MIT researchers predict ‘global economic collapse’ by 2030 [Archive] - Glock Talk

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Ruble Noon
04-04-2012, 15:28
http://news.yahoo.com/blogs/sideshow/next-great-depression-mit-researchers-predict-global-economic-190352944.html

JBnTX
04-04-2012, 15:50
It's all got to end sometime. :violin:


My money's on 21 December 2012, when the Mayan calender ends.

..

Atomic Punk
04-04-2012, 15:54
It's all got to end sometime. :violin:


My money's on 21 December 2012, when the Mayan calender ends.

..

i have found it funny ( for about 4 years ) that the mayan thing is not too long after our next presidential election.

coastal4974
04-04-2012, 16:37
Surprised we have that long. Maybe they figured the Obama is a one termer.

G19G20
04-04-2012, 17:42
Club of Rome is an elite membership group that uses environmental scare tactics to subtly promote eugenics and world government, including world carbon taxes. This article is par for the course for anything they sponsor.

Notice they don't blame monetary policies, government policies, etc. They blame you for the coming collapse because you're a "useless eater" and you're using up all the resources and harming the planet. What's the solution then? Get rid of you.

QNman
04-04-2012, 18:50
Well... Right conclusion, wrong premise. JMHO.

aircarver
04-04-2012, 18:51
That long ? ......:shocked:

.

Bren
04-04-2012, 19:01
What happened to the predictions that all the poor people would die of AIDS and ebola before now and the rest of us will drown in rising oceans by then?

In short - so what?

walt cowan
04-05-2012, 07:10
no squat.

DonGlock26
04-05-2012, 07:39
Do we have decades, years, or mere months? That is the real question.

.

series1811
04-05-2012, 08:12
That's crazy talk. Everyone knows that there is no problem regarding how much money that can be borrowed and/or owed, that can't be fixed by just printing more.

Do all these chicken littles not realize how much ink and paper we have in this country? Plenty to print enough money to pay all of our debts off threefold, at least.

Quit worrying. That's our kids and grandkids problems, anyway.

Guss
04-05-2012, 09:05
Economist Thomas Malthus tried to warn us back in the 1800's that eventually population growth relative to resources would eventually do us in.
http://en.wikipedia.org/wiki/An_Essay_on_the_Principle_of_Population
Congratulations to China for cutting back on population growth. They saw the future and addressed it.

series1811
04-05-2012, 09:08
Economist Thomas Malthus tried to warn us back in the 1800's that eventually population growth relative to resources would eventually do us in.
http://en.wikipedia.org/wiki/An_Essay_on_the_Principle_of_Population
Congratulations to China for cutting back on population growth. They saw the future and addressed it.

Well, actually, without immigration, the United States would have near zero population growth, too.

But, we can't control third world birth rates, nor their immigration here, afterwards, apparently.

Goaltender66
04-05-2012, 09:09
Economist Thomas Malthus tried to warn us back in the 1800's that eventually population growth relative to resources would eventually do us in.
http://en.wikipedia.org/wiki/An_Essay_on_the_Principle_of_Population
Congratulations to China for cutting back on population growth. They saw the future and addressed it.

Malthus never accounted for technological advancement in his doomsday prophesies, and he's an even bigger joke in economic circles than Bill Mitchell, Stephanie Kelton, JK Galbraith Jr., and that whole stupid MMT thing.

aircarver
04-05-2012, 09:12
.......Quit worrying. That's our kids and grandkids problems, anyway.
But they get to pick our nursing homes ......:supergrin:



:wow:.........:alex:

.

series1811
04-05-2012, 09:14
But they get to pick our nursing homes ......:supergrin:



:wow:.........:alex:

.

No worries, there. They'll be putting pillows over our heads in our sleep when they figure out what we did to them. :supergrin:

DonGlock26
04-05-2012, 10:06
Economist Thomas Malthus tried to warn us back in the 1800's that eventually population growth relative to resources would eventually do us in.
http://en.wikipedia.org/wiki/An_Essay_on_the_Principle_of_Population
Congratulations to China for cutting back on population growth. They saw the future and addressed it.

