There Will Be No Economic Recovery [vid]

[Game Over]

One man sharing his analysis of the current state of the US Economy.

If the federal government began at this moment to pay off the US national debt at a rate of one dollar per second, it would take over 440,000 years to pay off the national debt ...

... or in other words, 3 showings of The Hobbit.

Discuss ...

 

[Chaos]

These governors and presidents claim that they will improve the economy but we know it won't happen and since we're in big debt I doubt we'll have any good specific "changes" I also think there's some type of secret conspiracy going on, something we really need to know.

 

[DR2K]

Money just needs to keep going into paying back the debt, even if it's increasing, it doesn't need to be paid off completely.

A nation that prints its own money isn't going to go broke because it owes money. The global economy relies too heavily on it.

 

[shunwong]

Capitalism does not need to show a pretty face anymore. The commies are capitalists too now. We are screwed. I do 3 jobs for the price of one and my boss still thinks it's not enough. Go figure.

 

[SilverForte]

Any currency that is continuously printed will eventually be worth nothing. The 1st step to recovering the economy would be to revert to a hard currency, gold and the like. Of course there would have to be transition programs. Ron Paul has said all this for years.

 

[Game Over]

These governors and presidents claim that they will improve the economy but we know it won't happen and since we're in big debt I doubt we'll have any good specific "changes" I also think there's some type of secret conspiracy going on, something we really need to know.

No conspiracy. Just the effects of the "capitalist" structure of the US economy being essentially EXPLOITED by the top income-earners. As pointed out in the video, the income disparity in this country in downright despicable, as many big business heads constantly aim to draw all the money they can get from consumers, invest a bunch of that money into their own sets of personal investments and luxuries, then turnaround and look to cut "labor costs" whenever something looks to be not profitable.

Problem is this is VERY MUCH UNSUSTAINABLE as an economic trend. When you layoff, or otherwise lower the wages of, workers, what you are doing is reducing the amount of money in the consumer base. This leads to lower consumer spending, which leads to lower company sales/revenues, which leads to more(?) layoffs and lowered wages, etc., ad nauseum ... tumbling into a downward spiral. And to that, ADD the ever-increasing debt-burden, tax-burden (particularly on middle-class), and overall cost of living, and the problems just multiply each other. PLUS, when you have increasing numbers of unemployed workers being "supported" by government programs, it only serves to increase the national debt EXPONENTIALLY.

For an economy to truly THRIVE, working people need to be able to NOT ONLY sustain their own costs of living (ABOVE the poverty line), they also need to have the money to spare to contribute to the general economy through the purchasing of various goods and services. Simple. But problems in this country stem from big business seeming to have this delusional belief that people will keep spending money they don't have (credit vs income) on things they can't afford (due to low income) to continually drive the fattening of wallets. But plain and simply, the math on that DOES NOT WORK.

I mean, the recent government bailout of major banks and organizations that happened was due BECAUSE of people getting buried in DEBT that they DID NOT HAVE THE INCOME TO PAY BACK. Sure, in theory, the idea of issuing credit to people is profitable for business because you made interest on the money you lend out. But the whole idea of making that profit RELIES on people being issued that credit being able to pay back the value of that credit. If people don't have the income to payback debt, FINANCIAL STRUCTURES COLLAPSE ... which is EXACTLY what we were seeing before the bailout.

In a country supposedly as affluent and as developed as the US is, someone (especially a US citizen) working a FULL-TIME job should not be working that job at an income level BELOW the poverty line. Period. When full-time workers (especially a growing portion) work for poverty wages, THE WHOLE COUNTRY suffers for it because we are all connected in the big picture of it all.

 

[Rikuto]

Capitalism does not need to show a pretty face anymore. The commies are capitalists too now. We are screwed. I do 3 jobs for the price of one and my boss still thinks it's not enough. Go figure.

Ironic, isn't it?

The commies become more like capitalists, and the capitalists become more like commies.

 

[FakeSypha]

Pff... you should live in Argentina to see how is NOT to recover from an economy crisis. Seriously. We had a big flop in the 90s, and another big one on 2001.
It's funny how most of the economic problems stated in the video are quite similar to the ones we suffered or currently suffer in my country. And that's not a good sign for you guys...

edit: @42:31 lol, I'd be happy with a 10% annual inflation. We have around 25-30% inflation each year.

 

[shunwong]

Ironic, isn't it?

The commies become more like capitalists, and the capitalists become more like commies.

Funny you should mention this. I have a workmate from Romania who lived under Caucescu who finds lots of similarities between communist Romania and nowadays Spain. Hes also big in conspiracy theories.

 

[Blazeincarnated]

Its the illuminati.