America...The new stiff?

[Ninersnut]

Interesting article popped up on CNN today. With all the debt we got eventually we are going to have to stiff the world.

http://money.cnn.com/2011/01/21/news/economy/spending_taxes_debt/index.htm

Will we see WWIII in our lifetime? Answer: Yes.

[2TrivBicc]

I agree...When the U.S. dollar loses its spot as the world's "reserve currency" it will cause a brutal downturn in the economy...

http://www.articlesbase.com/wealth-b...e-3994069.html

[FourLengthsClear]

The US defaulting on any significant part of its debt would mean the end of Capitalism as we know it.
It really is that serious and for that reason, it won't happen. The dollar will be devalued (mind you so will the EUR and GBP) relative to Asian currencies but that is all, I think.

[Ninersnut]

America won't stand to be China's slave forever. They will figure out they need to make a move. Bank on it.


Wonder if they got odds during war?

[thadchr]

Wonder if they got odds during war?

(And I'm thinking yes. )

[wrongturn]

Inflation is the only way out of it.

[2TrivBicc]

The normalcy bias refers to a mental state people enter when facing a disaster. It causes people to underestimate both the possibility of a disaster occurring and its possible effects. This often results in situations where people fail to adequately prepare for a disaster, and on a larger scale, the failure of the government to include the populace in its disaster preparations. The assumption that is made in the case of the normalcy bias is that since a disaster never has occurred that it never will occur. It also results in the inability of people to cope with a disaster once it occurs. People with a normalcy bias have difficulties reacting to something they have not experienced before. People also tend to interpret warnings in the most optimistic way possible, seizing on any ambiguities to infer a less serious situation.

[aceking]

when you have nukes , you don't have to pay .

[Ninersnut]

when you have nukes , you don't have to pay .

Imagine the complete chaos of a nuke war. The whole east coast/west coast driving to the middle of the U.S. to hide in cornfields from radiation.

[Dutch]

Who would be on what side during WW3?

China and the rest of Asia wants us to keep buying their products, without the U.S. as consumers their economies would crumble. The odds of China falling back down because of civil rights and other internal issues is much greater than any kind of world war.

No reason for Western Euro countries to go to war with the U.S.. Same with Eastern Euro countries, not that anyone cares what they think.

Middle East countries are too busy worrying about which one of 'em has the biggest dick.

Latin/South America....no.

Lack of oil might cause some countries to get trigger happy, but not so trigger happy as to cause world war, not in my life time anyway.

[2TrivBicc]

Wiki example of normalcy bias...(New Orleans before Hurricane Katrina. Inadequate government preparation and the denial that the levees could fail were an example of the normalcy bias, as was the thousands of people who refused to evacuate.) Also add the Jews who thought Hitlers bark was louder than his bite and decided to stay in Germany.