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      01-14-2009, 03:33 PM   #23
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Debt will not destroy America, it's the credit for unqualified losers that will destroy America. The idea that credit was extended to people that can't afford it is not a banking problem, it's a consumer problem. Taking on a payment you can't reasonable make is no ones fault but the consumer that took the loan.

Stupid people can destroy anything given the chance.
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      01-14-2009, 04:48 PM   #24
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Quote:
Originally Posted by mjfloyd1 View Post
Again, on the contrary. I do not believe that America will be destroyed. I believe that the great depression was a far worse problem than what we are currently seeing. I believe that the American people are incredibly resilient.

I do think, however, that no matter what your point is, it sounds incredibly stupid to end it with "worth less than the toilet paper you shit on".
Distroyed or not...I probably agree with you in the sense that we will survive.
However, "incredebly resilient" is a HUGE overstatement or a guess as there is no proof for that -- we had spoiled lives in this country for years and it will be hard... I can give you examples of "incredebly resilient" nations out there...
Our generation (in the USA) has not seen a bit of a tough life out there...
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      01-14-2009, 05:06 PM   #25
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yeah and if that happens the Canadian dollar and economy would boom wouldn't it? lmao You're in the same shit bowl.
i am taking chinese lessons in case i need to relocate.
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      01-14-2009, 05:07 PM   #26
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      01-14-2009, 05:09 PM   #27
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Quote:
Originally Posted by The Cleaner View Post
Debt will not destroy America, it's the credit for unqualified losers that will destroy America. The idea that credit was extended to people that can afford it is not a banking problem, it's a consumer problem. Taking on a payment you can't reasonable make is no ones fault but the consumer that took the loan.

Stupid people can destroy anything given the chance.
what if this unqualified loser, this stupid people that you are referring to is the US government? do you think they can borrow infinitely? all countries have a breaking point.
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      01-14-2009, 05:39 PM   #28
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Quote:
Originally Posted by NoKids View Post
what if this unqualified loser, this stupid people that you are referring to is the US government? do you think they can borrow infinitely? all countries have a breaking point.
Fasten your seat belt cause Mr. Obama is about to borrow another trillion bucks to stimulate the economy. Any good economist will tell you it's not the amount of currently in circulation that helps the economy, it's the velocity of the currency. http://en.wikipedia.org/wiki/Velocity_of_money
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      01-14-2009, 05:42 PM   #29
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Quote:
Originally Posted by The Cleaner View Post
Fasten your seat belt cause Mr. Obama is about to borrow another trillion bucks to stimulate the economy. Any good economist will tell you it's not the amount of currently in circulation that helps the economy, it's the velocity of the currency. http://en.wikipedia.org/wiki/Velocity_of_money
That is nothing compared to $5+T that Bush "borrowed" over his 8 years...
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      01-14-2009, 05:46 PM   #30
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Quote:
Originally Posted by dr325i View Post
Distroyed or not...I probably agree with you in the sense that we will survive.
However, "incredebly resilient" is a HUGE overstatement or a guess as there is no proof for that -- we had spoiled lives in this country for years and it will be hard... I can give you examples of "incredebly resilient" nations out there...
Our generation (in the USA) has not seen a bit of a tough life out there...
Ah, we have some common ground after all. I agree with you that our generation, in general, is lazy and spoiled. There is no way that our generation would undertake projects with the amount of manual labor that were completed by previous generations. Our generation feels entitled to everything. (Honestly, though I'm an old fart at the end of the baby boomer generation.) There are still those who choose to work hard and are rewarded, though. Despite all this, I prefer to think that my glass is half full rather than half empty. We've all heard the phrase that "it takes as much energy to smile as to frown" or as one of my associates says "you can't be happy if you're bitter."

