Will the economy get better or will the US dollar fail.

[Manu-20]

I know this sounds like some dumb stupid conspiracy theorie but this is something my friend told me and how I should prepare for it, at first I thought he was crazy but it doesn't sound impossible that the us dollar could fail. I looked on youtube and saw many videos on how the us dollar will fail coming soon and there will be martial laws and basic chaos. Now im new to this whole political forum and politics in general but I just want to have some insight from people who know way more than I do about what is going on in politics just to give me and idea how much smoke there is to this fire.

[CosmicCowboy]

If we do not make dramatic fundamental changes in our spending the US dollar will inevitably devalue. Right now the Dollar is still the worlds reserve currency that international trades are settled in which has helped to prop up demand for the dollar, but the rest of the world will eventually lose patience with QE1, QE2, QE3, etc to infinity and dump the dollar...maybe replaced by a new petro dollar? Either way, high interest rates and inflaton are pretty much inevitable.

[boutons_deux]

"If we do not make dramatic fundamental changes in our spending"

aka AUSTERITY in the Banksters Great Depression will WITHOUT ANY DOUBT kill Ms of jobs and prolong/deepen the Depression.

[CosmicCowboy]

"If we do not make dramatic fundamental changes in our spending"

aka AUSTERITY in the Banksters Great Depression will WITHOUT ANY DOUBT kill Ms of jobs and prolong/deepen the Depression.




Pick your poison, bitch.

[boutons_deux]

bitch, you pick the poison for others, not for yourself

"shared sacrifice" always excludes the plutocrats and 1% who are the one who created the deficit.

[dbestpro]

There is always a way out. As the following article suggests the solution is not through division but through cohesion. At least that is what the Swedish did. We have to drop what the far left and far right want to do, and do what is right for everyone. Unfortunately, unless Obama has an epiphany he may not be capable of such a transition.

http://www.slate.com/articles/news_and_politics/the_pivot/2012/10/sweden_when_its_banks_failed_the_scandinavian_coun try_made_a_miraculous.html

[Clipper Nation]

At this point, there's too much debt that it's hard to envision the whole thing NOT collapsing, tbh.... additionally, fiat money always fails because corrupt politicians eventually figure out they can print money for themselves and their cronies, and that's exactly what's been happening here, tbh....

[boutons_deux]

"cohesion."

the Repugs/VWRC has been diminishing, destroying any cohesion or civility for 30 years. It's a blatant strategy. United We Stand, Divided The 1% Rises.

[Latarian Milton]

even if it truly happens that the US dollar fails it would be more of a disaster to them chinks rather than to us imho, not a bad move to drag them chinks aboard the sinking ship. they used to attack us economically by dumping shits with wal-mart being their accomplice, and now they're getting punished for their own malice

[dbestpro]

even if it truly happens that the US dollar fails it would be more of a disaster to them chinks rather than to us imho, not a bad move to drag them chinks aboard the sinking ship. they used to attack us economically by dumping shits with wal-mart being their accomplice, and now they're getting punished for their own malice

This is one reason the Chinese continue to manipulate their own currancy value so as to move more goods verse the value of the US dollar. They buy less, but sell more.

[DMC]

I know this sounds like some dumb stupid conspiracy theorie but this is something my friend told me and how I should prepare for it, at first I thought he was crazy but it doesn't sound impossible that the us dollar could fail. I looked on youtube and saw many videos on how the us dollar will fail coming soon and there will be martial laws and basic chaos. Now im new to this whole political forum and politics in general but I just want to have some insight from people who know way more than I do about what is going on in politics just to give me and idea how much smoke there is to this fire.
That's a great question and a great opportunity for me, thanks for asking. I recently met a family in Idaho who were worried about their dollars being destroyed in the washer and I sat with them and had a long talk about the power of prayer. That family is now not worried about their dollar failing. I've had several dollars at once and never had one of them fail. I've lost a few, but I've also found that the American spirit keeps me striving to push forward. Manu-20, God is our way and with him all things are possible. God bless you, thanks again for that question.

[angrydude]

even if it truly happens that the US dollar fails it would be more of a disaster to them chinks rather than to us imho, not a bad move to drag them chinks aboard the sinking ship. they used to attack us economically by dumping shits with wal-mart being their accomplice, and now they're getting punished for their own malice

sorry to break the news to you, but China is doing currency swap deals all over the world precisely so they don't have to trade in US dollars.

With QE Infinity here at home, and a gradually decreasing demand for dollars abroad, by the time the Chinese do end up dumping their dollars, they won't be worth anything anyway.

[z0sa]

Only if you make it rain.

[ElNono]

AFAIK, dollars and govt notes are still in high demand. In the long term we probably need to get our shit together, but it's no time to panic yet, IMO.

[mercos]

AFAIK, dollars and govt notes are still in high demand. In the long term we probably need to get our shit together, but it's no time to panic yet, IMO.

This. We have long term structural problems, but in the short run the dollar isn't going anywhere.

[boutons_deux]

now is a great time for the US to be selling debt due to the extremely low interest rates, and STILL the US can sell all it wants and There Will Be Buyers.

structural problems are primarily the tax and regulatory structure that enriches and protects the 1% and corps, NOT the national debt.

[CosmicCowboy]

now is a great time for the US to be selling debt due to the extremely low interest rates, and STILL the US can sell all it wants and There Will Be Buyers.

structural problems are primarily the tax and regulatory structure that enriches and protects the 1% and corps, NOT the national debt.

:lmao

The fed buying our debt doesn't count.

[Th'Pusher]

:lmao

The fed buying our debt doesn't count.

