Do you think this country is heading for financial disaster?

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  1. Working-At-Home profile image61
    Working-At-Homeposted 9 years ago

    Do you think this country is heading for financial disaster?

  2. SheriSapp profile image60
    SheriSappposted 9 years ago

    The way this administration seems to be determined to spend every penny possible--most lent to us from other nations--I am beginning to think it is inevitable.

  3. mmundy55 profile image51
    mmundy55posted 9 years ago

    It's already in a financial disaster.   Since 911 -- the economy has been spiraling out of control.  Billions of dollars in debt and money is no longer backed by pure gold but is just a piece of paper!

  4. profile image49
    jlspartzposted 9 years ago

    There's no doubt.  Everyone can do the numbers.  How much money is being spent and how much more will be needed to be paid by taxpayers, on top of social security and medicare, on top of what they owe other countries.  And now they are reporting a turnaround in the market to get everyone to believe in the market to push it back up (with no financial backing in the actually companies).  FYI for those sticking their money in now, when you own stock in a company that goes under, you get nothing back.  Everything is on credit with no plans to reduce it.  And with more unemployment that means more money being taken out and less being put in.  Any currency's strength is based on belief and support in how much value it has, even gold.  Without belief, it fails.  So what do you think the government is going to try to do?

  5. thecollecktor profile image67
    thecollecktorposted 8 years ago

    Financially many individuals are experiencing personal financial disaster.   They have lost their home, their jobs, some their self worth, and have little hope of change.    I am in the low middle income range, just now feeling we will be one of the numbers in the near future.  It is getting harder and harder to make it as a lower middle class income family.   How much worse can it get?   
    What about the loss of personal wealth.  Our government is taking more of our income by owning businesses of insurance, car manufacturers etc.   Loss of competition is a reality when our government has control of what is being sold.    When you lose the drive a free enterprise system provides, you have a financial disaster.

  6. daveearley profile image80
    daveearleyposted 8 years ago

    Definitely.  You can only pull something out of nothing for so long...which is what we are doing when we use money.  Money is nothing but modern day slavery, which leads to the majority of the problems that we see today.

  7. MikeNV profile image78
    MikeNVposted 8 years ago

    Heading?  It's already there. A disastrous crash is coming soon. Growth based on debt is not sustainable.  The point of equilibrium was passed some time ago.

    To understand why you need to do nothing more than read about the Creation of the Fractional Reserve Banking System put into place by the Federal Reserve Act of 1913.

    Right now the Federal Reserve is keeping interest rates low.  As soon as they believe there is somewhat of a self prophesied recovery you are going to see Financial Hell.  Taxes will be immediately raised to try and recoup the spending (But the spending is too large) and rampant inflation.

    When you flood a market with currency the currency becomes devalued.

    The System itself is the cause of the problem.  If you look at any Ponzi Scheme it can only last as long as there are people able to "invest" into the scheme.

    Because of the high debt burden the investment that drives money to the top is gone.

    Game over.  System must be abolished and an entirely new non-debt based system put into place.

  8. profile image45
    d.weilandposted 8 years ago

    Yes, the last few years have been bad and with more ARMS about to reset, you are going to see another big wave of foreclosures.  Job markets aren't what they should be, manufacturing is virtually non existant, tech companies have floundered, banks, the big 3 being bailed out, new taxes on banks to recoup the losses, are just going to ad to an already down spiral effect.  Interest rates on credit cards will be rising and money will be tightening up again.

    Get ready for it, because this is what your in for!!!

  9. jonywoker profile image54
    jonywokerposted 7 years ago

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