Author Topic: DOOM  (Read 2651 times)

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Offline trapeze

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DOOM
« on: March 09, 2011, 09:05:23 PM »
I tried to think of a better title than the one that AceOfSpades is running (and they aren't using this one but the word appears in it) but the word, "DOOM" pretty much sums it up.

The linked NRO article pretty much spells out what a debt spiral looks like and that we are already in it and that there is no way out.

To top it off, the guy in the NRO article, Bill Gross, who runs the world's biggest bond fund is currently headlining on Drudge because he is dumping all of the fund's US debt.

From the NRO article, the last paragraph:

[blockquote]The result:

[blockquote]Under all three scenarios, interest costs would be higher than CBO estimated in its January baseline projections (see Table 2). The effects would be minimal for 2011. Between 2012 and 2021, though, interest payments under scenarios 1 and 3 would be about $1.1 trillion and $1.2 trillion higher, respectively, and under scenario 2, interest payments would be $5.4 trillion higher. The cumulative deficit and debt held by the public at the end of the 10-year period would rise by similar amounts. A small portion of the additional interest payments would be offset in most years by larger remittances by the Federal Reserve System on its earnings from holding Treasury securities, which are shown as added revenues in Table 2. The estimates in Table 2 do not account for possible effects on the deficit and debt of other differences in economic conditions that might accompany higher interest rates.[/blockquote]

The last sentence is important, because it basically says that these projections, which show an explosion in the amount of money needed to service our debt, underestimate the problem, since any decrease in economic growth resulting from higher interest rates — or any other cause — is not accounted for. Bottom line: This could be really bad.[/blockquote]


In a doomsday scenario, hippies will be among the first casualties. So not everything about doomsday will be bad.

Online Pandora

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Re: DOOM
« Reply #1 on: March 09, 2011, 10:08:20 PM »
That sucking sound you hear is all wealth going right down the crapper.

These assholes, R and D alike, need to be reined in NOW; no pussyfootin' around, no graduated cuts, no soft-soaping.  Some BODY with the brains God gave him/her and the skills of a diplomat needs to get out in front and lay the scenario out with a plan, albeit austere, for getting us on the right footing or it will be DOOM.

Just an O.T. note:  Freeze-dried food orders are running three weeks behind.  That's very bad.
"Under certain circumstances, profanity provides a relief denied even to prayer." - Mark Twain

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Offline trapeze

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Re: DOOM
« Reply #2 on: March 09, 2011, 10:56:43 PM »
I have been buying some basic stuff...rice, flour, cooking oil, canned goods, etc. Nothing weird or unusual but easy to store stuff that will eventually get used even if the worst never comes. I also have several thousand rounds of ammunition.

I honestly believe, though, that skills are as important (and bankable) as food and weapons. Being able to do things that most people can't is a very valuable commodity in an economy where money is worth little to nothing.

I'm guessing that there will be more than a few liberal arts majors who will be on the short end of the stick in a barter economy.
In a doomsday scenario, hippies will be among the first casualties. So not everything about doomsday will be bad.

charlesoakwood

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Re: DOOM
« Reply #3 on: March 09, 2011, 11:01:10 PM »

Needs to be more than one body.  Ryan and Bachmann are pushing hard.


Online Pandora

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Re: DOOM
« Reply #4 on: March 09, 2011, 11:03:27 PM »
I have been buying some basic stuff...rice, flour, cooking oil, canned goods, etc. Nothing weird or unusual but easy to store stuff that will eventually get used even if the worst never comes. I also have several thousand rounds of ammunition.

I honestly believe, though, that skills are as important (and bankable) as food and weapons. Being able to do things that most people can't is a very valuable commodity in an economy where money is worth little to nothing.

I'm guessing that there will be more than a few liberal arts majors who will be on the short end of the stick in a barter economy.

I'm guessing you're right about that.  Stoop labor, then, for them.

