We have to admit that the results from last week’s Friday poll did not surprise us. For months, We have been hearing plenty of pessimism from pundits, our readers and the voters. What we did not expect was how bad the collective prognosis really is.
Here is the graphic of the poll results:
Looking at the numbers, almost 34% believe the US is heading in the wrong direction but even more shocking is that 48% polled believe we are heading for catastrophe!
Almost 82% of our readers believe we’re in deep trouble!
We’d love to hear your continued comments about the poll as well as where you think we’re heading.
As we close out this poll, perhaps this YouTube video by Paul Revere 2012, captures the sentiment of Americans:
America is the world’s reserve currency.
Goods and services are traded in dollars.
This allows us to buy stuff from overseas in dollars.
Dollars have value because people have always thought they have value.
The Federal Reserve is now creating many millions of dollars out of thin air.
The rest of the world understands, now, that debts denominated in US dollars can be paid with inflated currency that was willed into existance by the Federal Reserve.
Dollars therefore have less value.
Brazil, Russia, India and China all understand that contining to honor the USD has no net benefit for them any more, and they are exchanging goods from their citizens (in China and India’s cases) for dollars which are magically spun into existance.
They don’t like it, and therefore are determined to stop the use of the USD as the world’s reserve currency.
A couple of months ago, India made overtures to OPEC to use gold instead of dollars to buy oil.
A few weeks ago, the BRICS countries mentioned above (the fastest growing economies) made a quiet agreeement to start extending credit to each other in currencies other than USD.
The process of dumping the dollar is underway.
We have gutted our manufacturing base, and can’t make a lot of stuff we need any more.
The government is blatantly lying about inflation and unemployment, continually changing the methods economic indicators are computed with, so as to make things look better than they are.
25% of every dollar being spent by the government now is borrowed, and that number is increasing.
In short: We Are Screwed.
There is still time to save our nation. However, the time is getting short. The longer it takes for true, decisive action to be taken, the harder the crash will be.
There is still
Steve,
If the US didn’t have 92% national debt burden vs. GDP and were we not printing money by the trillions, the BRICs would be a non issue.
So it comes back to spending.
EVERYTHING NEEDS TO BE CUT, including Dept Defense and overseas military expedition spending.
EVERYTHING.
You are correct.
The question is, does our Congress have the courage to not only do what needs to be done, but also override a Presidential Veto?
I doubt it. Even the Republican House is not talking about the true scope of the cuts that need to be done. And getting them past the Senate? Couple that with the fact that I believe we have a “president” who truly wants to see America’s stature reduced, and who most likely dreams of an America that has taken “its proper place in the world” – subservient to all other nations.
So, with that in mind, can anything really get done prior to January 20, 2013? Unlikely. Possible, just barely possible, but very unlikely. Will our time be up by then? Tough to say. But it’s certainly reason to worry about the future.
Earthquakes, floods, tornados… Im just sayin.
The US economic position is almost cornered to to where there is no way out, at least no way out without painful consequences. Major dilemma is that I hear many conservatives through military spending into the mix of absolutely necessary cuts. At a time when our economic interests are strained in the world market we are uniquely vulnerable to disruption by war.
Remember – all wars are caused by a scramble for resources – so now when other world powers (our enemies?) are positioning to take advantage of our economic crisis, they are also quietly considering when the time is right to make a military move and move us off the map not only as the premier economic power but as the worlds strongest military power.
You guys advocating cuts in military are setting us up for another Pearl Harbor. Im not saying we cant be thrift with military spending, but beware of cutting systems and resources that would be needed in large scale conflict. We have been lulled into thinking that we can be defended by a Seal team, and that is really dangerous when the Chinese have as many tanks as we have soldiers.
You don’t get it. Your options are to continue spending at current levels and default on debt or have crazy inflation or interest rates that kill the economy, OR CUT EVERYTHING ACROSS THE BOARD.
There is no third option. And the “continue spending” option means an economy far, far worse than the 70s and early 80s.
Those are the choices.
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Fred says:
May 7, 2011 at 8:42 am
You guys advocating cuts in military are setting us up for another Pearl Harbor. Im not saying we cant be thrift with military spending, but beware of cutting systems and resources that would be needed in large scale conflict.
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Despite the fantasy scenarios of the Left, some things never change and that up there pretty much summarizes it. Tax payer dollars are going to unions and THAT travesty somehow can’t be cut 100%, as the USG buys up corporations like GM and THAT can’t somehow can’t be 100% cut, but the ONLY thing that is mentioned first is the military shouldn’t be exempt and … it hasn’t been. How much so-called bailouts were cut while military budgets were cut? An all-volunteer military is a smaller, more efficiently run department that delivers results — yet the Dept of Education behemoth costs taxpayers not only tax money, but a sea change in the quality of education of the next generation that this nation will pay even MORE dearly across all sectors in the future in an incompetent population failing to perform work to acceptable standards. ObamaCare has thrown the entire medical profession into disarry – and the USA had the WORLD FINEST MEDICAL CARE, DELIVERED TO MORE PEOPLE, BAR NONE.
Freddie Mac and Sallie Mae have eaten taxpayer money, for what? Cheap rates created a housing price bubble that popped, now foreclosures are STILL on the rise. The parastatals somehow can’t be cut 100% even though their top executives get pay packages that aren’t tied to performance. Why NOT? Greed rules in this government-connected New World, not private enterprise and fair competition.
Our future’s so bright, we’ve got to wear shades
Maybe if we say God Bless American 100 times each, things will change for the better?
I hear if you say it 100 times looking into the mirror the ghost of Prescott Walker Bush will appear