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4 experts say: The American economy is doomed!

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posted on Jan, 18 2005 @ 09:59 AM
This is of interest to me, because the Arubian guilder is pegged to the American dollar. So if the dollar goes down, the guilder goes down...

4 economic prophets of doom

Imagine the future as these experts do: a world where the dollar is scorned, America needs foreign aid, oil is $150 a barrel and big drug companies no longer save lives.

By Dan Ackman, Forbes

The stock market is up and economic growth has been steady, if unspectacular. But, an increasing number of economists are seeing serious storms build on the horizon. They point to ever-growing federal budget deficits, a record trade deficit, increased consumer debt, a real estate market that looks like a bubble ready to burst, a surge in personal bankruptcies and the prospect of inflation.

Meanwhile, interest rates are on the rise, and if they increase much more, many of these problems could get dramatically worse.

Doomsayers tend to be ignored -- until it's too late. Now we're giving four prophets of doom their say.

[edit on 18-1-2005 by TheBandit795]

posted on Jan, 18 2005 @ 01:59 PM
There is not much interest for the subject apparently... Even though this is going to impact the whole U.S.A. and lots of other countries (like mine) negatively.

If these people are right, a lot of you people living in the United States will be living like people in a third world country soon. Starvation, epidemics etc...

posted on Jan, 19 2005 @ 02:20 PM
I am but an amateur in economics, but this reads like propoganda, though I won't downgrade the threat we are now presented with. The thing to remember is this: Oil consumption produced a global reliance that is now being challenged.....this has to have been accounted for by ananlysts before. Transition periods historically have been rough, and that is what we are facing in the not too far off future. Transition from one major resource to what I predict will be a utilization of a couple. Transition is the key concept. The U.S., despite lack of publicity in this arena, is among the leaders in alternative energy resources. Come time, the switch will be made. But not without a rough transition.

Edit to note: I apologize for the rough read; subsequent posts will be more organized.

[edit on 19-1-2005 by MemoryShock]

posted on Jan, 19 2005 @ 04:52 PM
The problem bandit is that people does not have felt much yet here in the US, but when you leave the country and go to Europe that is when you see what your American dollar is worth it.

As long as we hear about it but don't feel it directly nobody will get alarm.

But you are right is coming and faster that most imagine.

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