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U.S. Debt Crisis May Cause 'Fall of Rome' Scenario, Duncan Says

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posted on Sep, 23 2009 @ 06:57 PM
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U.S. Debt Crisis May Cause 'Fall of Rome' Scenario, Duncan Says


www.bloomberg.com

Sept. 23 (Bloomberg) -- U.S. budget deficits will continue to pile up in the next decade, eventually reaching an unsustainable level that may result in an economic collapse, according to Richard Duncan, author of “The Dollar Crisis.”

The U.S. has little chance of resolving its deteriorating financial position because the manufacturing industry continues to shrink, leaving the nation with few goods to export, said Duncan, now at Singapore-based Blackhorse Asset Management.

(visit the link for the full news article)




posted on Sep, 23 2009 @ 06:57 PM
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But wait, what about Bernanke telling us that we are on the cusp of recovery?

Mind your money I think his comments are a ploy and
propaganda doublespeak!

This is on Bloomberg news! Sure we read these predictions in GEAB, but on the MSM?

9.05 Trillion dollars of debt in the next 10 years?

That is what we will have if the looting continues...
Rising Unemployment.....
Workers will continue to see falling wages...
Inflation....

Green Shoots eh?

www.bloomberg.com
(visit the link for the full news article)

[edit on 23-9-2009 by burntheships]



posted on Sep, 23 2009 @ 07:24 PM
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It's okay................because it's George Bush's fault. Our government is going to help us all out, now, after we've been raped and our treasury has been robbed. Heh. Something interesting is happening in my personal sphere. My dear sister, who has proclaimed loudly and irritatingly for years, oh, since I guess sometime around November 1968, that the evil Republicans and conservatives are destroying the U.S. of A., no longer wants to talk economics and politics. I don't ask her why. I am just glad she has shut up and possibly sees, it's not the party either in control or out of control, the same stuff happens and will continue to happen. The last time she spoke out about politics was in February of this year. She brought to my attention that GWB overspent more than all presidents combined, before him. Well, I have heard that is true. That was her premise, though, that Obama would be a great leader. He would reverse this trend. I think she might be seeing a bit of light, now. Not light at the end of a tunnel situation, but the light of truth in government actions. Yep, we are all going down in this economic turmoil. Well, at least, most of us. She has always believed that the poor will be raised, the rich will be made humble and she won't be affected. Ain't gonna happen like that. I hope I wasn't too off topic. But, 10 trillion dollars debt can't be ignored. It ain't going away without a complete overhaul of society and economics. And I believe it will get ugly. Soon.

Cusp of a recovery.



posted on Sep, 23 2009 @ 07:25 PM
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I'm expecting this on a smaller time scale. Only because of the actions of the people. The FED will be audited, and such a scenario will be made far more credible a lot sooner.



posted on Sep, 23 2009 @ 07:34 PM
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I noticed that article too.
What are "they" trying to achieve with a news-item like this one? I'll look for strange market-behavior in the following days. This sure is not a good sign and doesn't help to create confidence in the financial sector.



posted on Sep, 23 2009 @ 07:44 PM
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Originally posted by burntheships
Mind your money I think his comments are a ploy and
propagand doublespeak!

Doublespeak from Washington? Why I never...


9.05 Trillion dollars of debt in the next 10 years?

That is what we will have if the looting continues...
Rising Unemployment.....
Workers will continue to see falling wages...
Inflation....

Wait just a minute here.
Are you Sir, insinuating that we will still have "workers" whos wages could fall ten years from now?
I don't believe a word of it, and you Sir, should be ashamed of yourself.
We all know that there will be no jobs left in ten years, and I demand that you take back that slanderous claim, It hurts my national pride.



posted on Sep, 23 2009 @ 08:21 PM
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My original projection was 2019, but I fear it may come before that.

I don't think the nation is going to collapse entirely like the western half of the Roman Empire did. Sure there will be civil disorder and unrest, but I think government in some form will survive. It may not be federal, constitutional or republican though.

I think the most likely scenario will involve the collapse of entire state governments, especially California and New York. Entire regions of the country will become centrally administered and managed. The entire Northeast Corridor (Bos-Wash Megapolitan Zone) will most likely be the core of the central government as it is now, but without the state governments.

There will be troubled areas. Imagine operations today in Iraq and Afghanistan. Military convoys and patrols along the Interstate Highway System. Foward Operating Bases and Firebases in the Intermountain West.

The former United States will be a Crisis State, but I think some form of central government will survive. The military would definitely survive the crisis and it very well could become the central government.

Until things stabilized, life would be brutal. The standard of living would resemble that of a Third World Country. Regions of the country would have to be pacified by force. The tar sands and oil shale of the Intermountain West will be absolutely vital to national security.

In the end I think we will come out stronger than we have ever been. Our manufacturing and industrial base will return. Conscription would become part of life. I think it could be comparable to the transition between the Roman Republic to the Roman Empire. Where we go from there I'm not sure, but anything is possible.

Service Earns Citizenship
Ave Columbia!



posted on Sep, 23 2009 @ 10:11 PM
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Originally posted by kyred
And I believe it will get ugly. Soon.

Cusp of a recovery.


My feelings exactly...and then in the middle of the night....


reply to post by projectvxn
 


Yes more like 2010...or October 2009.



posted on Sep, 23 2009 @ 10:19 PM
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reply to post by burntheships
 


Yup...Too bad we as Americans don't have the bath houses and whores like ancient Rome used to. At least the peasants could enjoy some fun



posted on Sep, 23 2009 @ 10:22 PM
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reply to post by ashamedamerican
 


You mean am I madam, yes I am a lady...am I insinuating that wages could fall for 10 years....LOL now that you put it that way...

