It will blow over? According to spooky dude, George Soros, the best case scenerio is a Great Depression like scenerio. The worst scenerio is a complete melt down of the world economic system.
The cop out figure includes the estimated debt the US admits to. If you wish to add the 16 trillion in European loan guarantees, fair enough. Am I saying the economies of the world will ignore the actual looming crisis until the threat goes away? Yup.
then listen to Soros at your own risk......just because someone is loaded doesn't mean he is smart. Case in point.....Warren Buffet buying into Bank of America!
I think you should re-write and then get the hell out of here . Better that you begin to understand how the "other " economies are behaving and that you can spell "Kop" rather than " cop" .The BRIIC countries are stalling . If you had any inkling of how much toxic debt the US banks hold , which has not been declared -- they refuse point blank to give figures -- you would grudgingly concede that a minimum of $10 trillion poses difficulties !!!!!!!!!! Dead country walking .
I think you underestimate what a US economic collapse will do to your economies, tis thee who art naive. Understandable, living abroad one thinks his homeland to more of a moral barrier to the US system. Unfortunately for you, much of the so called "liquidity" your banks possess is nothing more than useless pieces of paper the US sold them in the "good" times. Greed has no borders, nor does self preservation. If the world was going to collapse, it would have already happened. Copy this thread for later reading-say in 3 years-and then you can see me for the prophet I am.
I have knocked out the last line of your Post -- you were obviously blind drunk when you thought of it . I should not have been so hard on you in my previous Post as I had forgotten that you were from California -- how is that scheme for advertising alongside car number plates progressing --- rofl .? The world will " collapse" when it becomes universally understood that people producing imaginary money promises for real goods and services are scammers . It will " collapse" when people look at each other and say , " Up Yours. You cannot pay me back one cent of what you owe me , let alone what you now want "on tick " " It will come to the States next year , our best estimate .
Feel free to don your robe and wave your "doom" sign on the streets. Might want to pack a lunch, your timeline is off a century or so. And your banks have already taken the worthless paper, in for a penny-in for a pound. I am sorry California's economy is so much larger than yours, it must gall your that one state in our union eclipses your entire island. Still, we will recover and take more of your immigrants you can't put to work, GB puts out great engineers.
Oops! My mistake, you are the 6th largest economy, CA is the 8th. Again my apologies, looking at videos on the BBC the entire nation looks like the third world. Still, I am glad for your progress. I am sure everyone will want to move there.
Much of California is straight out of interior Mexico with all of the poverty, ignorance and desperation.
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I think you are Off Topic , Bertie , and should return to the looming dollar crisis out of respect to the OP . rofl
We did indeed steal CA and most of the southwest from Mexico, and no, I don't want to give it back but I wouldn't trade the food for any nationality or ethnic variety. California is what it is, a paradise with issues. Good thing is it is a cash cow and it will recover eventually, it always does. The same with the US.
The California State Controller said today that the State will run out of cash in less than 45 days. Some cash cow. Some folks are living in the past. [ame="http://www.youtube.com/watch?v=EsCyC1dZiN8"]Jethro Tull - Living In The Past 1969 - YouTube[/ame]
I would love to see some of these splendid Mexican guys buy up bankrupt California and scrub it up . There certainly is a lot of riff raff there at the minute and some strong Cartel intervention could put them back on the straight and narrow . Couldn't some of your contacts prove useful , Bertie ?
Too young to remember the 80's, went boom to bust twice in 10 years, much pulling of hair and gnashing of teeth. Plenty like you predicting the demise of CA. It will just come back a little changed, we have been short of money for about 5 years now, just waiting for the banks to de-leverage.