Are you suggesting there is not international demand for US treasuries? And, maybe if congress would provide decent fiscal policy, so much loose monetary policy would not be necessary. People, corporations and he government cannot all deleverage simultaneously without serious drag on the economy.

[Wild Cobra]

We are with no doubt, on a path to failure. Unless we change the way we operate in the world, we will become a 2nd or 3rd class nation. No telling how ling it will take, but that is the path we are on.

[boutons_deux]

:lmao

The fed buying our debt doesn't count.

You said the Fed, I didn't

US Treasury sells bonds, and over 50% outstanding are held by US citizens and orgs.

[Nbadan]

if the U.S. dollar ever fails the U.S. will just print a new currency...the feds will just drop the facade and base the salary on the financial strengths of U.S multinational corporations...or something like that.....the government owns the lions share of the debt...so it can do whatever it damn well pleases

[Clipper Nation]

Good luck convincing other countries to take that crap-ass fiat money, tbh....

[Nbadan]

it would have the backing of U.S. and global conglomerations.....that's the only thing that would still have value..

but I don't see the dollar collapsing, especially with the unstable Euro...

[angrydude]

if the U.S. dollar ever fails the U.S. will just print a new currency...the feds will just drop the facade and base the salary on the financial strengths of U.S multinational corporations...or something like that.....the government owns the lions share of the debt...so it can do whatever it damn well pleases

The US may print a new currency but global trade will use a world currency consisting of something like the IMF's special drawing rights.

And when that happens you just got a lot poorer.

Thank God the euro is going down before us.

[boutons_deux]

The value of the dollar is not the US economy's biggest concern or any concern at all.

The fraud and thieving, the complexity and opacity, the many $10Ts of risk in the the US criminal financial sector are, as was the case in 2000s, STILL and BY FAR the primary concern for the 99%.

While the feeble, gutted financial regs after 2008 have done little, Gecko/Ryan and the Repugs intend to kill those and any other financial regulations.

[angrydude]

The value of the dollar is not the US economy's biggest concern or any concern at all.

The fraud and thieving, the complexity and opacity, the many $10Ts of risk in the the US criminal financial sector are, as was the case in 2000s, STILL and BY FAR the primary concern for the 99%.

While the feeble, gutted financial regs after 2008 have done little, Gecko/Ryan and the Repugs intend to kill those and any other financial regulations.

Tell the Europeans that the value of your currency is of no concern to an economy.

A weakened currency is the ultimate result of all the financial fraud and thievery you always talk about.

[boutons_deux]

"A weakened currency is the ultimate result of all the financial fraud and thievery you always talk about."

then why do you fucktards drone on about the value of a currency as the result rather than about the financial sector as the cause?

[SnakeBoy]

To the op, don't waste your time worrying about it. The dollar isn't going to fail. High interest rates are in your future ,as CC said, but the world isn't going to end.

[Clipper Nation]

it would have the backing of U.S. and global conglomerations.....that's the only thing that would still have value..

The backing of the U.S. would mean jack shit to other nations if the dollar collapses, tbh....

[diego]

As long as other countries' currencies are backed by dollars, the dollar will continue to survive- even with the US going through a depression. Govts, industry, and rich people the world over all depend on a strong dollar, and as the main actors they will do everything in their power to keep it valuable. The main thing is Bretton Woods, and it would probably take another world war to get that dramatic a change. In that sense the US military budget can be somewhat justified, because the US military is so large that that kind of threat is almost impossible, and it will take more than just a few terrorist groups provoking small (but still unnecessary) wars to really change that.

One of my cousins in argentina once told me in his own poetic way, that no matter how weak the dollar he'd never swap his stash for euros or anything else. Why? Because when we've almost finished killing this planet and you have to buy a ticket to go live in space, the people selling tickets will be american. :lol a weak dollar is just a good reason to buy more while they're cheap, and that logic will always keep the dollar high enough to be bearable, even if people in the US are used to a much more vibrant economy.

[Nbadan]

To the op, don't waste your time worrying about it. The dollar isn't going to fail. High interest rates are in your future ,as CC said, but the world isn't going to end.

High interests rates? When?

[Nbadan]

The backing of the U.S. would mean jack shit to other nations if the dollar collapses, tbh....

Would people stop buying American products if our currency collapsed? I don't think so, but lets not kid ourselves, the U.S. dollar is the world reserve currency...pretty freaking impressive considering its never been done before...ever.....everyone has a stake in the US currency....

[Nbadan]

by the way, I expect the economy to keep sputtering along until we do raise taxes on those making over $250K and show the world we are serious on paying down our debt...

[Latarian Milton]

high interest rate is a natural byproduct of economic growth just like smoke to fire imho. USD ain't gonna fail and almost all the countries, not just US will try their best to ensure the USD will survive because they're all bonded to the US currency. a hypothetical failure of US dollars will cause a devastating tsunami enough to eat the whole world alive

[Nbadan]

I'm just not seeing anything to get the money moving in the near horizon, maybe real estate will heat up again, people need something to safely throw their money into besides the all ready over inflated gold and silver markets...If Obama can get his middle class tax cut extension and a new stimulus bill, then I would start to worry about high interest rates...

[Latarian Milton]

tbh the world's economy is bonded together to such an extent that it can't afford to let any major currency (like US dollar) fail. the collapse of USD would hurt other countries just as much as it hurts us, if not more. at least the US still has tons of gold stored underground in manhattan

[FuzzyLumpkins]

If you have $2m in the bank or a lot of people owe you money i can understand being concerened about inflation but if you are living paycheck to paycheck or an approximation and/or have outstanding debts then inflation is good for you.

[SnakeBoy]

High interests rates? When?

When uncle Ben says so. I think he has committed to keeping them low through 2015.