US Debt Crisis - 2012 is only for America

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Comments

32 comments posted so far. Expand all comments Login to add a comment.

Picture of Sakzzz24 achievements

+48

1. Sakzzz 2 years ago

World War 3 is actually an economic crisis . :S

Picture of MakeTnotWar37 achievements

+2

2. MakeTnotWar 2 years ago

Maybe the Maya where right and the world is coming to an end in 2012.

Picture of ZaMpTi47 achievements

+18

3. ZaMpTi 2 years ago

not only a us problem. i live in europe and get paid mostly in US$ and the strong Euro let me earn less and less. Only because of our stupid government. For example on the 01.11 1000 USD where 729 Euro, one day later, when my payment arrived 1000 USD where only 714 Euro ... Just sayin :(

Picture of sgtstone534 achievements

+20

4. sgtstone5 2 years ago

#1 bring ALL of our troops home #2 cut off All forien aid #3 go to a flat tax of 20% #4 get rid of the IRS

Picture of Oddi50 achievements

+7

5. Oddi 2 years ago

Just start buying gold and land like there's no tommorow! >:)

Picture of banzemanga42 achievements

+11

6. banzemanga 2 years ago

Awesome video. Learn what is going on the economy and the national debt in five minutes without having to through an entire semester of class.

Picture of davor138720 achievements

+2

7. davor1387 2 years ago

Unfortunatly this economic future is inevitable.

Picture of Sebastien45 achievements

+3

8. Sebastien 2 years ago

#6 Great! Now if only Snotr was accredited you could go on and run Wall Street! :D

Picture of Thanny35 achievements

-8

9. Comment rated too low. Show this comment Thanny 2 years ago

This video shows a stunning lack of knowledge about macroeconomics. Inflation in the US is ridiculously low, just like the interest rate on 10-year bonds. There's no risk of runaway inflation or stagflation, and there's no shortage whatsoever of entities willing to buy US bonds.

The correct path out of the slump we're in involves massive federal borrowing (with the current interest rate, it's nearly free, and is actually more than free with inflation-protected bonds), used for temporary spending projects that directly put people to work - infrastructure like roads, bridges, power grids, etc.

The deficit is not a problem right now. 9+% unemployment is the problem.

Picture of fixento231 achievements

+1

10. fixento2 2 years ago

You would be better off buying a gun, if the melt down does occur, those who are armed will take from those who aren't. It may become a repeat of the French revolution, a harsh redistribution of wealth and power.

Picture of Burimi41 achievements

+2

11. Burimi 2 years ago

I read that if the U.S. debt were stacked in $100 bills, it would be as long as two football fields and as high as the statue of liberty!!!!

Picture of banzemanga42 achievements

+4

12. banzemanga 2 years ago

#9 No matter how low the interest is or even if the money comes with no interest at all, it is still a massive debt to pay. And even the video explains how borrowing money becomes part of the reason why there is 9%+ unemployment. So it is impossible to say that it is unrelated.

Picture of thorargent18 achievements

+3

13. thorargent 2 years ago

We used to provide food for the world, but farm subsidies and paying people not to grow just to control food prices and other factors made it unprofitable. We used to create wealth by turning raw goods into finished goods. We shipped those jobs off to other countries. We used to have massive technical growth, but lawsuits, patent battles, and a failing educational system made that unfeasible. Big business and banking seem to have corrupted and destroyed so much. They have the best politicians that money can buy.

Picture of irishgek50 achievements

+7

14. irishgek 2 years ago

Who HAS all the money is my question ? These days they talk about crazy money but in all honesty "show me the money".

Ever country just needs to get on one big ass table and start Earth 2.0 , no debts everything wiped clean and a new slate and a clean cheque book !

Picture of defade30 achievements

-3

15. defade 2 years ago

If you think you've learned anything from this video.... think again.

Picture of GJJACKSON196822 achievements

+4

16. GJJACKSON1968 2 years ago

Watch Zeitgeist.

Picture of spla30032 achievements

+1

17. spla300 2 years ago

the prediction is that the recession will end on the 21/12/2012 :D

Picture of sux2bu59 achievements

0

18. sux2bu 2 years ago

#16 Yea the favorite movie of the brain-dead.

#4 Hell yea!

