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Sun Dec 2, 2012, 07:41 PM

Economic Collapse in 2013?

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Arrow 4 replies Author Time Post
Reply Economic Collapse in 2013? (Original post)
rdubwiley Dec 2012 OP
Warpy Dec 2012 #1
RickFromMN Dec 2012 #2
radiclib Dec 2012 #3
MrNice100 Dec 2012 #4

Response to rdubwiley (Original post)

Sun Dec 2, 2012, 08:12 PM

1. The fiscal cliff is more of a fiscal curb

Republicans are panicking because they know taxes on the richest will go up a whopping 3%. The tax increase on already strapped marginal workers will be more painful and that will affect an economy already on the ropes because the demand side has been choked off, but since the actual dollar amount paid by marginal workers won't change that much, it's not going to bring the economy completely to its knees.

The only good thing about going over the "cliff" is seeing the Pentagon get hit with meaningful cuts. The Pentagon is the one government agency that is in most desperate need of cuts, steep ones. We the people can't afford that five sided monkey on our backs. We need to get their spending under control and in line with what the rest of the world spends.

The spending on widows, orphans and the elderly is not and has never been the problem in this country. That five sided black hole in Arlington is and has been the problem.

Going over the cliff might be the only way we start making cuts where they are needed, cuts to a monstrosity of a military that is eating this country alive.

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Response to rdubwiley (Original post)

Sun Dec 2, 2012, 11:02 PM

2. I agree with this person. We will go over the fiscal cliff. Raising the debt limit is next.


The debt limit is the real battle. It will be far worse than the fiscal cliff.

We can't buckle under to Republican blackmail a second time.

The only way to put an end to Republican blackmail is to accept there will be no agreement on the debt limit and prepare a list of government programs we can freeze/sequester by executive order.

Let's hope President Obama has learned giving in to blackmail can be worse than the consequences of not giving in.

One can't deal with blackmailers. They will only demand more. Soon there will be nothing left.

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Response to rdubwiley (Original post)

Mon Dec 3, 2012, 07:29 AM

3. Hmm..I wonder

Did the Jefferson Airplane get paid for the use of their album cover?

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Response to rdubwiley (Original post)

Mon Dec 3, 2012, 11:18 AM

4. The economic collapse will occur when US debt passes approximately 120-130% of GDP

Once it happens The interest rates will rise sharply and then US have to choose between default and total collapse or massive money printing followed by extreme hyper inflation.

This should happen somewhere between 2015-2017.



Why fear going over the fiscal "cliff", when it's the solution, not the problem. The choice is between actions that make things a bit better now, and terrible down the line, or ones that make things a bit worse now, and great later.

Restore Clinton-era tax rates and large cuts in the military-industrial complex, that's not a cliff, thats a solution.

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