usa default - your thoughts?

  1. 19 Posts.
    this is one of a few messages that i will try to compose. it will be of very general nature-reliance on common sense if there is any left in this world. i'm more interested in your opinion. i'm not trying to prove who is right or who is wrong. just trying to write down the thoughts that from time to time really bother me. all i aim for is to see the 'reaction'. i went out last night with a few people in high positions within quantitive divisons of various i-banks. i studied commerce/business/real estate - currently studying law but working in a very simple job, because i actually love what i do. i lived in usa, eu, now australia and i speak quite a few languages. anyhow.
    the conversation we had was about general macroeconomic view on a global scale. all of quants agreed that USA will eventually default-give it another few years. there is no other choice. i think our society is so blinded by 'unnecessary wants and needs' and the commonly accepted doctrine of 'immediate availability' to whatever it might relate: be it a purchase of a new car, new tv or a start of a major project by a construction company. regardless whether it's feasible or/and realistic. the consequence of this behaviour can be clearly seen now: ireland, greece, spain, portugal are all on the very brink of a collapse. recently in an article in german newspaper a few greek mps said that there is absolutely no way that their country will be able to pay even 50% back. it's the beginning of a new type of warfare for power: socio-economic. usa is bankrupt as well. now. it's there black and white. the view last night was that usa will have to partially default, china will lose a few hundred billion, there will be a big shock as media will as always create a hype and then things will go back to normal after a few years. i'm not talking about usa related (republican) cpi talk and what it actually means in accounting terms. the actual question is: will our behaviour change as a consequence of a very big upcoming shock? it's a shame how humanity is living in debt, spending all the money they don't have on things they don't need while fellow humans die of famine etc. i'm 31 yrs old for your info but the predominant picture of this 'developing' world makes me sick. not for a second do i think that humans in developed countries are becoming more intelligent. in contrast, my view is that our degeneration is accelerating every year. the scariest thing is when you talk to younger generations and you see how confident they are. unbelievable. confidence based on absolutely nothing. as for australia: i can't believe there is still talk about carbon tax here and whether property market is in decline or not? have you guys been in countries such as germany, ch, austria, france etc? or any other 'developed' countries (not usa - usa is UNDERdeveloped)? i have been living in sydney for over 5 yrs now and basic things like infrastructure, public hospitals, public education, quality of housing construction etc. is second class to say it gently. no sorry. quality of housing contruction and infrastructure over here is an absolute shame. i can't believe australians just suck it up and continue without any demonstrations. if we were in france we would have witnessed at least 5 HUGE public demos over the past year alone in relation to broader policies. australian economy is only based on mindless diggin' and flippin' properties. properties in this country will not rise forever. this country would be degraded to the lower end of 2nd world if it wasn't for resources-in comparison to say germany (country which has no natural resources at all). anyway...i guess the broader global population has become so ridiculously dumb that a major crisis will be delayed until the last dumbass realises what "writing off bad debt" means. black and white. no more compromise. iphone 5 is coming out soon. i really need it. will get a loan and buy one. cheers. ps: media really controls the mind - thank god i LIVED by not having a tv for the past 10 years. goodnight.
 
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