Picture of nomaddaf18 achievements

+5

19. nomaddaf 2 years ago

The flawed premise here is that cutting spending will brig doom. It will cause hardship in the short term but a fix if continued.#9 is very wrong. This will only delay and ultimately greatly worsen the inevitable.Inflation is low because the ponzi scheme has not ended yet. We are in the stage where we are still bringing in investors. But bonds are going to be unsellable very soon. There never is a shortage or bond buyers until there is a shortage of bond buyers!If your house is on fire in every room except the one you are in so that you don't realize it,it is no less on fire.Carter printed a small fraction of what we have now and it worked in the short term but resulted in 21% interest rates. There hit that is headed our we now thanks to this sturpid train of thought will make that look like we hit the lottery.We are F'ed!

Picture of Taineract35 achievements

+6

20. Taineract 2 years ago

#19 hit the nail on the head. You don't outspend debt. Not even on the macro level.

Picture of nomaddaf18 achievements

+3

21. nomaddaf 2 years ago

Yes I left out that those government projects produce no goods or services. A failing economy has no need of new roads,more power and bridges. The only money they put into the economy is additional dept. Unless those workers pay more than 100% tax ,no money has been added, but debt with interest has most definitely been added.

Picture of krillemaster43 achievements

+3

22. krillemaster 2 years ago

USA need to man the fuck up and stop being a sissy.

Picture of oldcurt619 achievements

-1

23. oldcurt6 2 years ago

I agree with #4 but he should have added secure the boarders both of them

Picture of Calvinius46 achievements

+3

25. Calvinius 2 years ago

Don't look now, but it's almost 15 trillion:

http://www.usdebtclock.org/

You can calmly say, we're f*#$%§ :x

Picture of Sizzlik59 achievements

+1

26. Sizzlik (admin) 2 years ago

What im kinda curious about is..where does all the money go? Money is not like fuel that gets burned and is gone. When you spend money, it still exists somewhere. Almost the complete world is in debt..like the money of the world is POOF..gone. Funny thought :)

(Yes..that was a joke question, i know about federal reserve bank etc...but thats what a kid would ask and it makes you think how to answer that)

Picture of cretia27 achievements

+2

27. cretia 2 years ago

#5 when things go up creek without a paddle run to the hills with your supplies ,the most valuable thing during war is food and water not gold .
i remember my grand dad telling me about the starving soldiers knocking on doors asking for food granddad was lucky he had supplies so was the soldier.

Picture of nomaddaf18 achievements

+2

28. nomaddaf 2 years ago

This will put it into perspective.If you borrow $1,000,000 (million) and pay it back at $1 per second with no interest it will take you 11.2 days to pay off the principle. If you borrow $1,000,000,000,000 (trillion) and pay it off at $1 dollar per second with no interest it will take you 32,000 years. That is 1 trillion and we owe 15 trillion. Not only are we not paying it back at $1 per second we are borrowing at $52,000,000 per second, and believe me there IS interest!!!We have reached the point where not tax is high enough and no leader can stop it.The democrats doubled a 230 years debt in 18 months.So if you helped put these socialists in office better start apologizing to your kids and grand kids now. If you didn't then give them the address of people who did, so they can thank them properly.In answer #26 explain it like this. Money represents achievement just like school grades. Some kids get A,s with ease,some work hard to get A,s or only B's or C,s and others can only get D's or F's. All men are in fact not equal is this way. Then comes a socialist teacher that say's you are all equal and gives the A and B students points to the C D and F students.Now they all get C's even though we all know it to be untrue.Soon the A and B students will stop trying and all and up D students at best. Even a child can see that is how it will end up.It's not that there are less points, but the points that are there mean nothing so why try to get more. The difference between East and West Germany show this perfectly. The same wonderful people but look at what lack of motivation did to the East. Saddest thing to watch but the outcome was inevitable.

Picture of manxman29 achievements

-1

29. manxman 2 years ago

this vid ends with 'we should all prepare' how? what do we do? i dont live in the states, i live in the uk, will we be ok or what? i'm frightened.
i've seen mad max and post disaster movies and the people who can 'do' or have skills seem to do ok, i'm and mechanic, i think i may do ok.

Picture of GJJACKSON196822 achievements

-2

30. GJJACKSON1968 2 years ago

#18 Ah, so you've seen it?

Picture of drevil29 achievements

0

31. drevil 2 years ago

very good video!

ofcourse reality is way more complex,
put the vid covers the most importent stuff.

keeping your eyes closed won't help much longer.

Picture of sux2bu59 achievements

+1

32. sux2bu 2 years ago

#30 Yes and it is not one of my favorites seeing as how I am not a brain dead conspiracy loony.