NO...

It will fall soon, and very soon.



posted on Sep, 23 2009 @ 10:25 PM
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reply to post by RightWingAvenger
 

But we do have whores like ancient Rome had .

Here we call them "Congress."



posted on Sep, 23 2009 @ 10:25 PM
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Originally posted by MikeboydUS

In the end I think we will come out stronger than we have ever been. Our manufacturing and industrial base will return. Conscription would become part of life. I think it could be comparable to the transition between the Roman Republic to the Roman Empire. Where we go from there I'm not sure, but anything is possible.




That would be a dream, not just for us, but for the whole world.
But alas, I am afraid it is only a dream!



posted on Sep, 23 2009 @ 10:26 PM
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Originally posted by dooper
reply to post by RightWingAvenger
 

But we do have whores like ancient Rome had .

Here we call them "Congress."


Thank you and You saved RightWingAvenger from a scathing
response from burntheships.



posted on Sep, 23 2009 @ 10:28 PM
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reply to post by MikeboydUS
 
Wow! What you are describing is the outright theft of natural resources belonging to the western states by the east coast establishment responsible for the finacial mess to begin with. People from natural resource rich Texas make up a significant portion of the armed forces. The shale feilds are in Utah. The culture of those expected steal from Utah is quite a bit different from the culture of those planning to benefit from the theft. I am afraid we are heading the way of the Roman Empire. One side of the country will become a hell hole; the other side will remain strong.

On a side note I have noticed many people want to get the Hell away from the east coast ;many want to move to the west to places like Texas. This has nothing to do with economics ;it has everything to do with culture and freedom.



[edit on 23-9-2009 by eradown]



posted on Sep, 23 2009 @ 10:57 PM
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Originally posted by RightWingAvenger
reply to post by burntheships
 


Yup...Too bad we as Americans don't have the bath houses and whores like ancient Rome used to. At least the peasants could enjoy some fun


I don't know where you are living but I know where to find both of those in my area! Not that I've been to, I just happen to know.



posted on Sep, 23 2009 @ 11:07 PM
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reply to post by eradown
 


There will be factions that see the securing and strip mining of resources in the Intermountain West as exploitation and theft, hence the need for FOBs and firebases.

Texas on the other hand should come out in a vastly influential position.
As most of the state governments go bankrupt and collapse, Texas will not only be one of the few to survive, it will strengthen. Much of the heart of the military industrial complex and the energy industries are based in Texas. The defense industries and energy industries will heavily profit during and after the crisis. New refineries and pipelines will have to be built. New weapons systems will be developed and fielded.

The Texans in these industries could very well become a Patrician Class in the new regime if not members of the Junta, Triumvirate or Directorate running the central government.

Look at it this way, Texas will help save the country.


[edit on 23/9/09 by MikeboydUS]



posted on Sep, 25 2009 @ 08:30 PM
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reply to post by MikeboydUS
 


Mikey-where is all this going to happen .on Araknia?.KMG



posted on Sep, 25 2009 @ 08:37 PM
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There are some who say this will be a "V" shaped recovery. Housing is down again after just a few months of rising. This thing isn't over yet. We have another downturn to live through before any real recovery...if we get there at all.



I_R



posted on Sep, 26 2009 @ 06:24 PM
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Originally posted by kissmygrits
reply to post by MikeboydUS
 


Mikey-where is all this going to happen .on Araknia?.KMG


These are just projections based on my own research of current events and history. Things could easly go this way, but they don't have to. At the same time if you think these things are impossible, you need to get your head out of the ground.

Its a fact that many state governments are almost bankrupt right now, especially California and New York.

Its a fact that the International Monetary Fund released reports that project that the US National Debt will surpass its GDP before 2020.

Its a fact that liabilities surpassing assets equal insolvency.

That kind of insolvency will cause hyperinflation. The US dollar will become like the Weimar Deutschmark.

Do you think the federal government is just going to sit idly by while state governments go bankrupt and shutdown?

I know people don't like to deal with negative things and terrible events, but they are a part of life. Look at the 20th century with World War I, WWII, and the Cold War. Look at the 19th century with the Napoleonic Wars, the epidemic of revolutions, civil wars, and imperialism.

Bad things happen. There is nothing wrong with doing research and making projections. He who fails to plan, plans to fail



posted on Sep, 26 2009 @ 06:46 PM
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In truth,

according to some,

the sky is always falling in.

I am not saying that we have no worries, but rather that those worries may be misplaced or unimportant.

When I say unimportant, I mean that the only people that the collapse of the capitalist system will harm is the people who are all out capitalist.

In other words, If money is your god, you're in for a rough ride.

If money isn't your god, then it's pretty much just more of the same.

Why, as soon as rich people stop getting richer, is it a crisis?

Why is it not a crisis when we lose our liberties, or our sense of national pride, or our freedoms? (such as they are)

It's not a crisis because the people who are losing most money are the people who have most money, and they're the ones who control the media, and they're the one's who tell people what is and isn't a crisis.

I've been denigrating our system and all that this Keynesian economic policy damages us for a long time.

Keynesian crossed with the myth of drip down economics - could there possibly be a worse combination for the "ordinary" person?

Of course this works both ways as far as propaganda goes - the "market" says "we're picking up"
The doomsayers say "we are all going to be skint and it'll $80,000 for a loaf of bread"

I suppose you have to fight fire with fire and propaganda with propaganda, but it just annoys the crap out of me.

The truth, as usual, lies somewhere in the middle.

For all those who are worried about their shares having bought into the dream, I hope the second option is true - because greed has contributed to the downfall.

Welcome to the modern American Dream.

[edit on 26/9/2009 by budski]



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