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SgtJoo
11 Oct 2010, 12:30pm
Some sixty percent of the world's economies will be so in debt by 2060 that their debt will be downgraded to "junk" status, effectively bankrupting the countries, says a report from Standard & Poor's ratings agency, which also warns that attempts to deal with the problem could cause social instability.

US will have a debt of 415% of GDP by 2050

http://www.rawstory.com/rs/2010/10/sp-60-countries-bankrupt-50-years/

Scary thoughts.

Metal
11 Oct 2010, 12:46pm
Buy money printers.

Delirium
11 Oct 2010, 12:56pm
Everyone besides Israel?

Oh shit, I forgot this is the politics section and I actually have to put thought behind my post.

Eventually the global economy is going to collapse and revert to a gold or silver standard.

Drox
11 Oct 2010, 01:01pm
I think by 2060 we would have a new currency by then. Like a world wide currency.

Ronen
11 Oct 2010, 01:07pm
I think that by 2050 I will have my own private island including many beautiful women unlimited gasoline to fuel my Ferrari's and unlimited food and water...So I don't care...

Prez
11 Oct 2010, 01:18pm
It's definitely not out of the realm of possibility. Although by then, like others have said, we'd probably revert to a global currency or some other trading/bartering system. But who cares eh? No one's going to be alive by 2012 anyways, right?












Right?

tacosndew
11 Oct 2010, 01:43pm
Buy money printers.

this ^

oh and I blame socialism, soooo there's the generalization for the day. :)

Kiwi
11 Oct 2010, 01:59pm
It's definitely not out of the realm of possibility. Although by then, like others have said, we'd probably revert to a global currency or some other trading/bartering system.

Global blue anyone?

SgtJoo
11 Oct 2010, 02:00pm
Buy money printers.

I forgot inflation was a figment of my imagination.

Drox
11 Oct 2010, 02:02pm
this ^

oh and I blame socialism, soooo there's the generalization for the day. :)

Blame socialism even though its the free markets fault why shit is whack. :P

Simmons1114
11 Oct 2010, 02:55pm
coca cola is made of PEOPLE!!!!!!!!!!!!

or it will be when we run out of cocaine

also wheresoever doth dwell thine most precious lulz

tacosndew
11 Oct 2010, 06:21pm
Blame socialism even though its the free markets fault why shit is whack. :P

Blame living beyond one's means!

Drox
11 Oct 2010, 06:41pm
Blame living beyond one's means!

Whats that have to do with socialism lol yea people being alittle too greedy is why it happen but also because no one gave a shit till it was too late.

Shadowex3
11 Oct 2010, 08:00pm
I think by 2060 we would have a new currency by then. Like a world wide currency.

Or we'll have transitioned further towards a post-scarcity economy that it starts becoming redundant in some places.

matt 187
11 Oct 2010, 10:04pm
2060 Bankrupt? I thought we where already bankrupt :confused1:

Slavic
12 Oct 2010, 04:47pm
You do know that in a Free Market the governments would have no need to borrow money or go into debt because just about all of the expenses would go into the private sectors hand.

Socialist practices of bailing out failing companies and creating money hemorrhaging institutions such as medical and social welfare drive up the debt.

But yea no screw rich capitalist and their free money woo go planned economy.

Snitch&Death
12 Oct 2010, 05:22pm
People buying damn useless mac books our problem D:

Shadowex3
12 Oct 2010, 05:52pm
You do know that in a Free Market the governments would have no need to borrow money or go into debt because just about all of the expenses would go into the private sectors hand.

Socialist practices of bailing out failing companies and creating money hemorrhaging institutions such as medical and social welfare drive up the debt.

But yea no screw rich capitalist and their free money woo go planned economy.

Uh we tried that once already, it was called history and it wound up giving us the great depression. Unrestrained "free markets" had their chance, they blew it. The "Free Market" inevitably produces exactly the opposite: a monopoly with as much concentration of wealth, income, and power as possible in as small an area as possible using all of the above to make sure everyone else has as little as possible.

SchmoSalt
13 Oct 2010, 09:54pm
You do know that in a Free Market the governments would have no need to borrow money or go into debt because just about all of the expenses would go into the private sectors hand.

Socialist practices of bailing out failing companies and creating money hemorrhaging institutions such as medical and social welfare drive up the debt.

But yea no screw rich capitalist and their free money woo go planned economy.

Exactly.

I'm not going to be left with the bill for the government's mistakes. If the government starts trying to tax us half to death I will be leaving. I don't need the government stealing money from me (taxes).

Social Security was one of the worst bills passed in the 20th century. Why should the government have a say in what I do with part of my money? I should have the freedom to either become successful or fail. I shouldn't have the government watching my back. It's a bill that runs off of theft, pure and simple.

Now we will be taxed more for healthcare? Now in the future I will have to pay for someone else's insurance in addition to my own PPO. Why the fuck do I have to give my money to someone else? It's my money, I earned it, why should someone else that doesn't deserve healthcare steal it?

Because of all of this theft going on I will never donate to charity. I will only donate if the tax incentives outweigh the donation.

