Anyone want to make a bet on when US goes bankrupt? (Fearless Blue)

1 trillion a year defecit... total debt = to 100% of GDP soon. The interest on the debt alone is like 300B dollars. If the economy actually stops or reverses a bit that would mean even more difficulty to borrow/repay debt. I am wondering when the game master will finally come in and say - welp buddy yer bankrupt you cant repay that debt.

I am betting that if Obama wins it will be around the 3rd year of his presidency... so around 2011-2012.

I'm sure China is more than willing to keep giving America money. Communism failed, so now they give the US the money to buy their products!

lol.

I would say in about 7 weeks, for it will be around that time the US will ask China for some more money to try and kick start the cheap lending(even though thats what got every one into trouble in the first place), because all the last injection has done is enabled the banks to have enough money in their safes to pay the savers back if they all decided to withdraw. But China will say NO and then ask the US to start paying the previous loans back.
We just have to keep in mind that life is life and it's a hell of a lot better than being dead.

Faith leads to hope. Hope leads to happiness. Happiness leads to joy. Joy leads to Freedom.

Peace&Hardcore...............Nix001
MNA

The sooner my debt disappears with the bank it is owed to the better!

Level 1 : Great Depression
Level 2 : George takes presidency! (Omgzor we die)
Level 3 : Great Depression evolving! - - - - - -
The Extreme Great Depression.
--------------------------------------------
Well i'm pretty young at hand and know less about the finance & cash. If United States is going bankruptcy then can't they make more money? I mean,
Who made money? Moneys will probrally extinct in fire, but i don't know who's the creator as such and such but i'm always curious if they were the creators of the current money, why can't they make more... I really don't understand. I guess i'm not human if i'm thinking about this, but it doesn't hurt to be curious

Never mind, Inflation will take result and causing the value of the money to go down. Which also means ECONOMY BREAK DOWN.

Friday.

I think a drastic decrease in military spending, and tax increases will be the only thing to save the US from bankruptcy during a transition from consumer based economy to something else. But the US is so anti taxes and so pro military it would be an impossible thing to sell to the public. Extreme consumerism was good while it lasted, but commodities aren't so cheap anymore, and wars weren't really cheap to begin with. If America works hard to achieve much more self reliance (to reduce massive trade deficits) while seeking to gain technological advantages and being fiscally responsible (don't vote republican for a while) then maybe it can return to its former glory. If the US keeps the status quo I can see America fade from power (and it makes me nervous to think what a falling superpower with enough nukes to destroy the planet several times over would do if it got very desperate).

Please see: Communist Soviet Russia circa 1980's.

ild say they are now unless they do somthing that people would do im SC go raiding for money and supllies it is posable just unlikely america should blame ammerica but they should being arrogant is so much fun but they did indeed shoot them selves in the foot and die from it

The US has a distinct advantage in that most countries' international debt is in US dollars, so the US is the only one capable of printing off money to pay off its debt. Interestingly enough, this would probably have the side effect of paying off everyone else's debt at the same time due to the collapse of the dollar at the same time, but the point is the US is the only nation in the world that cannot go bankrupt

" (and it makes me nervous to think what a falling superpower with enough nukes to destroy the planet several times over would do if it got very desperate). "

Probably nothing. The size (both in population and land/resources) of the US, coupled with its nuclear and military arsenal, guarantee it to be a major player on the international scale for a large time.

The Soviet Union didn't take the world down with it. Why should the US?

I believe that the US has found the joys of socialism and they will soon reap all of the benefits of the Helleniki Demokratia *he says sarcastically*. Our debt to GDP is about 90%. We complete with Italy for the worst debt to income ratio in the EU.

Portugal has scared us a couple times and looked like it might like to compete with us for outrageous debt ratios, but they some how can't manage to mismanage public funds like the ancient empires.

Even with a couple years of $1T+ deficits, the US will only be on par with most of Europe with a ratio in the mid 40's.

Hate to tell you America haters out their, but the US is still in better financial condition than most of the world.

I believe the U.S. should legalise Marijuana. in the state of California, the medical Marijuana business brought in 13Billion Dollars. If it had been taxed the state would have made 1Billion in tax revenue. Now lets fully legalize and manufacture it. I'm thinking $100B a year profits. Something to drastically reduce those trade deficits.

The US would figure out a way to increase expenses to counteract the revenues from marijuana but other then that I do agree

Apparently, the US debt ratio is already about 80% of GDP.

UK's is in the late 40's I believe and I think there's an allowance to 54% but we could comfortably rise to 60% in respect to most of the rest of the developed world.

See this story fot the 80% US debt

Im not realy that in to economic system of america but isnt alot of does loans to the private bank "natinal tresury" or someting. They print the money and gives it like a loan to the goverment.

but they also get money from dept papers that they "sell" to any one on the open market

so cant be parts of does dept just be printed money?

@David,

I saw that article when it came out. It is not really comparing the same figures for the 2 countries. It is comparing all public (Federal, state, and municipal) of the US to GB's national government debt.

Lol's at this subject. Continued mismanagement= fail, epic fail, Thee epic fail. My prediction bancrupcy 6-12 years.(no reasoning behind said timeframe, but trust me if something doesn't change drasticly, it is going bancrupt)

From My Shrine in the Northwoods,

Yooper

I know this is a year-old conversation, but listen up! I'd like to update this thing with some idea in mind.

Look at history. If there was one civlization that influenced the creation of America, it's Rome. Apparently though, it seems that our fall is likely to be the same as theirs. We have a republic - they did also. But the thing is, when crises struck, the Romans saw an era of corruption, debt, and suspicion - the very scenario which is ripe for Empires to rise. America is going thorugh this stage of civilization; the country's democracy will not last any longer if these debts, political parties, wars, corruption (e.g. bribery from oil companies), and disunion are completely suppressed from existence, but this however is IMPOSSIBLE. The very republic we created by and for the people is giving way to new, dark Empire.

Brace yourselves. It will be tough ride from then on. And then, our civilization will dissipate al

We are already bankrupt. We have been for a very long time. We sold bonds to fight WWII I'm sure we were bankrupt long before then. Not sure how anyone assumed we aren't bankrupt now. The printed and borrowed money is all that remains, if that isn't bankrupt I don't know what is. It is like a person 10s of thousands of dollars deep in CC debt, yet continues borrowing against his/her credit rating. In truth this person is bankrupt, but technically not considered bankrupt until they make an offical bankruptcy filing. So Filed or not, technically or not, the US and that person is bankrupt. That fact will always remain. The downward spiral has already taken its course and the disease that is the Federal Reserve and the fractional reserve Banking system is the death of the entire world's true wealth. The world is broke, forget the United States, everyone is borrowing and will continue to do so until we see some major changes in the way we liv

*CONSPIRACY*

**CONSPIRACY!!!**

If you are gonna do it, do right.

**CONSPIRACY!!!**

Hey Blue and LAGUNA!!!

LOOOL!!!

Can you imagine if my name was Lagoon... I would be the guy and Blue the girl. ;0

o.0

hehe, been a loong time since I thought of that movie. thx for the memory and the visual Lagoon(a)!