Collapse of the US economy imminent

**~~Rani Lakshmibai~~** · 28 May 05,, 22:41

http://www.whatreallyhappened.com/ARTICLE2/doodoo.html

I'd post the article but the pictures don't show up when I cut and paste, and being new to the forum, I suspect there is something you have to do with the stupid pics before they show up....

Check this article out. It says that the problems with the US economy, specifically US fiscal debt is worse than the politicians say it is. In fact, it's so bad that the author holds that the US government has passed the point where it is unable to pay the interest on its debt load effectively.

Meaning that it is only going to be a matter of time before there is a run on the US government and its economy collapses. And if it does, so does much of the world economy, especially China's and Japan's economies as well, maybe even Britain's too.

My question is: Is the article valid? Are the truths it claims factual? The article already has two strikes against it, one being that it is hosted on a conspiracy type website, and two that it offers does not quote any other sources to back up its claim.

I'm ignorant for the most part when it comes to economics, even if I'm a business administration student but in my defence, I've had only two economics courses in the one year I've been at university. I would like someone who is quite knowledgeable about economics to explain to me why or why not this article is true. None of the usual American denouncements and *****ing about why it can't be that bad and so on, I want everything backed up by evidence.

I'm interested in the truth, I mean come on, if the world economy was going to collapse, wouldn't you like to know about it? But some of the claims made by the article seem to be ludicrous, but I wouldn't put it past the Americans to do things like that considering all the other ways they lie, steal, invade, threaten, overthrow democratically elected governments and replace them with puppets and generally interfere in matters that don't concern them. If you go to the home page, www.whatreallyhappened.com, do a search and you can find dozens of articles on the US economy. Some of them are taken from quite reputable sources too.

Maybe there is something to this claim after all.....

**Leader** · 28 May 05,, 22:48

No respectable economist thinks the US economy is on the verge of collapse.

**Confed999** · 28 May 05,, 23:11

Originally Posted by Rani Lakshmibai

but I wouldn't put it past the Americans to do things like that considering all the other ways they lie, steal, invade, threaten, overthrow democratically elected governments and replace them with puppets and generally interfere in matters that don't concern them.

**~~Rani Lakshmibai~~** · 28 May 05,, 23:53

I remember you did that in my introductory thread too

. C'mon, you think overthrowing a democratically elected government in Iraq and putting Saddam in its place, jointly conspiring with the French and cancelling the elections (late 50s I believe) in Vietnam because the winner would be pro-communist etc. doesn't qualify America as a rogue state?

And lets not turn this thread into an anti-American rant, I just want to know about the validity of the article.

No respectable economist thinks the US economy is on the verge of collapse.

Read the article, if even a portion of its claims are true and if the economists knew it, then their opinions might be different. That's the problem with economists and scientists, they generally stick to proven facts and statements when they write a paper on it. So if the American government has been moving around figures like the author says they have, and if these figures are not available for public perusal, then the economists beliefs would be misplaced, would they not?

I don't know.... the American dollar steadily declining in value, the trade imbalance reaching epic proportions, a lose of manufacturing capability, the national debt approaching unmanageable levels, the social security system in shambles (not good considering that the baby boomers are retiring soon) etc. .... shouldn't be a surprise that I'm starting to wonder whether there is some truth to this guy's claims.

**Bill** · 29 May 05,, 00:04

It's for times like this that i keep a tinfoil hat handy.

HA!!!!

Your braincontrol waves have no effect on me!!!

**Leader** · 29 May 05,, 00:24

Originally Posted by Rani Lakshmibai

I remember you did that in my introductory thread too

. C'mon, you think overthrowing a democratically elected government in Iraq and putting Saddam in its place, jointly conspiring with the French and cancelling the elections (late 50s I believe) in Vietnam because the winner would be pro-communist etc. doesn't qualify America as a rogue state?

And lets not turn this thread into an anti-American rant, I just want to know about the validity of the article.

Read the article, if even a portion of its claims are true and if the economists knew it, then their opinions might be different. That's the problem with economists and scientists, they generally stick to proven facts and statements when they write a paper on it. So if the American government has been moving around figures like the author says they have, and if these figures are not available for public perusal, then the economists beliefs would be misplaced, would they not?

I don't know.... the American dollar steadily declining in value, the trade imbalance reaching epic proportions, a lose of manufacturing capability, the national debt approaching unmanageable levels, the social security system in shambles (not good considering that the baby boomers are retiring soon) etc. .... shouldn't be a surprise that I'm starting to wonder whether there is some truth to this guy's claims.

I got to here:

Based on recent history, kids see the "big bucks" are in corporate law, specifically investment banking, leveraged buyouts, greenmail, junk bonds, in short what other countries describe as "trying to make money grow by shaking it side to side".

