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America's broke!

I was thinking. If the average American decided to cut their weekly food bill in half for two weeks and gave the money they saved to the state, would this not solve the problem?
Bit of a bummer if you work for Dunkin' Donuts.....But dem da breaks!

Comments

  • I was thinking. If the average American decided to cut their weekly food bill in half for two weeks and gave the money they saved to the state, would this not solve the problem?
    Bit of a bummer if you work for Dunkin' Donuts.....But dem da breaks!
    Genius.  Have you thought about a career in Economics?
  • I'm not a economic expert but with Greece latest "bailout" and this it's only a matter of time before the money finally runs out and they are just delaying the inevitable?

    Seems to me we are just going round in circles...Obama and co will agree something before next week though, they have to.


  • I work in finance, but actually have very little interest in economics and dont really understand the complexities of it all

    The one thing I dont really understand is, if everyone and every country is borrowing money, surely someone, somewhere is owed an absolute shed load of cash.

     

    If for example this was some rich arab state. Couldnt the world just knock them and start again. No debts and no problem.

     

    Obviously the arab country would be screwed over, but let's call that collateral damage!

  • The problem is that all these bailouts and rescue packages are using money borrowed from banks. They're pretty much just creating more money to save someone each time. It cant work. How do you get out of debts that large by creating more debt? 
  • Love how 'printing money' quietly became 'quantitative easing'.
  • I work in finance, but actually have very little interest in economics and dont really understand the complexities of it all

    The one thing I dont really understand is, if everyone and every country is borrowing money, surely someone, somewhere is owed an absolute shed load of cash.

     

    If for example this was some rich arab state. Couldnt the world just knock them and start again. No debts and no problem.

     

    Obviously the arab country would be screwed over, but let's call that collateral damage!

    The only trouble with your idea is that if we rooked the Arab countries then they would not supply oil or put the price up to offset the loss, we would then have to have a war so we could rob their oil...hold on a minute....!
  • A lot of the borrowed money comes from insurance and pension pots. Hence why your insurance premium's just rocketed and your pension is now worth diddly!
  • Most of the money doesn't actually exist. It's just numbers on a screen. I knew the world economy was truly fucked when the futures market first appeared. It's just starting to enter its death throes now.
  • Hasnt the futures market been around for over 100 years? How old are you Rizzo?
  • On the radio this morning someone said that if you stacked up the USA's debt in one pound coins, it would reach to the moon and back 4 times!!!!

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  • One day isn't this all going to come to a head?

    You can't just keep borrowing on borrowed money surely?
  • On the radio this morning someone said that if you stacked up the USA's debt in one pound coins, it would reach to the moon and back 4 times!!!!

    Maybe thats why there scrapping the space programme , because there going to use Pound coins to get to space now?
  • Probably where all the problem started, America having all those pound coins and banks refusing to accept them unless they're bagged in £20's.
  • Hasnt the futures market been around for over 100 years? How old are you Rizzo?
    Yeah, 'first appeared' is probably an exaggeration. "Grew into a global monster" would probably be more accurate.
  • A lot of the borrowed money comes from insurance and pension pots. Hence why your insurance premium's just rocketed and your pension is now worth diddly!

    Not true. These are a consequence of other factors in the world economy. 
  • It's really quite frightening when you sit down and think about it. The whole of the last forty years of the global economy has been built on lies on a grand scale. Sooner or later, there has to be either a massive redistribution of wealth, total devaluation of all current fiat currencies and a 'do-over' on a grand scale... or a global conflict that eliminates half the world's population.

    The worst thing about it is that there is literally no way out of it. The endgame involves corporations/individuals controlling their own interests, running their own private armies, with the state being completely impotent (it already is financially, as regulation is completely non-existent). Governments had their chance with the banks when Lehmann went. They could have done something about it then - but bailing the rest of them out just made the banks realise that no matter what they do, they'll always be rescued.

    Grim times ahead, just got to hope that the merry-go-round stops after you're dead.
  • I blame Gordon Brown...
  • Think of the USA as a scouser, He's now realised he's skint  so he'll do what he alway's does in time like these................He'll just go and rob one of his neighbours. Simples
  • They will borrow more and ignor the debt like they have always done.
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  • World War 3 is on its way....
  • edited July 2011
    it aint over 'til the fat lady sings .. and her bubble is not quite yet ready to burst ... 'money' should be renamed MONopolEY
  • World War 3 is on its way....
    it started in 1945,or was it 1914, 1812 or 1066?
  • I blame Gordon Brown...
    some mistake, surely?
    Has to be Thatcher, all the way down the line.
    Pesky special relationship - look where it ends up!
  • I work in finance, but actually have very little interest in economics and dont really understand the complexities of it all

    The one thing I dont really understand is, if everyone and every country is borrowing money, surely someone, somewhere is owed an absolute shed load of cash.

     


    Yes, they are. They are collectively known as The People's Republic of China.
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