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was a brief shake up which had the potential for reversal.
charlie303 says
No, break up of the Union by 2032 if not sooner.
USA won't have it's exceptionalism nor unity to pull through the bursting of the debt bubble.
Did Greece breakup?
Argentina?
Brazil?
And (recently) the UK?
List of nations that have had debt crises is large. Those on that list that broke apart because of it are very few in number.
What will happen in the US is going to be massive spending cuts at the federal level and some states as well as possible currency reform. That's it.
charlie303 says
No, break up of the Union by 2032 if not sooner.
USA won't have it's exceptionalism nor unity to pull through the bursting of the debt bubble.
Did Greece breakup?
Argentina?
Brazil?
And (recently) the UK?
List of nations that have had debt crises is large. Those on that list that broke apart because of it are very few in number.
What will happen in the US is going to be massive spending cuts at the federal level and some states as well as possible currency reform. That's it.
I might also add to the list ... America's moral light to the world ... the light shining on the hill.
You think we're the shining beacon at THIS point? That's been gone for AGES.
richwicks says
You think we're the shining beacon at THIS point? That's been gone for AGES.
I think you're misunderstanding the point that I was making. I posted the Alexis de Tocqueville summation of what he found 18th.
Century America to be as an obvious stark contrast to what we have become. IMO, the serious slide began in earnest in the 1960's, and
it's been all downhill since.
charlie303 says
No, this debt bubble burst won't be like the others.
How so?
For those other nations, their debt to GDP ratio was far worse.
charlie303 says
time it is different because it is the US itself
So what?
the presence of overseas military/naval bases. These will probably go away.
What will happen in the US is going to be massive spending cuts at the federal level and some states as well as possible currency reform. That's it.
So, the average schmo's standard of living gets cut in half, I wonder how he will take that?
The death of America has been constantly predicted since 1776.
And I have yet to see how anything pertaining to the rest of the world being fucked leading to the breakup of America.
I've read that the 60's represented as significant a change in cultures as both the French and Communist Revolutions. At least the Chinese Cultural Revolution which is much like ours today died with (hold the) Mayo. The broad changes are the everyday experiences now: the entrenched drug culture that knows no end and kills millions of young people every year, unwed parenthood that leads to government dependency and is responsible for no telling how much mental illness as a by-product. I remember a WSJ essay from maybe 1969 or 1971 about how the barricades of the previous culture with its stigmas and prohibitions have been broken down and people living lives of degradation and poverty because of it, which we see everywhere in the coastal cities. Yes, the 60's "took".
the serious slide began in earnest in the 1960's
The broad changes are the everyday experiences now: the entrenched drug culture that knows no end and kills millions of young people every year, unwed parenthood that leads to government dependency and is responsible for no telling how much mental illness as a by-product.
NDrLoR says
The broad changes are the everyday experiences now: the entrenched drug culture that knows no end and kills millions of young people every year, unwed parenthood that leads to government dependency and is responsible for no telling how much mental illness as a by-product.
I want to point out, again, this is the main source of society's mental illness:
That tool destroys more minds than you know. I have a friendly bet with anybody here, turn that off for just a week, and see how you feel. The MAJORITY of people will be in withdrawal.
Turn off the TV, don't substitute with radio, or Internet - and see how you feel after one week of not being told how you should think, and what you should think about. Try it.
Television is o...
I think a lot will entail becoming more 3rd world.
I'm sure that contributes, but that's a beautiful TV set! So much nicer than the black plastic box school of design or I guess more recently the flat screen which has about as much personality as gravel. I still use my Panasonic with CD/VHS from 1999.
this is the main source of society's mental illness:
America is in free fall, both economically and militarily. And especially morally. It’s been a gradual decline for decades but at the end things tend to move very fast and I believe we’ve entered that final death spiral.
Just as Rome became increasingly decadent prior to its collapse in 476, so goes America
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I have my own thoughts, but I'd be really curious to hear what others have to say.