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Could this country be about to fall off fiscal cliff?

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posted on Jun, 24 2012 @ 06:27 AM
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Does this surprise anyone on this Website or in this forum? I never heard of the man, but its echoing what others are saying. Of course, it promotes the dudes book, but if your interested it might be worth reading

However, with the credit downgrade this year to the country, and now the 5 of the top banks here in this country, you know things aren't right. If you're unemployed you know things aren't right. How much more money is China going to lend us before they get tired of it. I thought we were already warned of spending too much by them earlier this year.

Whatever the case I think we might be in for more world of hurt, what do you think?

I'm not versed in economics, but common sense tells you can't create money out of thin air all the time, and keep expecting it to keeping working, or keep borrowing from someone and not expect them to what to be paid back at some point in time.





Joseph Stiglitz




The US economy is likely to fall over a "fiscal cliff" at the start of next year because Washington will be too divided to stop it, Joseph Stiglitz, one of the world’s leading economists, has warnedAmerica faces a combination of tax increases and spending cuts in January which risk plunging the world’s biggest economy back into recession if they are all allowed to happen, he said.















































edit on 24-6-2012 by 1loserel2 because: change

edit on 24-6-2012 by 1loserel2 because: typo

edit on 24-6-2012 by 1loserel2 because: add




posted on Jun, 24 2012 @ 06:55 AM
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Yes. Its clear.

People should be freaking the hell out.

I do not understand the complacency Americans have.

It is not if, but when. And its looking sooner and sooner every day.

edit- And if you guys think Obama or Romney will fix anything, you will find that you could not be more wrong.
edit on 24-6-2012 by Germanicus because: (no reason given)



posted on Jun, 24 2012 @ 07:01 AM
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It is and it is not an accident. Does anyone believe that what is going on can continue? This is not about politics. Both parties are CFR controlled. Obama started off with $10,000,000,000,000 in debt. He now has $16,000,000,000,000 in debt. A lot of this is due to "bush era policies" being funded, so says the Obama admin to give their base a bone to chew. When Obama leaves office the debt will continue to grown due to his policies and the new president following CFR policy. This is not about political parties. It is about a fifth column that has been operating in the USA for decades.

The United States is a house of cards that is being stacked dangerously high and will be deliberately knocked down. It is all planned. And what comes after is also planned.

You had better be ready. If that is possible.
edit on 24-6-2012 by Numbers33four because: (no reason given)



posted on Jun, 24 2012 @ 07:03 AM
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reply to post by 1loserel2
 


America is in a storm of economic trouble right now, and that is without the cuts needed actually being implemented.

You already have massive unemployment, massive homelessness, Occupy protests in numerous states, and all of this is without any real cuts being made and no austerity measures being enacted.

If America thinks it's in bad shape now, just wait until your government actually makes some of the cuts that are going to be needed - then you'll know what it's like to live in a third-word country.



posted on Jun, 24 2012 @ 07:11 AM
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reply to post by Germanicus
 


I know I don't understand the attitude many Americans have, the Dept of Education, and Teachers union have done a fine job in dumbing the people for more moments like this.

Right now I doubt that there's anyone that can fix us, I think we may be too far gone. Ron Paul might've had a slight edge over this, that's why he Establishment didn't want him.
edit on 24-6-2012 by 1loserel2 because: typo



posted on Jun, 24 2012 @ 07:14 AM
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Originally posted by Germanicus
Yes. Its clear.

People should be freaking the hell out.

I do not understand the complacency Americans have.

It is not if, but when. And its looking sooner and sooner every day.

edit- And if you guys think Obama or Romney will fix anything, you will find that you could not be more wrong.
edit on 24-6-2012 by Germanicus because: (no reason given)


I agree, but we have the same situation here in the UK too. People are far too detached from the realities of our economy, and that's because people have had the power taken out of their hands. Too many people have blindly trusted their government to act correctly for them, and they then ignored all the massive corruption and what amounts to a military coup in their nation, all for an easy life where they didn't have to think about things.

People have been distracted by lesser arguments while the real issues are swept through behind closed doors. Politically engaged people rant about gay marriage (even though changes in law actually don't affect them AT ALL), while their government passes another bill giving a corporation control over their water supply or giving the military the power to arrest and detain anyone in the world for any reason.

I'm being generous there too, because in reality far more people are too concerned about who wins American Idol than they are about what they would do if their government stopped providing social safety nets.

As I mentioned, it's the same in the UK too. For the past few years I've been trying to explain to people around me what will happen when the € collapses, and they just look at me with a blank expression. It's like the soundtrack to East Enders is playing in their brain and blocking out all common sense and the ability to comprehend English.

If people knew what is coming, they would already by protesting outside every government building just as they have been in Greece. And one day they will be.

It's a shame, but it will take people no longer being able to buy their Nikes or order pizza on a Sat night before they start to actually get it.



posted on Jun, 24 2012 @ 07:15 AM
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Who is the LEAST intelligent,,Bush or Obama//? Who understands the economy better ? they both suck



posted on Jun, 24 2012 @ 07:21 AM
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reply to post by detachedindividual
 


The problem with Australia is that we actually have it too good.

We have some problems but for the most part, people are happy and there is money around.

The problem is, we are a ticking time bomb. Things have been put in place to destroy our economy like 'covered bond legislation' last year. 95% of Australians would have no idea about the 'covered bond legislation' or the great risk it put our people at. The next GFC will blow us up. Last GFC we did ok because we were not really linked up with the west that bad because of our location in the world. Since the GFC, we have been positioned as one of the load bearing colomn in the western house of cards. We are as doomed as the next western country next time. People are too happy to notice. When they do, it will be too late.



posted on Jun, 24 2012 @ 07:21 AM
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reply to post by avatard
 


I don't know who's less intelligent, but they're both out of touch with the common person, and therefore, I have a tendency to agree with you. I think President Obama made a mistake in pushing his unpopular Healthcare bill.
edit on 24-6-2012 by 1loserel2 because: add



posted on Jun, 24 2012 @ 07:32 AM
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You do realise this is an international website accessable by all 196 countries accross the world. You do realise that there are 195 countries other than the USA right, because judging by your thread title you do not. You do nothing to dispell the steriotype of Americans as viewed by Europeans.





Could this country be about to fall off fiscal cliff? Which country would that be then?



posted on Jun, 24 2012 @ 07:52 AM
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reply to post by michael1983l
 


Sorry,
I apologize, thought I had put US, in headlines, I know it was in the title originally. Thanks for the reminder. Will post a new thread since its past time evidently to edit.



posted on Jun, 24 2012 @ 09:49 AM
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reply to post by detachedindividual
 


You're right there, also, please include in the Nike and American Idol category. tickets to sporting events. Standing room only tickets for the NBA finals was at $185.00. That could really help with paying someones utility or a portion of rent, or do some grocery shopping with it.

I have a feeling when the SHTF there will be people regretting being so flip with their money, and it'll be too late for regrets. I do feel sympathy for the sheeple who have been gullibly following whatever leader, whose personality or looks they like, but am also upset, that same reactions have gotten the rest of us thinkers and responsible people into this fine mess.



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