USA is bankrupt and cannot even service its debt interest

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stranger

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Peak oil is a scam; there is plenty of oil around. The concept of war for oil is not really a scam if understood properly; it is about control of oil supply and production and the currency in which it is traded.

No my friend, the scam is the oil companies and oil-rich countries who are obliged for political, financial , and commercial reasons to exaggerate the ammount of oil they have ... but you have not appreciated what the problem is, it is the rapid rise in price of oil that occurs when half the oil has been extracted and supply can no longer meet demand [because demand is rising at 3% pa as supply is already falling at 3% pa]

Thus you have neither understood the problem nor read the detailed analysis of it .because you believe the propaganda of those with short-sighted vested interests...

http://www.peakoil.net/

http://www.dieoff.org/

No, the government does not print the bills, it is the privately owned, privately run (for profit) Federal Reserve that does this, a very interesting topic in itself. Quite a few presidents got killed for trying to fix this.

That's true of course, they make money for nothing out of it, and simply make the problem worse for everyone.. but that is not good news... it means the situation is even worse than it would have been otherwise...
 
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billwald

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First, the Fed doesn't "make money" these days. They change the interest rate to make borrowing more attractive.

Second, the Fed mostly screws over Americans. The international value of the dollar is set by the commodity traders.

Third, I create money out of nothing every time I use a credit card.

Fourth, as I recall, debt service is less than 30% for the US govt. It is the general public that is causing the debt problem with upside down mortgages and car purchases.
 
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ACougar

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Current-dollar GDP -- the market value of the nation's output of goods and services -- increased
4.0 percent, or $129.8 billion, in the third quarter to a level of $13,327.1 billion. In the second quarter,
current-dollar GDP increased 5.9 percent, or $188.9 billion.

http://bea.gov/bea/newsrel/gdpnewsrelease.htm


13.3 Trillion GDP, 8.6 Trillion National Debt...

Personally, I beleive that the National Debt will rise to 10 trillion after which we'll see moderate to sever inflation for a decade... at the end of that period GDP will have at least doubled and the national debt will be around 12-15 trillion.

The dollar will be worth 1/2 to 1/3 of what it is today and the world will have absorbed over half our debt.

BTW Germany has a GDP of 2.36 trillion and a national debt of 1.36 trillion. Not quiet as bad, however not all that differant either.
 
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Exonoesis

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No my friend, the scam is the oil companies and oil-rich countries who are obliged for political, financial , and commercial reasons to exaggerate the ammount of oil they have ... but you have not appreciated what the problem is, it is the rapid rise in price of oil that occurs when half the oil has been extracted and supply can no longer meet demand [because demand is rising at 3% pa as supply is already falling at 3% pa]

Thus you have neither understood the problem nor read the detailed analysis of it .because you believe the propaganda of those with short-sighted vested interests...

http://www.peakoil.net/

http://www.dieoff.org/
http://www.google.com/search?client...com+peak+oil&sourceid=opera&ie=utf-8&oe=utf-8

That's true of course, they make money for nothing out of it, and simply make the problem worse for everyone.. but that is not good news... it means the situation is even worse than it would have been otherwise...
You act like you're telling me something I don't know.


Third, I create money out of nothing every time I use a credit card.
No you don't.
 
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stranger

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Prov 14:34 Righteousness exalteth a nation: but sin is a reproach to any people.

To print money and thus devalue what one has paid , what people have worked for, is indeed unjust, evil...

Men mostly accept this evil because it is institutionalised today in our unjust money system, but it is still evil and God has eyes that see ... thus its consequence is terrible, yet greedy men still foolishly believe that whole nations can get away with evil just because they have a big stick to beat down those who say it is unjust...

There is a reckoning described inscripture, and Americans will not like it even if they label themselves 'christians' ... [the chrsitians of scripture are made saints, they give up evil and sin after baptism of the spirit ... so there is a big difference between a christian and someone who likes to say that they are christian]
 
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The Ascetic Crusader

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OK fellas...let´s cool it a bit. The figures according to Bloomberg are as follows :

60% of US GDP is National Debt. That means , for every buck, 60 cents goes to pay our bills.

