Skip to main content

View Diary: How do we opt-out of an economic system? (56 comments)

Comment Preferences

  •  Yup. (1+ / 0-)
    Recommended by:
    Areopagitica

    When you have insolvent zombie banks continuing to do business and take money, the economy has collapsed.  When you have the uncontrolled printing of Wiemar paper notes, the economy has collapsed.

    Yes, the economy has collapsed.  It just might take a little while for everyone to realize it.

    •  Well, two things (4+ / 0-)

      If you believe that, you should say the economy is collapsing.

      And that also means that if you and I do not end up taking wheel barrow loads of cash to the store, by your standard, you are wrong.

      Let me tell you what I think collapse means: to fail suddenly and completely.

      By this usage, the financial markets did indeed collapse.

      But not the US economy.

      •  The U.S. economy is in a slow motion train wreck. (2+ / 0-)
        Recommended by:
        edtastic, Areopagitica

        Look at the numbers:  the economy is shit.  Unemployment is over 10% - and that's using the fake smiley face method of calculation.  Go to any mall or business district:  stores are empty (that is, the stores that are still there).  Look at reserve currency status:  sure, China and others can't go off the dollar right away, but they're sure as hell trying.

        Make no mistake:  we're seeing a slo-mo collapse of the U.S. economy.

        •  slow motion collapse (1+ / 0-)
          Recommended by:
          Areopagitica

          I think you mean decline.

          And that is not the same as wheel-barrow loads of cash to buy a loaf of bread.  That is a collapse of the currency.

          So, I will repeat, when it comes to that, we can restart this discussion.  And if it does not, it certainly looks like you exaggerate to the point of inaccuracy.

          The US economy has not collapsed. You said it has, as in it has collapsed.  Past tense.  Not collapsing, not we are seeing a slo mo collapse. But has collapsed.  That was your intitial statement and this is simply not the case.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site