The Economic Collapse

I'd say the two options for Greece are, either 75% of their total debt is forgiven and they get their deficit under control, or they go iceland and quit the Euro and kick the bankers out of their country.

The only problem for Greece is their European Socialist Welfare state. Iceland had a very small population, and they were able to get away with kicking the bankers out because there wasn't the massive entitlement spending like you see in Greece, so they could stabilize their currency relatively quickly.

With Greece's existing welfare spending making up such a huge percentage of their budget, If they quit the Euro they would take at least a 100% deduction in any National currency based on Euro's, and if they continued to rack up debt, they could soon find their currency in hyper-inflation...

Eventually Greece will be forced out of the Eurozone no matter what, their GDP is imploding, they can't maintain these type of Austerity Measures forever, and the more they cut, the lower the GDP falls...

It's a spiral now, every time you cut the economy gets worse, spend more and you only increase the problem, they will have to take drastic measures...

Gotta love Ann Barnhardt and she's right on the money....

I just started collecting social security early at 62. Friend of mine is waiting till he's 65 for a bigger check. He'll be lucky if he collects anything....

your right about that. very few are ready for what is coming down the pike.

They are very good at kicking the can down the road though.

People who expect the crash to happen any day now, for the past few years, underestimate the savviness of bankers and their conditionalities, and corrupt governments and their austerity measures.

We will not see a full blown crash. It is going to be a soft landing. Society's living standard will slowly but surely decline until the debts are under control.

For Americans it is going to be very interesting in the near future. The fiscal cliff is going to force the government to develop and implement a long term strategy, and it not going to be pretty.

Over here in Europe it is a bit of a different story but the outcome will pretty much be the same.

"Unless huge amounts of Greece debts are fogiven"

And that is exactly what will happen.

Once US bonds are downgraded from AAA to AA it's over.
I'm thinking around late April or early May.
Setting the stage for the shit really hitting the fan in the summer.
Hyperinflation and the whole bit.

It is going to happen sooner or later that much is certain.
Maybe Obama winning was a good thing.
Sooner would be better than later for me.

i agree sooner would be better than later. what republicans need to do is just get out of the way and let it go, and don't be seen to obstruct the won no matter what. they do need to do is issue lots of warnings and say they don't agree with certain policies but oblamebush has the will of the people and we can not obstruct their will.

5 years from now the eternally stupid will still blame bush, but a light bulb may just go on in some feeble lefty brain and they will realize that welfare states no matter how big or small never succeed.

This girl makes some good points about how things don't add up, but then she loses all credibility by regressing into typical American religious extremist rubbish.

True there will be a collapse, but she seems to think all will be well if we just go back to a 'pure' capitalism without computerised trading etc. Truth is missus that the world has too many people and too many conflicting interests, and too little resources and too much ignorance.

The current system can't work, but neither can hers - nor for that matter anything we have tried before. To be honest I'm resigned to the fact that collapse is not just inevitable but actually needed as part of nature's cycle. We have grown too big - our last chance to sustain the growth and prosperity came and went with our failure to get off this rock and start colonising space during the 60s/70s.

I agree! I love her too! Especially her youtube video where she rips Lindsey Graham and new one then burns a quran. The bacon bookmarks were genius.

Been on her website lately? I was there a couple of weeks ago. The IRS confiscated $20,000.00 she had in her bank account .. left her with $100.00.

Do people in the UK have any critical thinking skills at all? Her argument does not depend on her religious beliefs, it stands on its own. She articulates religious ideas only when talking about clergy, and their view on health care. Those arguments are directed at clergy. But the argument is also couched in economic terms.
1. You cannot provide an unlimited amount of an item free of charge to people.
2. The item in question is the labor of other people.
3. Forcing other people to provide their labor in unlimited amounts (at a price set by government) reduces those workers (doctors) to slavery.
4. Comprehensive health insurance prevents the price mechanism from working.

Are you incapable of seeing the economic underpinnings of her argument, UK?

BTW, this is the best refutation of the idea of universal health insurance I have ever seen.

"Unless huge amounts of Greece debts are fogiven"

And that is exactly what will happen.

They'll never realize that. When the economy is in ruins,they'll blame everyone and everything but themselves.

Do people in the UK have any critical thinking skills at all? Her argument does not depend on her religious beliefs, it stands on its own. She articulates religious ideas only when talking about clergy, and their view on health care. Those arguments are directed at clergy. But the argument is also couched in economic terms.
1. You cannot provide an unlimited amount of an item free of charge to people.
2. The item in question is the labor of other people.
3. Forcing other people to provide their labor in unlimited amounts (at a price set by government) reduces those workers (doctors) to slavery.
4. Comprehensive health insurance prevents the price mechanism from working.

Are you incapable of seeing the economic underpinnings of her argument, UK?

BTW, this is the best refutation of the idea of universal health insurance I have ever seen.

We have grown too big - our last chance to sustain the growth and prosperity came and went with our failure to get off this rock and start colonising space during the 60s/70s.

Won't be long now. Did my weekly grocery shopping yesterday and prices have risen since last week.

Dang, I bet Ann is crazy in bed :)