"Worst Is Yet to Come": Americans' Standard of Living Permanently Changed

[Necromancer]

http://finance.yahoo.com/tech-ticker...SPC,%5EDJI,RTH

Well, both the article and video clip give a pretty in depth overview of where we just may be going within the next few years. Let's prepare for the worst... but hope for the best.

[Rebel Jeb]

What? Were you expecting something good to happen during Obama's reign?

...Really not surprising.

[Necromancer]

No, not really... I hope he does good, I really do. But I know he won't. The same opportunity to turn the economy around that existed during The Great Depression is still here. But unlike FDR, I find it highly doubtful that Obama will seize it. Even though I am an Obama critic, I know it wouldn't be entirely his fault if it wasn't seized. If all the Republicans and Democrats in Congress and within the Senate would put aside their differences for once, maybe they would actually get something done. But they'll keep voting against each other's bills and plans, not based on any plan's contents, but solely because of political affiliation.

What's really frightening me about Obama, is that he hasn't even DISCUSSED foreign policy, let alone laid-out a plan.

[Mikelus Trento]

What's really frightening me about Obama, is that he hasn't even DISCUSSED foreign policy

I guess he was just discussing hoops with the Arabic TV interviewer?

[Necromancer]

I guess he was just discussing hoops with the Arabic TV interviewer?

guess I missed that.

[Mikelus Trento]

guess I missed that.

Did you perhaps then see the recent evening press conference where he answered a number of questions concerning foreign policy?

[Ahlerich]

http://finance.yahoo.com/tech-ticker...SPC,%5EDJI,RTH

Well, both the article and video clip give a pretty in depth overview

in debt overview

[The Devil's Sergeant]

Tis all good!

[Caelius]

Fearmongering at its best.

[Da Skinna]

It all started in the '70s, you Americans just kept putting it off. You couldn't live within means then so you forced a bubble that had to eventually pop.

Take that.

[Mikelus Trento]

It all started in the '70s, you Americans just kept putting it off. You couldn't live within means then so you forced a bubble that had to eventually pop.

Take that.

You are right, but I don't think enough people yet have come to the conclusion that a return to "the bubble" is impossible, too many still feel "entitled" to live in the bubble.

[Erik]

It all started in the '70s, you Americans just kept putting it off. You couldn't live within means then so you forced a bubble that had to eventually pop.

Take that.

Exactly.

Several years before the banking crisis many experts already agreed the US economy was doomed. (and I agreed with them)

When you live off borrowed money you boost your economy and you will have it good.
But once your credit has ran out and payback time starts, you will hurt your economy even more than you boosted it before, and you will suffer greatly.

For the next 10 to 30 years Americans will have to pay for the "free rides" they have been enjoying since the 70's.
Because contrary to what overly optimistic American "economists" have been saying: you can't get something for nothing.

Welcome to the real world, America.
Just don't say we haven't warned you.

[Sphere]

Public Debt in %GDP

Netherlands 57.3%
USA 60.8%


Erik, you seem to be the pot calling the kettle black.

Japan, Italy, Norway, Belgium, Isreal, France, Germany, Canada, Hungary and Portugal are all worse off in terms of their national debt.

[Aetius]

Public Debt in %GDP

Netherlands 57.3%
USA 60.8%


Erik, you seem to be the pot calling the kettle black.

Japan, Italy, Norway, Belgium, Isreal, France, Germany, Canada, Hungary and Portugal are all worse off in terms of their national debt.

Owned....

We are just bigger but you have our problems just on a smaller...but equal scale.

[Erik]

Public Debt in %GDP

Netherlands 57.3%
USA 60.8%


Erik, you seem to be the pot calling the kettle black.

Japan, Italy, Norway, Belgium, Isreal, France, Germany, Canada, Hungary and Portugal are all worse off in terms of their national debt.

1) Ever heard of household dept? That's the one that has run out.

2) It's not about total debt, but whether it's structurally increasing (good for economy and standard of living) or decreasing (bad for economy and standard of living).
The US had 30 good years because, unlike Europe, they could let their debts grow but those times have now ended.

3)

I don't remember Erik saying his country was exempt...

Welcome to the real world, America.
Just don't say we haven't warned you.

He didn't elaborate on "we" but it wasn't exactly a "We're all in this together" tone.

Indeed my point was: "welcome to the real world", the world we in Europe (and most of the world) has been living in for the past 30 years.

[Scar Face]

Exactly.

Several years before the banking crisis many experts already agreed the US economy was doomed. (and I agreed with them)

When you live off borrowed money you boost your economy and you will have it good.
But once your credit has ran out and payback time starts, you will hurt your economy even more than you boosted it before, and you will suffer greatly.

For the next 10 to 30 years Americans will have to pay for the "free rides" they have been enjoying since the 70's.
Because contrary to what overly optimistic American "economists" have been saying: you can't get something for nothing.

Welcome to the real world, America.
Just don't say we haven't warned you.

Welcome to the real world Erik. Europe and Asia have massive bubbles as well, and will be hit just as hard in the coming depression.

http://www.youtube.com/watch?v=9nJ7LM3iyNg

Love this guy.

[Boyar Son]

Exactly.

Several years before the banking crisis many experts already agreed the US economy was doomed. (and I agreed with them)

When you live off borrowed money you boost your economy and you will have it good.
But once your credit has ran out and payback time starts, you will hurt your economy even more than you boosted it before, and you will suffer greatly.

For the next 10 to 30 years Americans will have to pay for the "free rides" they have been enjoying since the 70's.
Because contrary to what overly optimistic American "economists" have been saying: you can't get something for nothing.

Welcome to the real world, America.
Just don't say we haven't warned you.

Erik your proving stereotypes so well. I mean don't you ever get tired at finger pointing?

[Sphere]

I don't remember Erik saying his country was exempt...

Welcome to the real world, America.
Just don't say we haven't warned you.

He didn't elaborate on "we" but it wasn't exactly a "We're all in this together" tone.

I don't think its accurate to characterize the whole nation like this. I wouldn't talk down to the Danes because of the fiscal irresponsibility of Italy. Likewise I am not willing to take the heat for the failures of Florida.

[Da Skinna]

What's funny is that Carter warned of it, but because he ran on "change" and not "hope and change" he lost to Reagan's "Morning in America."

The sheep hate being rattled so they chose the guy that comforted them.

[Sphere]

It all started in the '70s, you Americans just kept putting it off. You couldn't live within means then so you forced a bubble that had to eventually pop.

The US is a big place, and many regions are operating well within what is reasonable. In my own state, housing prices have remained stable, unemployment is still under 6%, and the state budget is balanced (because it legally has to be, like most states). We've been effected by the ecomonic slow-down, sure, but no bubble has burst beneth us because we were never riding one in the first place.

In Arizona, Florida and parts of California , its a different story, but they are not representative of the entire Union.