Money guys - Does this seem plausable- Bankrupt country?

[9elf]

Our country (Australia) has the same demographic.

This video shows a monumental financial strain on governments of the future, to the detriment of following generations. (I don't know if the bloke in the video is who he says he is, or is some kind of stooge?)

Does anyone here subscibe to this line of thinking?

Is it over-hyped or certain to happen?

[legion]

No country for old men...

[turbo6bar]

Ron Paul wants to kill spending, but I think we need to go further. Spending must be cut and revenues must increase. It's a recipe a depression.

The likely outcome is mix of modest spending increases, strong revenue growth, and moderate inflation pressures. Essentially, grandma's Social Security check and investments will grow on a nominal basis, but actually lose on a real basis.

[John_AZ]

The host, Glenn Beck, lost my attention when he dismissed global warming in the introduction. Australia and the United States were the two major powers not to sign the Kyoto Treaty. We have more than the same demographic. The U.S. sucks oil and Australia is the worlds largest producer of coal-both producing major green house gasses.

The Fiscal Tsunami described by David Walker, G.A.O head, cannot be disputed. He has all the numbers that I have trouble comprehending. I am financially prepared to accept that the free ride will end on Social Security and health care.
Will it bring The U.S. to financial bankruptcy? I do not believe it will. We will sell our souls to the Sovereign Wealth funds and they will rule our lives.

9elf once said: "I thought that I over thought until I came to the conclusion that I didn't. But then nobody who over thinks, thinks that they do. Therefore how do I know if I do?

John_AZ

[Porsche-O-Phile]

The American Way:

1. Do whatever you damn well please, today - without thought for consequence.
2. Pass the problem off to your kids. Make sure to tell them you love them and you only want what's best for them and to make sure they inherit a planet better than we had.
3. Repeat.

[NICKG]

Originally Posted by John_AZ

The host, Glenn Beck, lost my attention when he dismissed global warming in the introduction. Australia and the United States were the two major powers not to sign the Kyoto Treaty. We have more than the same demographic. The U.S. sucks oil and Australia is the worlds largest producer of coal-both producing major green house gasses.

John_AZ

well if you really want to cut down greenhouse gas emmissions...ban brewing...the yeast gives off co2 in the fermentation stages..especially in beer

[MRM]

Major nations going into BKY is technically possible, but is only going to happen if we truly are at the end of civilization. The world economy is so huge and robust that things always seem better or worse than they really are. Worse comes to worse and the US starts means testing Social Security and Medicare and the budget snaps back into shape.

That's not saying things are good right now. It probably is true that if present trends continue we will bankrupt western civilization. But if present trends continue when a pig is born, the rate of increase in the size of the pig during its first week of life would make it bigger than the entire world in something like a month or so. With the US and Australian economies worth trillions of dollars each year and quintillions of dollars in aggregate value, it's easy to put up scary numbers that sound bad in absolute numbers but are less scary as a percentage of the economy.

The point is, yes, it is possible. But we would really have to work at it and you shouldn't confuse out of whack fundamentals with the destruction of civilization, nor should you remain oblivious to obvious dangers. We are not at the brink, but we'll get there at this rate if we don't change. So by that definition we're at the same crossroad that humanity has been at for eternity.

[Porsche-O-Phile]

Originally Posted by NICKG

well if you really want to cut down greenhouse gas emmissions...ban brewing...the yeast gives off co2 in the fermentation stages..especially in beer

[NICKG]

it is true...

[onewhippedpuppy]

Originally Posted by John_AZ

The host, Glenn Beck, lost my attention when he dismissed global warming in the introduction. Australia and the United States were the two major powers not to sign the Kyoto Treaty. We have more than the same demographic. The U.S. sucks oil and Australia is the worlds largest producer of coal-both producing major green house gasses.

I'm still waiting on a scientific concensus on this from someone other than Al Gore. You know, from SCIENTISTS. When there are as many on one side as there are the other, it's pretty damn tough to represent it as fact. Pretty arrogant on our part, to think that we can take 100 years of hard data and extrapolate it to the thousands of years the Earth has existed, all the while throwing out the fact that the climate has historically been cyclical.

Not at all arguing the fact that we need to curtail our current polution and consumption, and move towards a sustainable society. However, the current global warming movement is 10% science, 90% rhetoric.

[Dantilla]

I'd like to see a law-

Government accounting rules should mirror the accounting rules that everybody else has to follow.

Fat chance that the very same people playing tricks with the numbers would limit themselves.

[Porsche-O-Phile]

I suppose we could all just drink scotch instead. . .

[NICKG]

Originally Posted by onewhippedpuppy

I'm still waiting on a scientific concensus on this from someone other than Al Gore. You know, from SCIENTISTS. When there are as many on one side as there are the other, it's pretty damn tough to represent it as fact. Pretty arrogant on our part, to think that we can take 100 years of hard data and extrapolate it to the thousands of years the Earth has existed, all the while throwing out the fact that the climate has historically been cyclical.

Not at all arguing the fact that we need to curtail our current polution and consumption, and move towards a sustainable society. However, the current global warming movement is 10% science, 90% rhetoric.

there was a very interesteing analysis on this shown last night on discovery channel...look for it it was a show called CRUDE, about oil and how it came to be.

[NICKG]

Originally Posted by Porsche-O-Phile

I suppose we could all just drink scotch instead. . .

yea..
it all adds together, the deforestation, use of cars, animal farming brewing etc..it all adds up. I would think it is not 1 specific thing really but the convergience of it all. watch that show, it talks alot about this

[John_AZ]

Originally Posted by onewhippedpuppy

Not at all arguing the fact that we need to curtail our current polution and consumption, and move towards a sustainable society. However, the current global warming movement is 10% science, 90% rhetoric.

Al Gore would say you have gotten your "sales" training degree from the tobacco companies who argued that cancer was a myth and now 100% fact.

I was much more hoping my comment about Sovereign Wealth funds would generate debate. I am more worried about the IOU's we face.

John_AZ