and greedy little brats. Everyone of us. We are the ones who did this. We are the ones who have to change.
And until we do, this country is DOOMED. PHOOEH on fox news, cnn, abc, etc. Its about each one of us doing the right thing. And if you don’t know what that “right thing” is, ASK SOMEONE !!

THAT is the only way this country will survive, and fush the rest.

By: Cat Callahan

Cat Callahan — Mon, 29 Mar 2010 18:38:33 +0000

One thing that is not allowed is for people to wipe the slate clean and begin again. The republican congress enacted DRACONIAN bankruptcy legislation so that if you declare bankruptcy, your creditors can still come after you indefinitely for collect! Check it out! My husband and I are physically disabled and my husband has a fatal illness. My parents had left a small inheritance for our medical expenses. It is now confiscated before I have even ‘inherited’ it! They want us to have a good life? Bolderdash! Or they wouldn’t allow medical bills that bankrupt the average working person./ Try finding a could where the husband works 2 jobs and the wife three, who live frugally, and still can not pay off medical bills. If I get sick again, I think I will just welcome death.

By: dj

dj — Mon, 29 Mar 2010 16:51:59 +0000

INFLATION IS A RESULT OF TOO MUCH DEMAND AND NOT ENOUGH SUPPLY. MILITARY ADVENTURE REDUCES SUPPLY BY DESTROYING THE MEANS TO SUPPLY. PRICES RISE (DEMAND EITHER CONSTANT OR INCREASING).

By: Dude

Dude — Mon, 29 Mar 2010 16:46:58 +0000

Keep in mind the Military is one of the few things the Federal government can legally spend money on under the U.S. Constitution (if that means anything anymore). I don’t think it would be such a great idea to suddenly un-employ 1,400,000 service members not to mention closing down all ship yards, aerospace manufactures (helicopters to satellites), light to heavy vehicle manufactures and the list goes on.
Yes there is a lot of fraud and waste but I think we should look at all the illegal spending first before attacking one of the few places the federal Government can Constitutionally spend money.

By: Howard Theoald

Howard Theoald — Sun, 28 Mar 2010 22:13:31 +0000

The problem is that we Americans who were and are conservative with no debt will suffer along with these idiots

By: DavidB

DavidB — Sun, 28 Mar 2010 12:35:55 +0000

Wake up – it’s not bloody marxists – it’s your own financial, industrial and political leaders that have caused this mess and you all sat back and revelled in it. For years, America has lived high on the benefits of globalisation (heaps of cheap imports) while not realising that there is a price to pay. That price is the wholesale export of your manufacturing to Asia and Mexico – along with the jobs. These have largely been replaced by low wage service jobs. The only alternative in order to maintain your standard of living has been to resort to debt – hence the credit crunch. The credit crunch is only a symptom.
As a non American – I can only wonder at how you spend more than the rest of the world combined on defence while your economy and financial stability collapses around you.

By: Anthony

Anthony — Sat, 27 Mar 2010 15:36:48 +0000

This is accoding to a FOX NEWS POLL!!! It has zero credit

By: Tony W.

Tony W. — Sat, 27 Mar 2010 04:58:57 +0000

Rick – When the military budget is submitted, the ‘costs’ of operations in Iraq and Afghanistan are essentially open-ended. No one knows exactly what will be spent ahead of the fiscal year on these two conflicts. No hard figure is tabulated into the defense outlays for these. So, I’m right. As for inflationary pressure from miliary spending, let me explain. Military spending leads to the creation of ‘goods,’ but these goods do not enter the consumer market. Therefore, the workers making these goods are paid for goods that no one can purchase. It’s essentially a make-no program, that is easy to sell in the US where folks are afraid of their own shadow, so peddling fear, and funding the military to protect the poor American masses faces little if any opposition. This despite the fact, it is buffered by two oceans, one impoverished state and one loyal ally. Anyway, this leads to inflationary pressure, since the defense workers are essentially paid to produce nothing for the market. The US does of course dominate the peddling of weapons round the globe, with 41 percent of all sales. Russia is a distant second at 17 percent

By: sharonsj

sharonsj — Thu, 25 Mar 2010 22:01:28 +0000

It’s not debt per se, it’s the collapse of revenue triggered by the housing bubble. Trillions of dollars vanished when all those toxic financial instruments–based on real estate–collapsed. It didn’t matter if the average person didn’t have stocks–their retirement accounts were invested in stocks.

So now we have millions of people losing their homes and their jobs. Property and payroll taxes are way down. At the same time the rest of us have had stagnant wages while all other expenses have soared. Why else do you need both parents to work in order to live? So nobody has any extra money to spend (and we’re trying to save), so more and more stores go out of business and lay off workers, who can’t spend any money, so revenues keep going down.

We are in a downward spiral and the government stimulus wasn’t enough to help us; that’s why so many think doom is around the corner. If we would stop giving money to corporations, stop these two wars, and stop wasting billions at the Pentagon, we would have money to fix our crumbling infrastructure and provide health care for everyone.

Instead of believing crap about death panels and a government-takeover of health care, it would help if you would fact-check the next time Fox News tells you lies. You need to go after Congress for what they actually did and not for what you think they did.

By: Matt

Matt — Thu, 25 Mar 2010 19:58:11 +0000

One day you are going to wake-up, turn on HLN or CNN or Fox News as usual, and see that $1 has just been revalued overnight by the Feds to now be only worth 50 cents. Ask the Vietnamese how this works. Ask the N. Koreans how this works.

By: markytom

markytom — Thu, 25 Mar 2010 18:45:14 +0000

It’s not just debt – it’s also the offshoring of manufacturing/services and the willingness of the US population to continue to purchase cheaper products/services from countries like China, India, etc. that pay very low/slave labor rates, provide poor working conditions, don’t care at all about pollution or environment (including poisoning their own people), have terrible corruption and ethics issues (e.g. lead paint in toys, melamine in pet food, stealing of intellectual property, etc.), provide few to no rights to their workforce, etc., etc. How can any US located business facility really compete against that (especially with the continual increase in regulations, lawsuits, taxes, etc.)? Cutting government spending isn’t enough. If a country doesn’t produce anything only cutting spending won’t bring the country back to health. Debt replaced productive capabilities and now that Ponzi scheme is coming to an end quickly with debt saturation, and it is essentially impossible to rebuild the productive capabilities in the US because you are right about the death spiral. The event horizon has been reached and there is only one end result now – one of collapse.

http://economicedge.blogspot.com/2010/03/most-important-chart-of-century.html

@Tony W: When does the US bomb Iran (or some other country)? That’s usually what countries do when they are totally desparate – find an “enemy” to attack in an attempt to distract the population.

By: chris

chris — Thu, 25 Mar 2010 18:14:55 +0000

The household debt chart doesn’t include inflation though.. 1 dollar in 1966 = 6.69 dollars today..

so wouldn’t the 13 trillion today be 1.93 trillion in 1966

so while the household debt has increased dramatically shouldn’t the chart be adjusted for inflation?

.3 trillion (estimating from the graph) to 1.94 trillion looks a lot different then .3 to 13

even at 1.94 its still 6 times the average debt per household.

By: Doug

Doug — Thu, 25 Mar 2010 17:51:25 +0000

The military industrial complex doesn’t pay any more than most private sector technology firms, in fact they usually pay less, have lousy benefits all while reaping huge tax dollar contracts.