I do wonder how people will ever learn from their mistakes if the government continues with all the bail outs. In particular, Cerebrus (?spelling) the private company that bought Chrysler had every opportunity to look at Chrysler's books before they bought it. It seems crazy to me that they get bailed out for making a poor business decision. I've also heard of people that have stopped paying their mortgages so they can renegotiate the terms of their loan. I just don't get it. I have a sense of right and wrong and of responsibility that has apparently been diluted out in the gene pool.
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      01-14-2009, 05:51 PM   #31
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Quote:
Originally Posted by dr325i View Post
That is nothing compared to $5+T that Bush "borrowed" over his 8 years...
Mr. Obama is planning 1 trillion a year, if your 5 trillion figure for Bush's 8 years is accurate then bush only spent 60% of what Obama is planning to spend per year.
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      01-14-2009, 06:48 PM   #32
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Capitalism & This mysterious thing called interest. That will kill us since capitalism creates over spending on what we don't need hence our societies credit issues and our government's over extension.
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      01-14-2009, 08:00 PM   #33
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Quote:
Originally Posted by The Cleaner View Post
Mr. Obama is planning 1 trillion a year, if your 5 trillion figure for Bush's 8 years is accurate then bush only spent 60% of what Obama is planning to spend per year.
Lets see that when it happens -- enough of "Obama will..." crap.
And I doubt that Obama will completely waste $5T over his term like Bush did...
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      01-15-2009, 03:09 PM   #34
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Lets see that when it happens -- enough of "Obama will..." crap.
And I doubt that Obama will completely waste $5T over his term like Bush did...
i wish him all the luck in the world. he'll need it.
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      01-15-2009, 05:40 PM   #35
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i wish him all the luck in the world. he'll need it.
wouldn't anyone...after 8 years of destruction???
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      01-15-2009, 05:45 PM   #36
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Originally Posted by dr325i View Post
wouldn't anyone...after 8 years of destruction???
i just hope that the ugly head of racism won't scuttle his agenda.
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      01-16-2009, 01:08 AM   #37
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Cancer will destroy America.

The cancer starts with large Banks, investment bankers, corporate raiders. All wanting to rape, pillage and plunder America's wealth that the people built up after so much toil and hardship. With a word fortunes are lost and won. It is a game to them. A game that they play to win and damn the rest.

The cancer metastasizes to the legions of snake oil salesmen who are only in it to win votes and pad their own bottom lines. They call themselves representatives of the people. Which people? Pork barrel lobbyists, special interest groups and labor unions are their people.

Why is it so hard to own your own home? Why do 80% of Americans in homes owe so much money? We are nothing more than wage slaves. No better off than indentured servants to the elite.

The media is infected.They wow us with nick nacks and do-dads, and pump our minds with advertising about what the "Jones' " are doing to anesthatize us to what is *really* happening.

Our civil rights are eroded. We go blindly into the dark following our leaders. Just a liberty here and there- we promise it won't hurt. It's for your own protection afterall.

We turn to our leaders for hope and salvation but they only deliver pain and promises because they are empty shells destined to do the same bidding for their masters as we are.

This cancer spreads quickly but quietly in the halls of shame and doubt where no one dares set the spark off that will start something that must be done. Apathy is your true friend now. As long as you can drive your precious cars, and live in your fancy houses, does it really matter?

The cancer wins.
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      01-16-2009, 01:19 AM   #38
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      01-16-2009, 01:55 AM   #39
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when m3's dont come with NA engines.. ;]
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      01-16-2009, 10:34 AM   #40
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Cancer will destroy America.

The cancer starts with large Banks, investment bankers, corporate raiders. All wanting to rape, pillage and plunder America's wealth that the people built up after so much toil and hardship. With a word fortunes are lost and won. It is a game to them. A game that they play to win and damn the rest.

huh?

I'm reading a pretty good book right now, "The Ascent of Money"

In the book - the Author points out that access to capital - i.e. banks, investment banking, etc - allows a country and civilization to expand, rather than contract.

I don't think that debt will cause the US to collapse, but we will have to pay up at least a portion of the debt sooner rather than later.
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      01-16-2009, 12:56 PM   #41
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http://www.pbs.org/wnet/ascentofmone...t-of-money/24/

PBS made the book into a documentary
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      01-16-2009, 03:09 PM   #42
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Quote:
Originally Posted by Diggity View Post
That's all they have to do? Basically kneecap one of their biggest trade partners and give up the billions they have invested in the American economy?

Frankly I'm more worried about the zombie monkeys riding unicorns. Or is it the monkeys riding zombie unicorns? Either way, that sh!t is scary.
+1. Its a two way equation with the US and China. I would like to think that China is smart enough to not be that stupid.
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      01-16-2009, 05:05 PM   #43
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Only the USA can destroy the USA. Unfortunately, the USA is following the example of Rome and destroying itself quite well. Sad.....
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      01-16-2009, 06:01 PM   #44
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Quote:
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Only the USA can destroy the USA. Unfortunately, the USA is following the example of Rome and destroying itself quite well. Sad.....
+10

Enfield, can you please give more detail, im not being sarcastic, i just want to know the philosophy you are referring to
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