Unprecedented global risk no one cares

[MindWars]

UNPRECEDENTED GLOBAL RISK – NO ONE CARES
US EMPIRE IS CRUMBLING
So what has the dollar got going for it? The US is the biggest financial empire in the world and the greenback was desired by most people around the globe for many decades. Like all empires, the US world dominance is now crumbling and so is the dollar. The dollar strength was based on the US being the mightiest industrial nation in the world with low debts and a balance of payment surplus. But that gradually changed, starting already in the early 1960s when the US couldn’t afford to make ends meet. Since then the US debt has gone up every single year for 56 years. Also, the US has had a trade deficit every year for the last 45 years. As the dollar came under attack in the early 1970s, Nixon took the fatal decision to back the dollar by nothing. When gold on August 15th was removed from backing the dollar and the world’s currency system, few realised the disastrous effects this decision has had for the world. Global debt has since grown exponentially and most currencies have fallen by 70-80% in real terms.
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In the eyes of sheep the US can never go under , reality " WRONG" , this collapse will be global this is what people don't seem to get. But oh well plow along.

As Obama and Clinton were working on getting rid of the middle class right under the sheeps noses they still try to support the same bs.

 

[The Irish Ram]

You don't recover from trillions of dollars in debt. You just pretend you are ok until the bottom falls out.

 

[dfens]

I am fully aware of all of this, but answer this: why does the system keep going?

It should have collapsed by now. Therefore, we have to rethink our assumptions. For the time being, America has a perpetual motion machine of dollar creation without consequences.

The consequences don't seem to arise, and then they do, we'll all be dead anyway.

 

[Jomama]

The consequences don't seem to arise, and then they do, we'll all be dead anyway.

Nah, because the end of the world is too painful. Look at Greece, they are forever caught between their gluttonous ways and reality. Same with the US we're just a lot longer to get there because of the U$D, etc. It will be ugly, emergency (non-democratic) measures will be taken to shore up the system, vultures will make a fortune in the chaos and everything will be miserably okay again - until it falls apart later. Repeat.

 

[EdwardBaiamonte]

For the time being, America has a perpetual motion machine of dollar creation without consequences.

The consequences don't seem to arise, and then they do, we'll all be dead anyway.

very very true! A little inflation does very little damage while engineers going to work every day to invent new stuff to increase our standard of living does tremendous good.