TL;DR
All of these welfare, social security, and healthcare bills are theft. It is not charity when someone steals your money and gives it to someone else.

PotshotPolka
13 Oct 2010, 10:52pm
TL;DR
All of these welfare, social security, and healthcare bills are theft. It is not charity when someone steals your money and gives it to someone else.

http://en.wikipedia.org/wiki/Monopoly_on_violence


hurr derp.

SchmoSalt
13 Oct 2010, 11:51pm
http://en.wikipedia.org/wiki/Monopoly_on_violence


hurr derp.

A byproduct of Fascism?

An eventual byproduct of Communism?

PotshotPolka
14 Oct 2010, 09:42am
A byproduct of Fascism?

An eventual byproduct of Communism?

No, it's what legitimates every government to tax its citizens.

trakaill
14 Oct 2010, 03:27pm
Uh we tried that once already, it was called history and it wound up giving us the great depression. Unrestrained "free markets" had their chance, they blew it. The "Free Market" inevitably produces exactly the opposite: a monopoly with as much concentration of wealth, income, and power as possible in as small an area as possible using all of the above to make sure everyone else has as little as possible.

the US's "free" market has been partially regulated by the government, since then and the country has been doing fairly well.. its fair to say

Im no longer studying all this so I not as knowledgeable as some of you but it seems that some european countries using the socialism you speak of are in the same crap boat as the US
People are chocked and astonished by the unemployment levels nowadays but socialist countries have the same level in a good economy..

Seem that over a long period of time the US and their "free" market have been doing good..

Shadowex3
14 Oct 2010, 08:56pm
So it's not fair to compare america to a european country as an example of what america is doing worse in, but it is fair to compare america to a european country as an example that america is better? Right, got it.

Lucid
14 Oct 2010, 10:15pm
By then weed will be legal so who cares,

Lux
15 Oct 2010, 05:44am
I think by 2060 we would have a new currency by then. Like a world wide currency.

Unlikely.....why do you think we keep the Pound over the Euro?..

----------------

Either way by 2060 I'll be 68 so oh well.

c0bra067
15 Oct 2010, 07:35pm
Doubt this shit is going to happen. All of the data tested in this study, and many 'thriller / audience grabbing stories' like it, ignore any change and is strictly based off current and past trends. Saying this data is true is the equivalent of saying in 1870 that every single native american would be dead by 1930. On top of that, federal funding (for most governments) is strangely similar to that of the banks that failed... Almost to the point that they rely on over-night funding to survive (aka if the investors turned off the tap tomorrow the entity would be starved of capital), as we saw this summer with Greece. Their funding stopped because there were scares that the country would roll over its debts and go bankrupt, and like Lehman Brothers and Bear Sterns, they attempted to reassure everyone (for a while, that is) that they were fine and to invest, because without investments they were fucked. Anyways, with this and inflation governments are able to keep the trend going, as long as there isn't a funding scare, hence the bank failures and the possible European P.I.G / currency crash. So making gross assumptions about current trends, this is possible, but after anyone actually puts any thought into it, its not very probable. By no means am I saying shit doesn't need to change, but the current debt is rising due to a multitude of reasons, including the national stimulus package, and obviously that isn't going to be in effect for 50 more years... If it does, we have bigger problems than this shit, and like I said, the best economists can't even predict 50 days into the future, never mind 50 months or 50 YEARS.

And yeah, how the fuck did this topic change to anti-socialism this and blah blah fuck that... Honestly, to say that Capitalism isn't the best working economic model AT THE MOMENT just stresses: 1. An ignorance to the truth because you're photocopying what mommy and daddy said and you're spitting it back out, 2. Education isn't your thing, or 3. You're a hipster. Capitalism isn't the best, because the best hasn't been created yet. Capitalism has some serious flaws in it, but compared to Socialism and Communism... Well... There isn't much to compare against. Utopian societies don't work... They never do...

Kaos
15 Oct 2010, 09:22pm
Including the $6 trillion USA owes Japan?

PotshotPolka
16 Oct 2010, 08:30am
Including the $6 trillion USA owes Japan?

And you read that where...? Because foreign debt doesn't exceed 2-3 trillion, and of that the largest share anyone has is China.

SgtJoo
16 Oct 2010, 02:30pm
And you read that where...? Because foreign debt doesn't exceed 2-3 trillion, and of that the largest share anyone has is China.

http://english.aljazeera.net/business/2010/02/201021743521113498.html

?

PotshotPolka
16 Oct 2010, 03:30pm
http://english.aljazeera.net/business/2010/02/201021743521113498.html

?

So I'm off by 10 billion? Point being?

SgtJoo
16 Oct 2010, 05:17pm
So I'm off by 10 billion? Point being?

Not refuting your point...

PotshotPolka
26 Jan 2011, 01:12pm
Bump

Is all I saw.

Bad Dog
26 Jan 2011, 03:32pm
Is all I saw.

Then you missed a laughably bad post.

cakeshark
27 Jan 2011, 08:12pm
i dont see how this is relevant, we all know the world is gonna end in 2012.