Not too bad , considering we´re currently rebulding an Islamic country.
 
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stranger

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And what is a "just" money system?

God explains that in scripture, one does not take interest [usury] on loans nor enforce repayment on those who simply cannot repay at the time , and the value of things is a just measure , so that the value of money does not reduce if one holds it [so no inflation, no printing money without any value to it to reduce the value of all money in circulation]

The value of things would be the ammount of work that went into making or obtaining them, not the price one can get for them by taking advantage of others' situation...
 
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stranger

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One should not charge excess interest. No one would loan money except as charity unless compensated for the time value of money and the risk involved.

I think that you do not understand, a good money sytem indeed could not be implemented in this world because men are not charitable to fellow men, but that does not mena that our current system is not evil, nor does it make charging any interest right...

because inyerest takes money from the poor to give money to those who are already rich and have money to loan... caning the poor is NOT God's way even though it is the capitalist way ...

What capitalists do not take account of is that God will let their evil system collapse upon itself, and it is obvious to anyone with eyes that USA will be first against the wall as the dollar collapses because USA is just printing money and undermining the value to the point that the dollar will be seen to be worthless as the increase in oil price cripples USA [still absurdly the uSA is 70% dependent upon oil]

Evil is evil, the fact that so many use an evil system does not change God's reaction to evil, He will destroy and no man can stop Him doing so...

What then is the point in greed when sharing would please God and greed leads to destruction ?
 
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stranger

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OK fellas...let´s cool it a bit. The figures according to Bloomberg are as follows :

60% of US GDP is National Debt. That means , for every buck, 60 cents goes to pay our bills.

Not too bad , considering we´re currently rebulding an Islamic country.

That's what they call 'creative accounting' , a misdirection for political purposes ... the real picture is actually independently known ...

Top Government Official Says US on Verge of Economic Disaster :
http://www.truthout.org/docs_2006/printer_102906Z.shtml

"He can speak forthrightly and independently because his job is not in jeopardy if he tells the truth," said Isabel V. Sawhill, a senior fellow in economic studies at the Brookings Institution. "

"You can't solve a problem until the majority of the people believe you have a problem that needs to be solved," Walker says..

American national debt lingered around 5.5 trillion dollars, and was shrinking at a faster rate than it ever had before.

Years into Bush's presidency, US people find themselves with the largest national debt in history (the president's new debt ceiling is now 9 trillion dollars, which the US is expected to surpass before he leaves office).

http://www.truthout.org/docs_2005/040305A.shtml

The dollar is still the world's reserve currency, even though it hasn't deserved this status for a long time. The devaluation of the dollar can't be stopped - it can only be deferred. The result could be a world economic crisis.

http://www.truthout.org/docs_2006/102506E.shtml

The US trade deficit with China was about $200 billion dollars in 2005; it was a solid $80 billion with Japan; and more than $120 billion with Europe

Self-Delusion:

the 'capital of trust' creates the very growth rates it needs in order to justify itself. US economic growth, in fact, is fueled by ever-increasing consumer spending - puzzling given that American wages are dropping as is industrial output. Still, everyone knows the answer to this riddle. The rise in consumption isn't based on an expansion of production, a rise in wages or even an increase in exports. To a large extent, it's based on the growing debt. But why do banks keep issuing credit? Because they accept the ever-increasing prices of stocks and real estate as a kind of collateral. A closed circuit of miraculous money minting has been created.

The extent of this self-delusion can be read in the balance sheets of the banks: Almost no one is saving money in the United States today. The US foreign debt grows by about $1.5 billion every weekday and has now reached about $3 trillion. Private household debt, both at home and abroad, has reached $9 trillion - and 40 percent of these debts has been incurred since 2001. The Americans are enjoying the present at the cost of selling off ever larger chunks of their future. Arguably, the imminent economic crisis is the most thoroughly predicted one in recent history. Rather than refuting the crisis, the current US economic boom merely heralds it.

http://www.truthout.org/docs_2006/printer_102506E.shtml
 
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stranger

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The crash will eventually come but those who are prudent will come out OK.

