The U.S. --- bankrupt now?

• gut

  IggyPride00;448869 wrote:Problem is that for 30 years wages haven't kept up, and to fill the gap between rising prices and stagnant wages we put it on credit cards to make up the difference.

  Actually it has when you include benefits as part of total comp, which is the correct way to look at it. Of course, that's a form of socialism and I'd prefer a bit more flexibility - why should part of my comp, as a single guy, go to subsidize a guy with a wife and five kids?
  
  Living beyond one's means really has little to do with wages.
• BGFalcons82

  

  I'm noticing the price of oil has been inching up over the past few months, even though demand is flat, if not decreasing. Supplies are up, demand is down...and yet the price is rising. Does this scare anyone that this vital commodity is flying in the face of supply and demand economics? The answer lies in the US debt, the deflating dollar, and the fact that the world doesn't feel any enthusiasm about the American Economic Engine being able to pull everyone out of this malaise/recession.
  
  If you think raising taxes is a big issue...what happens when gas gets over $3/gallon and approaches $4 and the people have no money left over to spend our way out of it? Growth stagnates, taxes rise, and the dollar continues its descent into hell. Hold on tight, it's gonna get rough.
• majorspark

  

  BGFalcons82;448594 wrote:QO - that would take a revolution to make it happen. Maybe they'll get the hint on November 2. If not, get lots of cigs and ammo, it's gonna be a rough ride.

  
  I have said this many times. It will take some sort of revolution to force the federal government to do what needs to be done. I hope it happens at the ballot box and maybe this time republicans turn from their hypocritical ways and shrink the government and cut spending. I have my doubts. The laws of economics will soon force our government to make drastic cuts in services and drastically raise taxes. At this time the people at large will realize they have been had by the federal government. It won't be pretty.
• IggyPride00

  

  Does this scare anyone that this vital commodity is flying in the face of supply and demand economics?

  You're about 5 or 6 years late to the game.
  
  The price of oil has long since been decoupled from supply and demand. Wallstreet and OPEC collectively insure that this will remain the case.
• ernest_t_bass

  

  FairwoodKing;448354 wrote:some of us can't live without it.

  
  A relative term. I can't sympathize or empathize, but a relative term.
• gut

  IggyPride00;448930 wrote:You're about 5 or 6 years late to the game.
  
  The price of oil has long since been decoupled from supply and demand. Wallstreet and OPEC collectively insure that this will remain the case.

  
  But the weakening dollar has a lot to do with it as well.
• Belly35

  

  By the way, gold is trading at near $1250 which is a further indicator of the shifting sands of economics at a global dimension and I see nothing that tells me it will not move more toward $1500 which means the equity and bond markets will continue to stumble due in large part to TOO MUCH DEBT
• dwccrew

  

  FairwoodKing;448354 wrote: I know the system is in trouble, but some of us can't live without it.

  
  Soon enough none of us will be able to live WITH it.