gold chat, page-259

I was driving in a place unknown and saw a group of people all hanging around with shopping bags full, money in their pockets (in the form of plastic), all with jobs paying 'loads-a-money'....all driving around in the latest american technological breakthroughs in automotive engineering, while video calling all these other lucky americanson their 'iPoops' who share in this american dream....
and ever single one of them from the moment they are born have a $50,000+ debt around their collective necks and growing rapidly.....as the debt levels are increasing faster then they can pay off the interest on this debt, as it will require GDP growth of +3%, not the 1.5% ( and slowing ) rate we have right now....
But its ok, casue as things slow down, we will just continue to swipe the credit cards and load up on more shit to make believe we are still doing OK....
because "we are americans".....(heard this from some numpty on the news hour talking of the fiscal cliff as it approaches)

and thats the problem....those who chooose to convince themselves are akin to the people living next door to teh concentration camps in germany, 'oh we never thought it was that bad, or that type of thing was going on they said... as they step over the corpses....
but one day, someone somewhere is going to ask for their money back, and one one day soon!!
that my friend is when reality sets in for the ruminating middle classes, and even they see it cant be paid and the dream is over...

So, wise up skoll. The americans have mediocre growth, which only occured as a direct result of the 5 trillion in QE.
They love all the euphoria and all the Hoopla, but they collectively they owe more then they can pay back. just like all the borrowers of subprime did and and at some point, when the debt gets called in.... (as it has in greece, as in spain and italy and ireland, portugal, belize, romania and,,, and,,, and,,,,)
The americans are going to see tey are no more imune to the europeans problems, as the Europeans were affected and could not avoid the shit storm when it started as sub prime.!!!!
you think the world economy is over that???? we put it behind us???? this will be seen as the start of the 'GFC', its is still evolving!
We are not through it, a global economy is shrinking, and debt is growing..... you might find pockets of insulated wealth if you (want to) look for it, but everywhere else it is struggle street and its GETTING WORSE, not better.
There is no discussion to be had on that... its hard fact, and any amount of anecdotal gibberish about how a handful of happy shoppers are proving americ,a and therefore by deftault, the rest of the world is going to do fine.......!!!
HOW!!!?? how is it doing fine???
Even Morgan Stanly this morning gave the US a 25% chance of slipping back into recession... i'd say its more like 75% as things outside the US bring the wheels to a halt under a groaning weight of debt, debt and more debt.....
Really skolly, you need to broaden you input data mate, you wouldnt get on a plane with a narrow band radar that only pointed in one way would you??
of course you wouldnt. as you'd would want to know what is all around you so you can be aware.
get some real world data in you mate, if you can keep up with the ticker

http://nationaldebtclocks.com/unitedstates.htm