I doubt that anyone will realise that all is OK , that God is in control completely even though satan is given power over all the world [Rev 13:3-7] , cos' even the saints suffer greatly , unbelievably tested to their limits and to death by Satan's manifestation... it is far from a pretty picture that the scripture paints for them, as gruesome as Jesus' own trial to death....

ad for everyone else there is the terrible day of the Lord, the expression of God's wrath naked against all who sin [whether they think Jesus will protect them or not , God is no respecter of persons and iniquity is simply unacceptable to Him , whwether men have made up tales about it being acceptable or not ...

Whichever side one backs it is the very worst time ever known by mankind, far worse than world wars and plagues and tsunami and volcanoes that men have known from time to time :-

Daniel 12:1 And at that time shall Michael stand up, the great prince which standeth for the children of thy people: and there shall be a time of trouble, such as never was since there was a nation even to that same time: and at that time thy people shall be delivered, every one that shall be found written in the book.

It will be the greatest shock for modern christians who follow sinners instead reproving their beliefs to those of all of the saints and prophets of scripture...

quite simply they will cry out 'Lord, Lord' and be left gnashing their teeth when Jesus denies that he ever knew them because they are STILL sinners, not perfected in love :-

Luke 6:46 And why call ye me, Lord, Lord, and do not the things which I say?

Matthew 7:22 Many will say to me in that day, Lord, Lord, have we not prophesied in thy name? and in thy name have cast out devils? and in thy name done many wonderful works?
23 And then will I profess unto them, I never knew you: depart from me, ye that work iniquity. [sin!]

Jesus will not take sinners and he will hardly be fooled by their claims that he forgives them their continuing sin...

The new covenant is explicit about who alone will be forgiven their PAST sins when they become saints [cease to sin!] .... thus God, unlike most christians can tell the difference between sinners and the saints ...

Why can sinners not follow Jesus as Lord ? ... it is simple really, can a sinner obey Jesus as Lord , can a sinner love perfectly at all times?

It is simply a matter of understanding what sin is, sin is breaking the Law, and the law of God is to love... thus one is a sinner because one does not love, thus being a sinner means disobedience to Jesus [even if one cannothelp sinning because one does not know enough to stop sinning] ... thus being a sinner actually means that Jesus is NOT your Lord because you cannot obey his command to love ...

That is so simple yet chrsitains worldwide believe that they can be sinners and still follow Jesus... they think they can be sons of God without perfecting their love, without being tried in their faith as Jesus was... they have a terrible shock coming and will be very angry with the sinners who taught them... but they could have read the scripture and asked God instead...
 
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billwald

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OK, God is in control but that doesn't help. God knows every sparrow that falls but they keep falling. The elect get "pie in the sky, by and by," but there is no objective test for election.

Anyway, I worry about the grandkids. I lived through the best times in the best place since Adam got booted out of the Garden but they will have a much harder row to hoe.
 
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stranger

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OK, God is in control but that doesn't help.

Well actually it does, cos' He has said what is coming and Jesus has advised people to get ready for it ... strangely even 'christians don't listen to Jesus what Jesus said though ... so most folks are gonna get taken by surprise when he returns and takes only the saints, and things go very wrongas mankinds false palns of running the planet for the greedy and letting the poor starve come to nothing and men suffer so badly and die miserably for relying on sinners to lead us....

God knows every sparrow that falls but they keep falling.

The earth is here for God's plan, not to save sparrows from dying... God will redeem all His creation when the time comes for that, but this is not taht time, it is the time for trial of the faith given to saints so that they are perfected in love ready to serve in the redem,ption of the masses in the new earth [after the second resurrection]

The elect get "pie in the sky, by and by," but there is no objective test for election.

