This Article was written in April, but so dumb I still felt I had to share..
Anyway, here's 10 reasons why the U.S. economy, and the dollar, won't collapse:
1.The U.S. debt, though high, won't cause a collapse. Unlike Greece, the U.S. prints its own money.
2.The U.S. could possibly run a much higher debt to GDP ratio than it does now and still not face economic collapse.
3.Obama Added to the Debt to get us out of recession, not send us toward collapse.
4.The U.S. won't Default on Its Debt.
5.China Isn't Selling Its Dollar Holdings.
6.China and Japan won't cause a Dollar Collapse.
7.The Dollar Is Slowly Declining, not collapsing.
8.The dollar won't be replaced as the World's Global Currency.
9.The Fed's Quantitative Easing program can't cause Hyperinflation.
10.There are too many failsafe measures that will prevent a U.S. Economic Collapse
The list at the link has links to further reading which they <think> proves their point
#1, and #4 are the same. We can print money till its worth as much as toilet paper, so everything is fine
#2: We have the reserve currency so that allows us to export inflation to other countries ( Hooray)
#3: And now we are Trillions more in debt, reall unemployment is at 11% and workforce particaption is at 1979 levels. Yep, they worked really, really well.
#5:
China isn't buying as much either - and
and deals are being made with what they already own. But just because everyone is in a race to the bottom doesn't mean its a good thing. See point #2 - they have dollars because that is what we pay them with, and they have to do something with them.. total chinese US Treasury holdings have been falling..
#6: Their own link admits they could, but they just won't because we are their only market-- which of cours eis drying up because our economy sucks and its getting worse.
#7. Because a collapse means overnight, where as a decline can take years. You still end up with money that is worthless, but you see, it doesn't have to be sudden so thats okay.
#8 : Because we are just going to ignore all of the trade deals where the dollar IS in fact being replaced, and the fact the Federal reserve is buying 70% of its own debt issues.
#9: We can't hyperinflate because the Fed, with its magical beans an unicorns is charged with making sure we don't. Seriously That is thier argument. The fed could always contract money supply by raising the intrest rate.. which the 17 Trillion in debt is tied to.. see the money supply contracts - while the Government monetizes to pay the interest.
#10: Because we will just call a bank holiday and you can't ever get your money out ot he bank - but you still have it you see.
Morons.
