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| Re: Boehner walks away, gives up on debt negotiations with Obama (814610) | |||
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Re: Boehner walks away, gives up on debt negotiations with Obama |
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Posted by AEM-7AC #901 on Sat Jul 23 00:32:54 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by SMAZ on Sat Jul 23 00:08:56 2011. The future of Occidental civilization doesn't depend on the United States.I would make an argument that our decline would end up destroying the rest of Occidental civilization too as European debt levels would become far too high to service, and quite frankly, there simply won't be such a large economic state to basically serve as the market of last resort. Who is going to make up for that demand for those products that we once consumed, and the answer is nobody. Less-idiotic nations like Germany, etc will take up that role. They lack the projection power to do so. Hell, it remains to be seen if they could buy our CVNs at firesale prices and operate them. We're not willing to pay for it. Expenses require taxes. Ultimately, that is a real problem, but I suspect that for some there is a weird disconnect in terms of public policy and taxation, and the understanding of how government works. Those differences are not a barrier to progress. When there's one European centralized military and uniform foreign policy, we'll talk, and see how much energy deGaulle is generating in his grave. Iceland went broke, told the world to go fuck itself and started over. Yes, but when a country with actual importance to the global economy craps on itself, you're not going to get a soft landing, but a harsh one. Failed banks, destroyed wealth, and hollowed industries will result, and I wouldn't be surprised to see unemployment rates in the 50% range given the destruction of demand. It's like lending to someone with no debt versus lending to someone who's credit card is maxed out and needs money just to pay his electric bill. Who would you lend to? Neither. The former defaulted already, and latter is likely to default next. Nobody is going to lend out to the United States at anything other than usurious rates because with economic default, there is little guarantee of an ability to pay back the loan as the tax revenues will simply be a fraction of their former self, and that's if there's a financial institution that still solvent. And sometimes you must make their stupidity play out so that they can finally learn their lesson. Stupid people when hungry tend to make even worst decisions. I am not willing to starve in order to prove a point. |
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