Yes ,there are many 'tests' or criteria given in scripture, each equally valid ... perhaps the least controversial is that given by Jesus :-

John 16:13 Howbeit when he, the Spirit of truth, is come, he will guide you into all truth:

Very FEW men know all truth of God in time before they die to perfect their love and be thus ready to be redeemed at Jesus' return , most men die as sinners just as they lived as sinners never knowing even how much they sin habitually, institutionally, endlessly but for God's intervention and freeing them from sin in DEATH :-

Romans 6:7 For he that is dead is freed from sin.

But first the proof that God is right and men have NOT devised a better way to live than love, our ways fall apart before our eyes and God's 'wrath' against our ways is to just not stop it because we have to know that He was right and we were wrong...

And the elect are taken out of the way ONLY because God requires then as His servants [Rev 7:3-10] who will be the kings and priests ministering to the masses in their redemption in turn in the new earth... so the many will be perfected in love in the next life in the body after the second resurrection ,but God really does need to get the priests ready FIRST , so He elected Israel to be His priests ad kings in His kingdom when it comes in the new earth... who do they minister to and rule over perfectly? Just the masses of sinners freed from sin by death , there is no-one else to rule and minister to :)

The strange thing is that God told this to Moses several millenia ago and men still didn't understand that Israel are chosen to be first to BENEFIT all the gentiles by SERVING as priests and kings under their messiah, Jesus.... but men cannot accaept that the paganise House of Israel and the Jews can come to believe before Jesus comes... people do not trust what Gd has said will happen and make up their own stories, even getting jealous of Israel [but the lot of the Israelite saints is mostly to die at the hands of men who do not understand their love for all men, it is not a particularly easy life in that sense , and men have no reason whatever for their bizarre hostility toward israel's two Houses just because God had to choos e someone and chose them from the beginning... men really are mostly very sick indeed , even ironically those who call themselves 'holy' and dress up like OT priests of Israel and hide behind hewn altars [ that would be funny were it not so pathetic ]

Thus the elect KNOW they are elect because they receive all truth in this life FROM GOD by His spirit of truth as Jesus promised them ... but everyone else must wait for the promised baptism of all flesh in God's spirit until after death and the second resurrection [the first time all flesh is alive to receive spirit baptism en masse]

Joel 2:28 And it shall come to pass afterward, that I will pour out my spirit upon all flesh;

So if one does not know all truth in this life, one knows on is not one of the very few elect [God requires only 144,000 perfected saints from this earth]

But we know that they are just the FIRST fruits of the spirit, priests are created to serve !

The many are saved afterward , in the new earth , where the mANY fid out how hard it is to be a saint , t perfect one's love, buthave a lot of help from the firstfruit sainst from this earth.. and Jesus rules over these king-priests as king of kings....and high priest ...

That is why Jesus is the messiah [or 'christos' in greek] , the annointed king of Israel come to re-unite the two Hosues [kingdoms] of Isarel into one holy nation of ROYAL priests

He starts with the House of Israel because they are paganised fully and scattered worldwide, living as gentiles amongst all gentile nations... and then at the very last 'hour' he enlists the Jews [House of Judah] by making them jealous of the knowledge of 'their' messiah in what seems to be mere gentiles... and how the Jews will yelp when they find out the truth written in their own Torah and Prophets, that the House of Israel indeed was lost and ceased to be a people, but have become the people of God ahead of them to draw them in too...

So ehre is another 'test', there are very many Israelites who are NOT Jews , but they carry the genetic proof that they are truly descended from Jacob, even though they have been living as gentiles since long before Jesus came... the ONLY NATION that is NOT a people is indeed the lost House of Israel , a nation that disappeared after captivity , merging with gentile nations all over the world, but Gd has not lost track of a single one ...

I Pet 2:9 But ye are a chosen generation, a royal priesthood, an holy nation, a peculiar people; that ye should shew forth the praises of him who hath called you out of darkness into his marvellous light:
10 Which in time past were not a people, but are now the people of God: which had not obtained mercy, but now have obtained mercy.

