Quote:
Originally Posted by renormalised
I think we're going to see quite a few more US companies go belly up. Despite all the assurances and the media BS, the US economy is pretty much terminally ill. It's only a matter of time before this ridiculous "debt ceiling" of theirs becomes so unwieldy and their government so ridiculously inept that the backside falls out of it. Might be time to learn how to grind large mirror blanks!!!
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Yes Carl, I agree, the US economy, like a lot of economies around the world are built like a house of cards and will collapse accordingly, in due course. The US is currently at 73% debt to GDP ratio. What happens when it gets nearer 100%? It has to collapse at some point, as you cannot keep borrowing money without paying it back.
As for governments being inept.......nothing new there then.
Cheers Pete