Then I decided this wasn't worth my time. First, I'm a Finance Major and therefore have some concept of investment banking and economics. Second, corporate law has nothing to do with investment banking. Investment banking isn't about "trying to make money grow by shaking it side to side." Investment banks sell shock in new companies so that those companies have the capital to expand, which creates jobs. His argument about manufacturing is also pure BS. When you sell manufacturing rights, you get cash and the other party assumes the costs and risks of production.

**Confed999** · 29 May 05,, 00:33

Originally Posted by Rani Lakshmibai

I remember you did that in my introductory thread too

And you couldn't back it up then either.

Originally Posted by Rani Lakshmibai

C'mon, you think overthrowing a democratically elected government in Iraq and putting Saddam in its place

Huh? When did the USA overthrow the government of pre-Saddam Iraq? Egypt is the one that backed the Baath into power long before Saddam began to take control as the VP of Iraq.

Originally Posted by Rani Lakshmibai

jointly conspiring with the French and cancelling the elections (late 50s I believe) in Vietnam because the winner would be pro-communist etc. doesn't qualify America as a rogue state?

We were/are at war with communism, so no it doesn't. Please provide a link to a reputable source stating a communist government would have emerged. Either way, how does that rate "rouge state"? And if it does still rate "rouge state", how does that translate 50 years later?

Originally Posted by Rani Lakshmibai

And lets not turn this thread into an anti-American rant

You're the one ranting, I'm the one calling you on it.

**lwarmonger** · 29 May 05,, 00:52

Originally Posted by Rani Lakshmibai

I remember you did that in my introductory thread too

. C'mon, you think overthrowing a democratically elected government in Iraq and putting Saddam in its place, jointly conspiring with the French and cancelling the elections (late 50s I believe) in Vietnam because the winner would be pro-communist etc. doesn't qualify America as a rogue state?

We backed the Ba'athists after they had gained power, and to beat the Iranians over the head. The French would sell poison to their mothers, and so their support of the Iraqi nuclear program is hardly surprising. As for economic collapse, our manufacturing capabilities are still far greater than any other nation on earth. What this author is looking at is absolutes, and not the circumstances surroudning them. The US possessed 50% of the worlds manufacturing capability after WWII. That was because everyone elses economy was largely destroyed. It is only natural that our relative economic strength comes down over time. We are, and going to be, a formidable power indefinately. A combination of our nuclear deterrant, superior military strength, and atmosphere that is condusive to business and investment ensures that.

**Confed999** · 29 May 05,, 01:01

Originally Posted by lwarmonger

We backed the Ba'athists after they had gained power, and to beat the Iranians over the head.

Yep, and even then only durring the Iran Iraq war after Iran started shooting at the US ships in the Gulf. The US contribution in military support came out to 1%, with the top two being France and the USSR/Russia, both in the 40% range. France and Russia were still supporting Saddam durring sanctions.

**troung** · 29 May 05,, 03:23

The US contribution in military support came out to 1%, with the top two being France and the USSR/Russia, both in the 40% range.

To flesh it out we did supply them with helicopters (45 Bell 214STs, 60 MD-500s, a couple S-61s,). But hell we sold Iran more then that during the war. And more important intel information of radar locations and data on the Iranian military. Plus USN ships did play support for Iraqi air strikes on Iranian oil targets. But seeing as Iraq used more French, Chinese, Brazilian and Russian equipment American weapons were not the most important part of their military but our intel was very important.

As for kicking down democracy in Iraq, they never had it. The Baath party kicked out a military junta that kicked out the royals who were put in place by the British. I didn't support the war but I simply hate people claiming the USA put Saddam in place as if he was out stooge. The best part about Saddam was the fact he was already there in place/power and not fond of Iran.

Maybe this "very smart" young man meant Iran and the Shah... doubt he knows what happened there.

Putting on tin foil hat...

**Confed999** · 29 May 05,, 03:40

Originally Posted by troung

Putting on tin foil hat...

That's probably a good plan.

**troung** · 29 May 05,, 04:19

I don't want the super far right or super far left or overseas anti American groups to read my mind and plant thoughts...

The Bilderburgs want to steal my cheetos....

**Confed999** · 29 May 05,, 04:29

Originally Posted by troung

The Bilderburgs want to steal my cheetos....

Sadly, I would freely give them mine, all they have to do is ask.

**Julie** · 29 May 05,, 13:15

The article is United States Congressional Record - March 17, 1993. It projects through 2000. It is now 2005.

The current Administration is in the process of closing and regrouping many military bases in the US, as well as across the globe, which will save billions of dollars of taxpayers money. I am sure this justifiable move was not anticipated in that article.

Present Day - Purchases of imported goods and services reduce the GDP, while exports, which grew to record levels in March, increase the measure of the nation's economic activity. Stocks are up and oil prices fell below $49.00/barrel, and the prices at the pump are the lowest in weeks.

That's all I need to know.

http://money.cnn.com/news/economy/

**~~konkerer~~** · 29 May 05,, 15:20

Rani Lakshibai,

Stop posting nonsensical article from idiotic sources.

If you have time to waste on these garbage sites, feel free. Just don't waste ours.