Between Gunsmith and I, we've multiple skills useful for trading, but gardening has so far eluded our best efforts.  We'll try again soon, raised beds and all.  That's the one thing that worries me, not being able to grow our own food.
"Under certain circumstances, profanity provides a relief denied even to prayer." - Mark Twain

"Let us assume for the moment everything you say about me is true. That just makes your problem bigger, doesn't it?"

Offline John Florida

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Re: DOOM
« Reply #5 on: March 09, 2011, 11:41:28 PM »
I have been buying some basic stuff...rice, flour, cooking oil, canned goods, etc. Nothing weird or unusual but easy to store stuff that will eventually get used even if the worst never comes. I also have several thousand rounds of ammunition.

I honestly believe, though, that skills are as important (and bankable) as food and weapons. Being able to do things that most people can't is a very valuable commodity in an economy where money is worth little to nothing.

I'm guessing that there will be more than a few liberal arts majors who will be on the short end of the stick in a barter economy.

I'm guessing you're right about that.  Stoop labor, then, for them.

Between Gunsmith and I, we've multiple skills useful for trading, but gardening has so far eluded our best efforts.  We'll try again soon, raised beds and all.  That's the one thing that worries me, not being able to grow our own food.

 Call me and I'll get you fed no problem. Gardening isn't a mystery it's all in the prep.
All men are created equal"
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Online Pandora

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Re: DOOM
« Reply #6 on: March 09, 2011, 11:46:03 PM »
I have been buying some basic stuff...rice, flour, cooking oil, canned goods, etc. Nothing weird or unusual but easy to store stuff that will eventually get used even if the worst never comes. I also have several thousand rounds of ammunition.

I honestly believe, though, that skills are as important (and bankable) as food and weapons. Being able to do things that most people can't is a very valuable commodity in an economy where money is worth little to nothing.

I'm guessing that there will be more than a few liberal arts majors who will be on the short end of the stick in a barter economy.

I'm guessing you're right about that.  Stoop labor, then, for them.

Between Gunsmith and I, we've multiple skills useful for trading, but gardening has so far eluded our best efforts.  We'll try again soon, raised beds and all.  That's the one thing that worries me, not being able to grow our own food.

 Call me and I'll get you fed no problem. Gardening isn't a mystery it's all in the prep.

I'll be doing that then, and soon.  It's prep time, planting soon to follow.
"Under certain circumstances, profanity provides a relief denied even to prayer." - Mark Twain

"Let us assume for the moment everything you say about me is true. That just makes your problem bigger, doesn't it?"

Offline John Florida

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Re: DOOM
« Reply #7 on: March 10, 2011, 12:03:56 AM »
I have been buying some basic stuff...rice, flour, cooking oil, canned goods, etc. Nothing weird or unusual but easy to store stuff that will eventually get used even if the worst never comes. I also have several thousand rounds of ammunition.

I honestly believe, though, that skills are as important (and bankable) as food and weapons. Being able to do things that most people can't is a very valuable commodity in an economy where money is worth little to nothing.

I'm guessing that there will be more than a few liberal arts majors who will be on the short end of the stick in a barter economy.

 

I'm guessing you're right about that.  Stoop labor, then, for them.

Between Gunsmith and I, we've multiple skills useful for trading, but gardening has so far eluded our best efforts.  We'll try again soon, raised beds and all.  That's the one thing that worries me, not being able to grow our own food.

 Call me and I'll get you fed no problem. Gardening isn't a mystery it's all in the prep.

I'll be doing that then, and soon.  It's prep time, planting soon to follow.


 No problem!!Better sooner than later.
All men are created equal"
 Filippo Mazzie

Offline Libertas

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Re: DOOM
« Reply #8 on: March 10, 2011, 07:16:37 AM »
I've avoided investing on gov't paper years ago.  And as these pathetic votes in the Senate show, there is no serious effort being made to reign in debt, and interest on the existing load is going to take a huge bite out of budgets...

DOOM sounds just about as apt a description as any...

Galt time coming soon?

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We are now where The Founders were when they faced despotism.