September 08, 2006

We conned the world into loaning us money so we could buy their cheap crap. Fake prosperity, fueled with easy debt. The American dream.

Posted by blogger at 9/08/2006

14 comments:

Anonymous said...

damn now that's a bubble!

September 08, 2006 10:31 AM
Anonymous said...

but won't they be pissed when we don't pay them back (or we pay them back with worthless currency)

September 08, 2006 11:12 AM
Anonymous said...

Not to worry, the whole world's economy except for some banannas and coconuts is based on digits and bits in cyberspace. This 'globalization' endless ponzi scheme will not end in our lifetimes but when the days of reckoning do arive, they will just change the rules - unless a pandemic or nuclear terrorist act does that for them. So just relax and say "charge it" .. ol #3

September 08, 2006 12:51 PM
David said...

D*mn that's a scary graph!

September 08, 2006 12:57 PM
Bill said...

seeing that chart and the mentality of
Anonymous, Friday, September 08, 2006 12:51:18 PM

I think ill just go out today and apply for every credit card i can get my hands on and max everyone of them out, and then say screw it come get me...

heck everyone else is doing it might as well join in on the forbidden fruit.

Crazy I tell ya just crazy.

September 08, 2006 2:07 PM
Anonymous said...

we will need credit cards for food and gas if the Keith Wish comes true.
jezzuz

September 08, 2006 2:19 PM
Roccman said...

Bork - really - what is the down side?

Ok - your credit rating goes to hell- u think in 7 years when it clears the US$ will still be standing tall?

No debtors prisons

They will garnish wages from what job?

And ANON 12;51 is right (IMM) - the color of money will be changed.

People who think the 750 credit rating is the end all be all are really fooling themselves.

I want to know Bork - what is the downside. WALK and RENT. big freag'n deal

September 08, 2006 2:21 PM
Bill said...

Your correct rich there really is no down side, I own my home, I own my cars, screw it charge charge charge, like you said, when my credit score tanks big F'en deal..i might not even be on this planet is 7 years..well we all might not be here lol stroy fo another day.

September 08, 2006 3:10 PM
Roccman said...

see Bork - we all get in step at some point along the maturity curve...

September 08, 2006 3:35 PM
Anonymous said...

The US$ can't really tank because currencies are all relative to each other.

Unless the Chinese totally float their yuan---which they said they absolutely will NOT do---most of the other economies have the same problems.

Europe has less debt but worse rigidity and hostile immigrants.

September 08, 2006 7:41 PM
Anonymous said...

"Not to worry, the whole world's economy except for some banannas and coconuts is based on digits and bits in cyberspace. This 'globalization' endless ponzi scheme will not end in our lifetimes but when the days of reckoning do arive, they will just change the rules."

+++++Hmm....And "changing the rules" may mean removing the dollar as the world's reserve currency and using something else from then on, like the Euro. The Ponzi scheme may not end, true, but America itself could go bankrupt.

September 08, 2006 7:46 PM
Anonymous said...

"And "changing the rules" may mean removing the dollar as the world's reserve currency and using something else from then on, like the Euro."

Guys, think British Empire, 2/3 devaluation of the pound from '45 to '70. And they had the world's reserve currency back then. America will go through a similar, multi-decade decline.

September 08, 2006 10:52 PM
Anonymous said...

Goodness, I wonder if 1985 and Ronnie (Reagan) have something in common?

Answer: Yes, DEBT.

September 09, 2006 12:58 AM
Anonymous said...

After the smoke settles, the government will just give amnesty (all debts are forgiven), just like the illegal aliens.

September 09, 2006 2:22 AM

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