END OF NATIONS!?! - Paul Saffo (forecaster) 01-11-2008 - Q&A Fragment

[quadcatfly]

... and my welfare checks keep coming. I collect upward of 65K doing f@@k all !! Long live Nancy Pelosi !!!!

[madcubano1]

Let me ask you this, how will the U.S. continue to pay for its military and everything else? Tax revenues do not cover the expenditures. That means that the US govt has to borrow money to pay for its expenditures. Once borrowing is no longer an option, the only way to pay for things is through the printing presses. You seem to know quite a bit about history, I'm sure your aware of the many countries that have done this in the past (Germany, USSR, Argentina, etc...).

[really12345]

You're right this is a crisis. Unprecedented in it's breadth.

The world is more economically interconnected than ever before, the U.S. is the biggest military power, economic, and creditor too and a much smaller peasant economy that the underdeveloped economies can fall back on.

This IS creating a social crisis.

As the communist manifesto observed 160 years ago

"the modern working class, who live only so long as they find work and who find work only so long as their labor increases capital"

[madcubano1]

I agree, this is a economic and social crisis. The way out is to get our economy back on track through production/manufacturing.

Since American's have over-consumed for the last decade, we have to produce for the benefit of the rest of the world and pay off our debts.

Unfortunately, many things are conspiring against this. When our govt borrows money, this money is not available for the private sector. When our govt spends, it does so in areas that do not benefit our productive output.

[madcubano1]

It is somewhat ironic that we have the finest military in the world but in just a few years time we will be the most vulnerable nation.

The dollar will cease to be the international reserve currency. There are already calls for the Euro to take its place, and China is running limited experiments using the Yuan instead of the dollar. The US is in a financial crisis and current policies will further weaken the dollar until it eventually collapses.

[really12345]

Have you followed what been happening in Europe and China in the last year.

I totally disagree with that.

In less than a year China has had over 20 million job losses. 20 million!!!

[ewrh78]

Well there are separatist movements in a couple of european couuntries (Britain, Belgium, France, Spain, Italy, Hungery) - not to speak of china (Tibet is just the best known)

The Dollar is already ruined - (well the most important reason for the iraq war was that Hussein sold his Oil in Euro) - now again the others are discussing it (OPEC, Russia)

THe Euro will step in for the Transition - for the long term there is no other than China to take the lead

[really12345]

What do you mean by separatists? I can think of Ireland in to britain and the basques to spain. But France? Italy?

China is somewhat different. After 1949 the Chinese revolution broke out and was concretized after the invasion of the Korean peninsula by several western powers still vying to divide up the world.

China's invasion of Tibet was to prevent the U.S. from attempting a counter-revolution from its soil.

Anti colonial struggles,and revolutionary upheavals were common there at the time

[ewrh78]

well

France - have basques too (more quite but same goals)  ( + big Algerian-French minority)

GB - ve heard that the Scot want to get independend (???)

Italy - "Mezzogiorno" - problem (north rich - south poor)

[really12345]

Have the Basques in France taken the same form as the have in Spain, that of an oppressed nationality.

Scottish independence in the U.K. and Welch independence are unresolved issues.

Algeria unlike the rest has an independent nation.

These fights are related, being part of struggles against colonialism, and its modern outgrowth imperialism.

The Bolsheviks correctly pointed out that the struggle for independence is tied up with the struggle for socialism. The struggle of Labor vs. Capital

[really12345]

Divisions within the E.U. are increasing. Not to mention Washington's display of force, by NATO, during the Balkan wars, The U.S. showed that it was the largest military power in Europe.

The U.S. gained an advantage over france invading Iraq. But the U.S. rulers need a stable base to assert their power from as Israel becomes a less reliable protectorate.

reserve currency, no one knows the future

appreciating yen = 38% drop in japanese exports last year

japan is the 4th largest exporter

[madcubano1]

The US will be falling apart within the next year or two. The US govt is bankrupt and will be running the printing presses to pay for all its services and policing the world and all of the bailouts and stimulus packages. The result is going to be a hyperinflationary depression. We are in the early stages right now. Enjoy the ride.

[madcubano1]

Any country that uses a fiat currency eventually develops a govt that that spends more than it receives in taxes. The final outcome is always a unserviceable federal debt followed by hyperinflation and economic collapse.

The Euro is safe for the moment. However, many countries using the Euro already have enormous federal debts so it's simply a matter of time before they follow suit. Without constraints on spending it is a foregone conclusion.

[Lingerfoot]

What about The North American Union and The Amero? Ron Paul and Jesse Ventura - 2012!