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Author Topic: The United States is in Worse Shape Financially Than Russia  (Read 1354 times)
allthingsluxury
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November 02, 2016, 12:52:35 PM
 #1


Boston University Economics Professor Laurence Kotlikoff says, “So, if you put everything on the books, we’re broke, and we’ve been printing money out the wazoo since 2007 to pay Congress’s bills. That’s the truth about quantitative easing.

We need to have somebody who knows what’s going on in the big picture here and has a game plan to get rid of this fiscal gap, and do it without total chaos. If we leave things the way they are, people will view the country as leaderless fundamentally and printing money to pay its bills.

Then, the expectation will occur, and that’s going to raise rates, and that’s going to drop bond prices, and that will sink the banks, and, yes, you can have another great recession like Bill Gross is referencing (bond super nova).

I’ve been saying this for decades. The time for the last straw to drop on the camel’s back, and when it’s going to drop that camel is hard to say.

If you look at the fundamentals, and the fundamentals look like that of an emerging country, we are the most indebted developed country relative to GDP of any country around.

We are in worse shape, I believe, than Russia or Greece, and far worse shape than Italy.”



Click here to watch this video:

http://www.goldsilverliberty.com/2016/10/the-united-states-is-in-worse-shape.html


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November 02, 2016, 01:38:08 PM
 #2

The only saving grace for the USA is that its  external debt is denominated in dollars, which it can print. This is not the case for other countries. As long as they are able to refinance their debt, the cycle continues.

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November 02, 2016, 02:10:44 PM
 #3

I believe so, that US has trillions? of debts and as what I read before,they are indebted to China also. Also even though strong in military and technology, but its not sound financially. And it seems its a ticking bomb,waiting to explode.


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allthingsluxury
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November 02, 2016, 04:11:36 PM
 #4

The only saving grace for the USA is that its  external debt is denominated in dollars, which it can print. This is not the case for other countries. As long as they are able to refinance their debt, the cycle continues.

Definitely, if this power is EVER took away from them, then there will be a currency collapse of epic proportions.

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November 02, 2016, 04:18:46 PM
 #5

I believe so, that US has trillions? of debts and as what I read before,they are indebted to China also. Also even though strong in military and technology, but its not sound financially. And it seems its a ticking bomb,waiting to explode.

Well the U.S. might abuse its military power and just not pay its debt or engage in some kind of war that results in debt relief.

The whole power of the U.S. relies on the status of the USD as a world trade currency. That status is about to collapse. It's possible that the USD will be the last national currency that will have the status of a trade currency. The age of cryptocurrencies is looming...

While the U.S. are accumulating debt, Russia and China are buying significant amounts of gold. Russia also has a tremendous amount of unexploited or unexplored resources. Therefore I think we will see a shift of power from the West to the East in the coming decades.

ya.ya.yo!
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November 03, 2016, 01:37:19 PM
 #6

Completely agree, the slow shift of power that is occurring as we speak, from West to East, is only going to continue on.

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November 03, 2016, 06:05:32 PM
 #7

Completely agree, the slow shift of power that is occurring as we speak, from West to East, is only going to continue on.

This is the crux of it. The switch of power would have to be gradual as the East is also highly vested in the USD and would not want to cause a ripple that could take them down at the same time. So many things revolve around the American dollar that it will be a real slow go,to the point it will not likely be in most of our lifetimes for it to be successful.
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November 03, 2016, 06:16:21 PM
 #8

The solution is very easy. Why is he worried about it? Print more money and you can pay your debts. Better, print a lot more money and give it to the US citizens for free. People won't have to work so you won't need Apple or Microsoft anymore. Shut them down too.
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November 03, 2016, 07:09:49 PM
 #9

I checked the national debt of the United States, right now is almost 20 trillions of dollars. I think print more money to pay your bill with only paper money is not the way to continue. We should find new economic rules for the future.

