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Old 01-23-2006, 06:02 PM  
Webby
Too lazy to set a custom title
 
Join Date: Oct 2002
Location: Far far away - as possible
Posts: 14,956
Quote:
Originally Posted by Luc
everything is fine guys. you have nothing to worry about.

http://money.cnn.com/2006/01/23/news...ings/index.htm
Not just because of your link... but the word "implosion" comes to mind.

There are massive shifts in "weath" in this world and destined to escalate far more than we have seen so far.

That becomes a problem for "consuming societies" like the US. It's just not sustainable to utilize 25% of the worlds resources and have less than 5% of the worlds population.

That just gets worse when that society can't actually write a check for payment and has only two items/products that show a net surplus on trade balances (arms and wheat).

It's worth glancing thru a report compiled by the US Treasury and released in spring 2002. This was the most extensive summary of the US economy ever
and took 10 years to compile. The simplifed bottom line was.... 94% of all homes within the US were "debt" (hell knows what it may be now). There was a recommendation to immediately raise taxation (wait for it!) to 60% for the
forseeable future. The report was presented to the President who immediately
stuffed it to the bottom of the out tray cos he did not want to hear this and
had other plans to spend more money in Iraq and, anyways, he don't do economics. It's worth a read and damned interesting!
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