Why didn't we all starve to death in the 1960's?

_

brickboy240
04-05-2012, 10:17
We don't have that long.

The dollar will lose its reserve currency status during the next presidential term along with a few more credit downgrades. That will bring in hyperinflation and collapse society as we know it long before 2030.

- brickboy240

Goaltender66
04-05-2012, 10:33
We don't have that long.

The dollar will lose its reserve currency status during the next presidential term along with a few more credit downgrades. That will bring in hyperinflation and collapse society as we know it long before 2030.

- brickboy240

Well, I don't see the USD losing its reserve currency status any time soon, mainly because there's no good alternative. The Yuan isn't ever going to be a reserve currency because China won't let it float nor will the ChiComs allow the kind of transparency required for it to happen. The Euro isn't because, well, Greece.

brickboy240
04-05-2012, 10:40
Many countries are already making plans to buy/sell crude oil, between themselves and not use the USD.

That is huge and once most of the world stops using the USD to buy crude oil....we are in serious trouble.

Again...do some research...this is already happening. Big media is largely ignoring it, too.

- brickboy240

Goaltender66
04-05-2012, 10:46
Many countries are already making plans to buy/sell crude oil, between themselves and not use the USD.

That is huge and once most of the world stops using the USD to buy crude oil....we are in serious trouble.

Again...do some research...this is already happening. Big media is largely ignoring it, too.

- brickboy240

I have done research. The reality is the abandonment of the USD as the world's reserve currency isn't in the cards for quite some time yet. There's simply no other efficient or workable alternative in the wings.

ETA: Inre oil contracts, I wonder how much of that is due to arbitrage and not with actually losing faith in the USD?

brickboy240
04-05-2012, 11:11
Even if the USD does not lose its reserve status...it will continue to lose value and that is a HUGE problem for us and our standard of living.

Everyone is blaming the high gas prices on Iran or some other boogeyman when in reality...our fiscal policy is to blame.

Inflation is here...even if big media is ignoring it and downplaying how bad the economy really is. The world IS losing faith in the USD...another thing that big media largely ignores because the shooting of a black kid or Charlie Sheen is more interesting to most people.

There is no country on the face of this earth that has ever de-valued it's currency in this manner and taken on this kind o debt and come roaring back without a crash of some sort.

But to mention this gets you branded as a gloom and doom kook...so everyone go back to playing X-box and watching baseball....everything is ok! The recovery is coming. LOL

- brickboy240

Goaltender66
04-05-2012, 11:19
Even if the USD does not lose its reserve status...it will continue to lose value and that is a HUGE problem for us and our standard of living.

Everyone is blaming the high gas prices on Iran or some other boogeyman when in reality...our fiscal policy is to blame.

Inflation is here...even if big media is ignoring it and downplaying how bad the economy really is. The world IS losing faith in the USD...another thing that big media largely ignores because the shooting of a black kid or Charlie Sheen is more interesting to most people.

There is no country on the face of this earth that has ever de-valued it's currency in this manner and taken on this kind o debt and come roaring back without a crash of some sort.

But to mention this gets you branded as a gloom and doom kook...so everyone go back to playing X-box and watching baseball....everything is ok! The recovery is coming. LOL

- brickboy240

Well, there's that and it's not an unreasonable opinion. :) I'm looking at the minutes from the last Fed meeting and they declined to increase liquidity, which of course sent the stock market into decline. But I'm thinking at this point the Fed and the main banks are now realizing you can only push a string so much and monetary policy can't compensate for reckless fiscal policy forever. I find that somewhat encouraging, actually.

I agree that we've reached the limit of what monetary policy can accomplish in our situation and at root we need a fiscal solution.

However, I refuse to feel horrible that I find the antics of Charlie Sheen much more amusing than reading about the Fed's open market operations. ;)