You can see the national debt in real time on this website.
http://www.nationaldebtclocks.org/debtclock/unitedstates
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November 03, 2016, 07:59:43 PM
 #10

it is not that grim
US is in a very bad shape due to their  debt spiralling out of control ,which has to be serviced
thus upping the interest rate would straight destroy the economy
but the US possess one of the strongest military in the world and could want to solve all their problems the way they have been doing it before-organise wars and instability around the globe
ask yourselves: if I were the US how would I get rid of my debts?
only 2 ways-default and insolvency
or some mega war or cataclism wiping out the records and starting the pyramid anew
and no,they can't possibly pay it out,it wasn't supposed to be paid out as it was some kind of  tribute not a loan per se

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November 03, 2016, 08:00:55 PM
 #11

See, there is an universal rule that each country should print its paper currency in proportionate to value of gold it has. But only, the US government dont follow it. They print countless amounts of paper money as they wish.If all of people suddenly return their dollars and ask gold for that dollar value, US government will not be able to pay.So, definitely US Dollar is going to collapse and obviously,US is going to collapse.
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November 03, 2016, 08:17:46 PM
 #12

I believe so, that US has trillions? of debts and as what I read before,they are indebted to China also. Also even though strong in military and technology, but its not sound financially. And it seems its a ticking bomb,waiting to explode.

Well the U.S. might abuse its military power and just not pay its debt or engage in some kind of war that results in debt relief.

The whole power of the U.S. relies on the status of the USD as a world trade currency. That status is about to collapse. It's possible that the USD will be the last national currency that will have the status of a trade currency. The age of cryptocurrencies is looming...

While the U.S. are accumulating debt, Russia and China are buying significant amounts of gold. Russia also has a tremendous amount of unexploited or unexplored resources. Therefore I think we will see a shift of power from the West to the East in the coming decades.

ya.ya.yo!
Unlikely, military power only works if we are talking about some kind of traditional conflict with soldier’s tanks, etc. but in this M.A.D era that is not going to work.



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veleten
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November 03, 2016, 08:33:41 PM
 #13

the video is a nice change from the common rethorics towards Russia
which can be illustrated by this picture:



everythin that goes wrong is because Putin did it Smiley
I wonder if by any miracle Clinton is cheated into presidency,how long would it take to start a WW3 with China and Russia?

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November 03, 2016, 09:01:23 PM
 #14

The only saving grace for the USA is that its  external debt is denominated in dollars, which it can print. This is not the case for other countries. As long as they are able to refinance their debt, the cycle continues.

That is right. The American government does not need to worry about its debt. It can easily pay back.
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November 04, 2016, 01:40:32 AM
 #15

The only saving grace for the USA is that its  external debt is denominated in dollars, which it can print. This is not the case for other countries. As long as they are able to refinance their debt, the cycle continues.

That is right. The American government does not need to worry about its debt. It can easily pay back.
it won't pay it back,it is not meant to be paid back
this not a debt but a toll on all the countries through the combination of their printed paper and military force
how well do you think you would be doing if I printed money and took your things in exchange for that printed paper?
the US function as a huge vacuum cleaner collecting brains and resources from all over the world

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November 04, 2016, 02:00:25 AM
 #16

Yeah, a lot of major countries are teetering on the edge of economic collapse right now. It's just a bunch of people who believe that they have a lot of assets in other means (like housing, resources that aren't having their value realized, etc.) and think that they are doping fine economically.

The US has been and likely will be struggling for a long period of time. Russia can at least export oil and gas to Europe.

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November 04, 2016, 02:32:51 AM
 #17



User OgNasty posted this picture in another topic.

I think we need to be very careful because we are on the edge right now.
The United States is the guy in a rich neighborhood who lost his job but lies to his wife and pretends to go to work every day.
We are just trying to keep up appearances but the checkbook is empty kids.
It's only a matter of time before the whole thing crashes down and the repo men come to take all the furniture.

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November 04, 2016, 04:14:32 AM
 #18

The only saving grace for the USA is that its  external debt is denominated in dollars, which it can print. This is not the case for other countries. As long as they are able to refinance their debt, the cycle continues.

this the US can print its way out of any debt....

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November 04, 2016, 05:44:07 AM
 #19

The problem with printing money all the time is it keeps making the middle classes and poor people even poorer as their purchasing power keeps going down and this isn't a good thing long term at all. Also increasing the debt ceiling is a big problem and this has to be sorted out. Russia and China are buying up a lot of gold reserves, what is the U.S doing to strengthen it's fiat currency?
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November 04, 2016, 07:32:46 PM
 #20

Russia and China are buying up a lot of gold reserves, what is the U.S doing to strengthen it's fiat currency?

Russia: 1447 tonnes
China: 1800 tonnes
USA: 8133 tonnes

So it would seem that the US has sufficient reserves in proportion to money supply - at least as a ratio comparable to other actors. Whether or not any real currency should be fiat is another discussion entirely.

Of course, China's 1800 is just what they are admitting to. Speculation is that they may hold up to double that amount.

And nobody has seen USA's gold for over half-century. Is it still there?

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