The Future of the American Economy (2 Viewers)

moll.

Learn to science.
Joined
Aug 19, 2008
Messages
3,545
Gender
Male
HSC
2008
Is anyone else shitting themselves about the future of the American economy?
Their current economic growth is based almost purely upon short-term consumption, house prices continue their stagnant or negative growth and there is a growing divide between the rich and poor, such that many regions of central America resemble slumtowns whilst the urban coastal centres continue to thrive and expand. In fact, according to Citigroup, the top 1% of wealthy Americans control more money than the bottom 95% combined.
The education system is shot to shit, with high-school dropouts increasing (up to 1.3 million a year) and tertiary educational institutes mass producing useless degress whilst leaving the recipients with a mountain of high-interest debt before they even start work. This at the same time when their entire human-capital needs an overhaul as the manufacturing industry rapidly declines and the former manufacturers need to retrain for the services industry.
Meanwhile, the federal deficit is spiralling out of control (expected to rise from 60% of GDP today to 82% by 2019) and to all appearances there exists neither the political will nor the social inclination to make the tough decision and tackle it head on. In fact, the right-wing and populist solution to this problem appears to be the exact same one which got us here; lower taxes and lower spending, when recent history has shown that doing one without the other exacerbates the problem and that the latter is incredibly difficult, practically and politically.
Alongside this exists the three and a half billion dollar lobby industry (not including campaign contributions) which ensures that it doesn't matter whether it's a Democrat or Rebuplican in office, there will still be men with vested interests whispering in the President's ear. As an example, the current Assistant Secretary (Financial Stability), Herbert Allison, is also the former CEO and President of Fannie Mae and former President and board member of Merrill Lynch.

We are fucked.
 

murphyad

Member
Joined
Aug 24, 2008
Messages
416
Location
Newy, brah!
Gender
Male
HSC
2009
I agree with moll on this one.

Worst of all, not only is the economy fucked, but also the political system as well, and not just in terms of lobbyists. The ability for the senate to cripple legislation via the filibuster is holding up the entire political process as Republicans attempt to negate an overwhelming Democratic majority by voting as a single bloc (VERY uncommon in the US, even if it is standard practise here). This has been said to have held up 80% of all legislation going through Congress last year. Whether or not the legislation would actually have been beneficial is a moot point next to the apparency that US politics has come to a grinding standstill.

Yes, we are fucked.
 

Bereie

Member
Joined
Jan 6, 2010
Messages
237
Gender
Female
HSC
2009
BBJ are you trying to derail this thread, taking people's concentration away from America's economic problems so you and your bearded friends can bring the US down with no one noticing?
 

wrxsti

Rambo
Joined
Jul 20, 2006
Messages
1,653
Location
Nandos
Gender
Male
HSC
2007
BBJ are you trying to derail this thread, taking people's concentration away from America's economic problems so you and your bearded friends can bring the US down with no one noticing?
Bereie, open your mouth! I need to piss.
 

darkwaters

Member
Joined
Dec 7, 2006
Messages
72
Gender
Male
HSC
2005
BBJ are you trying to derail this thread, taking people's concentration away from America's economic problems so you and your bearded friends can bring the US down with no one noticing?
Do you have a small penis?
 

scuba_steve2121

On The Road To Serfdom
Joined
Dec 2, 2009
Messages
1,343
Gender
Male
HSC
N/A
not to worry, surly the American economy will just collapse and it will reallocate its capital and labour. OH WAIT we just had that and its still fucked. wait why is that. oh that is right because both sides in the American government and federal reserve are idiots.
 