Amos 9:9 For, lo, I will command, and I will sift the house of Israel among all nations, like as corn is sifted in a sieve, yet shall not the least grain fall upon the earth.

Exodus 19:6 And ye shall be unto me a kingdom of priests, and an holy nation. These are the words which thou shalt speak unto the children of Israel.

[/quote]
Anyway, I worry about the grandkids. I lived through the best times in the best place since Adam got booted out of the Garden but they will have a much harder row to hoe.[/quote]

I think you made a mistake about the value of material benefits which were NOT shared equally between all men... 24,000 little kids died miserably in awful starvation to death every day of your life so that you could say you lived 'well'... changes the meaning of living 'well' a little doesn't it , when it was bought at cost of such misery by others ??? God is watching and He can hardly approve of the way men mostly do not care for other men , it is not loving....

Any way God will let the whole awful grreedy nations suffer the consequences of ther greed, we have global warming to destroy our food [farmers cannot grow food where plants cannot stand the changed weather, too ry, too wet, to windy, too hot, too cold] and industry and mechanised agriculture will fail now because it depends on oil so much and has not time to adapt before the crsis breaks down the money system and industry just more-or less ceases in the most terrible world slump ever known...

t could be seen as God's poetic justice to let the rich starve who never cared about the poor starving, but it is more than that, it is to take down the false pride of man in himself when he is actually not nice inside at all...

Rev 3:17 .... thou sayest, I am rich, and increased with goods, and have need of nothing; and knowest not that thou art wretched, and miserable, and poor, and blind, and naked: [Jesus]

So it will be, and it will come as a shock to many men who live carelessly , not caring that the oil their lives run upon is peaking and will go up in price continuously from now on until their system of life fails and kills them and their children and their grandchildren...

So why WORRY my friend, God TAKES life only to restore it in resurrection to the new earth...

and the new earth is RIGHTEOUS, a loving place, wheras this is an EVIL time with Satan in power in this earth now [Rev 13:3-7]

2 Peter 3:13 Nevertheless we, according to his promise, look for new heavens and a new earth, wherein dwelleth righteousness.

There is thus no point worrying or being sad about God's ending of evil by His own way of doing things... rather instead look forward to perfecting your love inthe new earth perhaps ??? In which case what you can do NOW for the grandkids is to get them reading and understanding the scripture about what is coming, we cannot change what is written from happening, so perhaps the best way to be ready is to read what is coming ?
 
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Autumnleaf

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I don't follow. Some seem to be saying, 'Since the US is going to get hit big economically the end is nigh.' Nonsense, Jesus was alive at the time of the Roman Empire. Since Jesus was walking that empire and a few others have come and gone. There is no reason to believe the end is coming just because the US is financially irresponsible.
 
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Jadiell

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If you want to understand the economic situation of the US, I really don't think the websites you've quoted (I tried to quote them but it won't let me as my post count isn't high enough) are the best place to start. I would recommend taking a course in elementary economics, it would give you a better understanding of the statistics you keep refering to.

Principles of Economics (Mankiw, N. G., 2006, Thompson-South Western) is also very good. It deals with the issues you have addressed in a far more academic and less sensationalist manner.

Jadiell
 
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inquisitor_11

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Jadiell- thats half the problem.... that economists are intent on keeping non-economists out of the debate, and the majority of people that are iin the debate, generally only have an undergraduate knowledge of economics... which is a major issue given the pedigogy of mainstream economics!
 
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Jadiell

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Jadiell- thats half the problem.... that economists are intent on keeping non-economists out of the debate

Is this addressed at me, or do you mean in general?

My intention wasn't to exclude people, however it's very easy to manipulate economic statistics in order to push your agenda, whatever that may be.

I'm not sure quite what to make of the rest of your post. Are you implying that there is some kind of conspiracy among academics to pull the wool over the eyes of the general population?
 
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