Korean Job Discussion Forums

[stupified]

Yes, the US does have a future but a diminished one. Folks there are just going to have to live poorer. After the Fed finishes its money printing looks like inflation will engulf the economy. How much...who knows. Speculations abound. It'll take about ten years for the economy to return to any semblance of what it was before. This will have some harsh effects on people who never realized that much of our illusive prosperity in the recent past was due to cheap credit. I always thought are economic house of cards would tumble but, boy howdy, it seems to be happening very fast. On the upside, we still have lots of resources and an innovative spirit. Small interlinked communities will have to be rebuilt and cling together for the transfer of goods if purchasing power of the dollar is smashed. Many parts will survive, thrive and some parts will further desend into wild west chaos.

[comm]

[Louis VI]

USA is so gigantic in terms of economy that any prediction of its demise is laughable. And I say that as a non-American who simply looks at the stats.

California qua California will do just fine (GDP same as France).
Texas qua Texas will do just fine (GDP of Canada).
New York will do fine (GDP of Brazil).
New Jersey will do fine (GDP of Russia).
Florida will do fine (GDP of South Korea).

If each U.S. state were independent nations then 10 of the world's top-20 economies would be those U.S. states!

All the states of the U.S. of A. have a combined GDP over THREE TIMES greater than the economies of China, Japan and Germany combined. The economic problems ought to be put into context. Even if - heaven forbid - they get two quarters of negative growth and thus have a recession, it'd have to go on for half a century before any other country would match its gross domestic product.

[Kuros]

[Hindsight]

[Kuros]

[Suwon4AGT]

Isn't it great being an American Economic Refugee Slave in the ROK? Gotta love it.

And it keeps getting better. Obama on his recent Asian tour, trying to sell the ROK on the idea that the U.S. isn't printing money or trying to weaken the U.S. dollar (yeah, whatever!!) while pointing fingers at China. What a joke.

Nevertheless, I have a secret wish for the Fed Reserve to succeed at its goal. All that phony money and the Asian creditors fleeing from the dollar would bring on hyperinflation and I could pay off my student loans with a week's salary. Don't tell me that thought hasn't crossed your mind.

I used to think dudes like Peter Schiff and Gerald Celente were out of their minds (and full of agendas to pimp commodities). But I just don't see how the U.S. government can pull off propping up this phony economy without bankrupting the country.

[Kuros]

[mises]