Last edited:

wrxsti

Rambo
Joined
Jul 20, 2006
Messages
1,653
Location
Nandos
Gender
Male
HSC
2007
mate honestly wtf is your problem. why are you talking about cocks, penis's and mouths. srsly, do you want me to shit in your mouth?
I have a strong affection for the human body, if you have a problem with thats, lets have a cyber war.
 

omnipotent

Member
Joined
Jun 16, 2008
Messages
152
Gender
Male
HSC
2010
mate listen, im not in cyber war shit...im into the real deal....cunt listen, I met this guy from bos and he was a 6 foot 6 iraqi and im a white anglo australian 5 foot 8 and i took him on and smashed him. You are nothing for me
Someone please ban this fail troll

Any who, if America does collapse (as all empires have), then it will have some short term negative impacts on everyone. However with the USA gone it might mean that organisations such as the WTO and the World bank can finally start to progress, without having the US reject every proposed change. China will quickly and easily take over as the world's largest economy.
Long term consequences of the US economy failing seems pretty good.
 

murphyad

Member
Joined
Aug 24, 2008
Messages
416
Location
Newy, brah!
Gender
Male
HSC
2009
Yeah except for China's disgusting "we're big and powerful and we're gonna boss you around" attitude.

See:
*(Almost) single-handedly buggering up the Copenhagen conference
*Stern Hu
*Google et al.
* + more that I can't be bothered to think of right now
 

Slidey

But pieces of what?
Joined
Jun 12, 2004
Messages
6,600
Gender
Male
HSC
2005
China becoming more powerful is just all around bad for everyone.
 

moll.

Learn to science.
Joined
Aug 19, 2008
Messages
3,545
Gender
Male
HSC
2008
I'd like to point out that China is equally screwed in this case.
In terms of the US gov't defaulting on loans or US consumerism drying up?
Maybe they would be were it to happen soon or suddenly, but thankfully the GFC has taught the Chinese that they're far too closely linked to the doomed Americans, and unlike their trans-Pacific counterparts, they're actually taking what they learnt in the crisis and using it. I think Beijing is shitting itself because they've realised that America got the flu and nearly contaminated them last year. That's why you hear all this news out of China about the government encouraging the Han to consume like the Americans do. Substitute market in the eventual outcome that the US collapses.
 

moll.

Learn to science.
Joined
Aug 19, 2008
Messages
3,545
Gender
Male
HSC
2008
Someone please ban this fail troll

Any who, if America does collapse (as all empires have), then it will have some short term negative impacts on everyone. However with the USA gone it might mean that organisations such as the WTO and the World bank can finally start to progress, without having the US reject every proposed change. China will quickly and easily take over as the world's largest economy.
Long term consequences of the US economy failing seems pretty good.
Economically, maybe. Politically and ideologically, the long-term consequences of the US collapse look terrifying.
 

wrxsti

Rambo
Joined
Jul 20, 2006
Messages
1,653
Location
Nandos
Gender
Male
HSC
2007
mate listen, im not in cyber war shit...im into the real deal....cunt listen, I met this guy from bos and he was a 6 foot 6 iraqi and im a white anglo australian 5 foot 8 and i took him on and smashed him. You are nothing for me
Buddy, I bash midgets and jews for fun. Do you really think you want to deal with someone of my problems.
 

-Lemon-

Member
Joined
Mar 3, 2010
Messages
84
Gender
Undisclosed
HSC
N/A
In terms of the US gov't defaulting on loans or US consumerism drying up?
Maybe they would be were it to happen soon or suddenly, but thankfully the GFC has taught the Chinese that they're far too closely linked to the doomed Americans, and unlike their trans-Pacific counterparts, they're actually taking what they learnt in the crisis and using it. I think Beijing is shitting itself because they've realised that America got the flu and nearly contaminated them last year. That's why you hear all this news out of China about the government encouraging the Han to consume like the Americans do. Substitute market in the eventual outcome that the US collapses.
what is this babble?
'America' has the 'flu', 'America' has 'contaminated' them, what on earth are you trying to articulate?
Is this the kind of stuff they teach at UNSW?
A big part of the problem is that the Chinese are not allowing the RMB to appreciate relative to the US dollar, the massive capital outflows are self-inflicted

Also, (not so much from the above post) this warped idea that economies 'compete' with each other is utter nonsense
 

moll.

Learn to science.
Joined
Aug 19, 2008
Messages
3,545
Gender
Male
HSC
2008
There are factories purely designed for fucking? Awesome!
 

Users Who Are Viewing This Thread (Users: 0, Guests: 2)

Top