Matt
27 Jan 2011, 08:14pm
i dont see how this is relevant, we all know the world is gonna end in 2012.

Prove it

cakeshark
27 Jan 2011, 08:24pm
Prove it

your worthless response to my worthless post devalued it so badly, america had to file chapter 9

Shadowex3
29 Jan 2011, 01:57am
Why would you ever think necroposting a thread from last year is a good idea?!

http://i56.tinypic.com/2nvgmpz.jpg

Nishok
30 Jan 2011, 06:01pm
This is only assumption and presumption...I can't buy this argument and money is very liquid thing.One can not take a so long future view.moral of this story is : If you use more than you earn you go broke. If you can not protect yourself from your enemies you are done.

Ohai Mr.Bot.

jeN
30 Jan 2011, 07:04pm
Is all I saw.

Clearly missed the link in it's signature then

MattShadows
2 Feb 2011, 11:58am
In 2060 we will be like 50-70 years old, why should we care?

PotshotPolka
3 Feb 2011, 08:41pm
In 2060 we will be like 50-70 years old, why should we care?

......Because pensioners living on a fixed income are the most effected by changes in economic climate?

SgtJoo
3 Feb 2011, 08:59pm
......Because pensioners living on a fixed income are the most effected by changes in economic climate?

President Palin will be in her 40th consecutive year by then, we won't have to worry about that.

c0bra067
5 Feb 2011, 07:47pm
In 2060 we will be like 50-70 years old, why should we care?

imagine if your grandparents had that same attitude

A. Wesker
6 Feb 2011, 08:12am
we won't be alive in 2060,zombie apocalypse is mid 2012,right before the solar flares burn us all!:rant:

dwightj
5 Mar 2011, 03:28am
It is indeed a scary thought if there will be bankruptcy in the year 2060. Judging from the economic rate, it is not far from happening, Poverty will worsen and ecological problems will take its toll if we do not act and do something now future generations will definitely suffer. It takes small actions from ordinary people to make a change that is why we should do our part in saving the world!

Crazy Swede
11 Mar 2011, 09:47pm
Meh! Will move to my neighbour country, Norway. They are debt free :)

HZK
12 Mar 2011, 08:33am
By 2060 we can move to the moon with rocks for resources! :thumb:

Trashed
12 Mar 2011, 09:07am
By 2060 we can move to the moon with rocks for resources! :thumb:

jPPgNqQJrGk

HZK
13 Mar 2011, 06:37am
That was the idea...

Frostbyte
14 Mar 2011, 04:30am
Everyone besides Israel?

Oh shit, I forgot this is the politics section and I actually have to put thought behind my post.

Eventually the global economy is going to collapse and revert to a gold or silver standard.

HARD MONEY VS SOFT MONEY


....bro

I'm sure we'll see the global economy suffer withdrawals once the oil runs out and the whaling industry corners the global market.

Stompy Moose
17 Jul 2011, 01:15am
The US Government will have no money in about 20 days if they don't get their shit together

PotshotPolka
17 Jul 2011, 01:28am
Actually bump worthy, lol.

I think they'll settle the debt ceiling, the Republicans revised their "no taxes" stance to "no taxes unless", so that means compromise can squeeze in between the rhetoric.

Epsilon
17 Jul 2011, 07:31am
we won't be alive in 2060,zombie apocalypse is mid 2012,right before the solar flares burn us all!:rant:

Solar Flares occur all the time (they are responsible for the aurora borealis)
Although I'm with you on the zombie apocalypse perhaps just not the year it will occur

Hallow
17 Jul 2011, 11:34am
HARD MONEY VS SOFT MONEY


....bro

I'm sure we'll see the global economy suffer withdrawals once the oil runs out and the whaling industry corners the global market.

The whaling industry wont come back, there isn't a point. The number of harvestable whales for things other than meat is very limited.

Epsilon
20 Jul 2011, 06:48pm
Not strictly true, the aurora borealis is spallation fragmentation caused by solar wind, not solar flares.

(Flares are much more energetic and less frequent).

While similar, rather than a pretty light show a solar flare can range from being a bit annoying to potentially deadly (for astronauts, at least).

Tbh something more worthy of worrying about would be the stray meteorite that manages to strike the Earth.

I never said that the aurora borealis was caused only by solar flares although it can be sometimes although perhaps it does look like I did say that though, huh?

A meteorite carrying some strange disease causing a mutations on humans? Causing bizarre mutations not like X-men but like radiation causing defects, a mindless desire for human flesh and a strong sense of cannibalism. Also allowing fresh corpses to become reanimated and have a lust for human flesh?

Spartan
20 Jul 2011, 07:34pm
Derailed thread much?

Ganzta
21 Jul 2011, 01:25pm
Derailed thread much?
bacon

A Loaf Pincher
22 Jul 2011, 07:26am
Chocolate coins ftw?

:focus:

(von dutch) delta force 8
22 Jul 2011, 05:50pm
Chocolate coins ftw?

:focus:

Dude I love those, Always used to get them for Saint Nicks

PotshotPolka
23 Jul 2011, 09:33am
Locked, this is a serious business section.