U.S. economy heading straight for the cliff

Discussion in 'Americas' started by pakdefender, Jun 6, 2012.

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  1. truthseer
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    truthseer SENIOR MEMBER

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    You mean how Obummer doubled the National debt!
  2. LeGenD
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    LeGenD FULL MEMBER

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    No, the recent budget cuts.

    Also, political deadlocks are slowing down economic reforms. But Mr. Ben has started to send his message finally.

    US debt issue will be resolved once WOT is over.
  3. truthseer
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    truthseer SENIOR MEMBER

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    *wonders how US can pay back more than they earn*
  4. LeGenD
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    LeGenD FULL MEMBER

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    Annual revenue of US is around 5 Trillion USD

    Annual expenditure of US is around 6 Trillion USD

    The budget related cuts are being implemented to eliminate this fiscal gap. This will not happen overnight though.
  5. truthseer
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    truthseer SENIOR MEMBER

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    It may seem that it's near but the US has to cut around 16% of their expenses and that's not accounting for the many wars they are going to wage in future.
    You seem a person who is misled by the grandeur of the States, it is but a deceptive cover. All that glitters in not gold, not all that shines is perfect. The US is a flawed state. Without a great leader like in the 1920's, they will fall by the wayside of history and into the gutter!
  6. lem34
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    lem34 MEMBER

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    In the last 20 years there are two occasions that Israel would have defaulted without American support and guarantees

    You speak without reading what I have put up. I am real it's just that some like you are awed by their supposed omnipotence and are in denial

    External stakeholders will force US to reform- Americans will have to do what others demand of them including having a lower standard of living.

    The reforms you are talking about are just tinkerings.


    Its quite simple really the Americans will sooner or later have to live within their means whether that be voluntarily or as you put it be forced to by stakeholders
  7. LeGenD
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    LeGenD FULL MEMBER

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    Of course, it is a long term plan.

    May be the next administration speed up the reforms? Or do you think that Obama is last of the US leaders?

    I judge US economic system on the basis of its history and not just future projections like many here do.

    I have never stated that US economic system is flawless. Of course, US have faced economic crises several times.

    However, I am not quick at jumping towards conclusion. I do not fall for claims so easily.

    When US economic system will start to fail in real sense, its effects will be visible clearly at global stage. Till then, no need to speculate uselessly.

    I do check every source you cite. Do you check those which I cite and learn a thing or two from them?

    And I never stated that US is omnipotent. US often faces 'crises' like other countries, doesn't it?

    External pressures are important determinants. Other countries which are vital business partners of US will put pressure on US to resolve its issues. Countries are already doing this.

    You think that China puts no pressure on US?

    The time for 'living beyond the means' for Americans is up now.

    US corporations themselves are no longer to willing to oblige Americans so much now.

    It is start. And it confirms my point that reforms will take place. You expect results within few months?

    Yes. Now you are making sense.

    US is not immune to external pressure. And the game has just begun.
  8. truthseer
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    truthseer SENIOR MEMBER

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    He's already got the next election in the bag. Discrimination is rife in the U.S and it would be the death of many to vote for a Mormon as President

    History will not help it in times of need, action will

    True, one must not speculate idly but every thing suggests that the value of the dollar and the US economy will fall before it can recover.
  9. shelly
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    shelly BANNED

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    you guys still dont get it do you? the people are the best resources of a country. it depends on the people how to shape themselves. and israel has done a great job at that. and the mslim countries the worst on that front
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  10. truthseer
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    truthseer SENIOR MEMBER

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    This thread is neither about Israel nor about the Muslim countries but about the U.S and how it's economy is failing!
  11. LeGenD
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    LeGenD FULL MEMBER

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    I do not work with speculations. Sorry.

    And what does US history teaches? Action or speculation?

    Please start paying attention to facts at hand.

    Speculations regarding devaluation of US dollar have existed since 2001 as far as I remember. Yet, amazingly, dollar remained strong through all thick and thin and against all odds.

    If dollar gets devalued, it will by US choice, as many US experts have stated on several occasions. And unless any country is willing to take the place of US dollar, it is not going anywhere.

    At the moment, their is much greater chance for collapse of Euro - which some Pakistani believed to be the (potential) future replacement of dollar. See? This is why we suck in economic affairs.
  12. truthseer
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    truthseer SENIOR MEMBER

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    I assumed you'd say that. Sadly for you, I have facts.
    Why Are Mormons the Third-Most-Hated Religious Group in America? - Flunking Sainthood

    .
    You are once again ignoring the fact that this situation has never happened. In the recession, the debt was never OVER 100%

    The Chinese may, soon!

    I never said it was. You are generalising!
  13. shelly
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    shelly BANNED

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    agree i was just replying
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  14. LeGenD
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    LeGenD FULL MEMBER

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    My point is in regard to who will win the upcoming election. I prefer not to get involved in predictions.

    Americans have history of giving chances to new individuals. If they can elect a black President eventually, they can do more.

    Most of that debt is internal. And measures are under consideration to resolve it.

    China has no immediate plan to float its currency openly and make it a replacement of US dollar. Get your facts straight.

    I am not.

    We lack vision and insight in these matters. This is why Pakistani economic system is so flawed.
  15. truthseer
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    truthseer SENIOR MEMBER

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    I'll reply to you later as I have my Uni classes now