Do you think America will fall into an economic failure?

Question

If you do, why and when?

If you don't, why not?

I personally think it will. I don't know actual figures from Washington and I'm definitely not on the inside, but the way our economy is functioning today, even the least politically/financially intelligent person can see the signs (if they look).

If you do think we're headed for one, do you think there's any way we can fix it? If so, what are your suggestions?

Answer 1

Yes we are headed. It's easy to figured that out. If you charge to much in your credit card it will come a time that you would be able to pay just for the interest and if you continue charging things to it eventually you won't be able to pay for it at all. That's when the credit card company starts calling you. We are about to receive that call as a country, this would be the worst depression ever recorded.
Raise payments, cut spending, pay the dept and brake the credit card. Too easy. In other words raise taxes, cut spending, pay the dept and get rid of the Federal Reserve.

Answer 2

The Iraq war is not being paid for so we have put the entire thing on the National Credit Card and your grandchildren will still be paying it off (with interest, and the rates are going up) for at least 30 years after the war is over. Yes, we can fix it. We know where all the money went. All we have to do it tax the oil companies like we should have and make them pay for their war, unstead of the American people. But Neo-Cons tell you that is "socialism"... but the truth is that what the Oil companies did to the citizens of the USA is worse than socialism, it is murder/plunder/greed/etc.

Answer 3

I am afraid that it will. Some think it can be fixed and I hope it's true. Here's a couple of links for you to ponder. I am no expert, just starting to see we could be in real trouble. So many are unaware of the problems, I worry that not enough can be done soon enough. Defeating the amnesty bill was a step in the right direction. Now if people could see the rest of the story.

http://www.businessweek.com/magazine/content/06_47/b4010001.htm?chan=rss_topStories_ssi_5

http://www.eagleforum.org/column/2006/dec06/06-12-13.html

Answer 4

yes. it will happen just because of economics. what goes up must come down and it is the same way with economics. they economy will drop. the only unknown is how bad it will be. as for when it will probably happen after people lose confidence in gas. people will sell stock rapidly and the economy will crash

Answer 5

Eventually.

Economics goes in cycles. We've had up markets, down markets and fluctuating markets. Eventually, there will be a downswing that the safeguards can not prevent. Then it will be the next Great Depression.

Doc

Answer 6

Look at world history. No one remains at the top forever. From time to time new nations will rise. Or the world will progress towards one world government. It's happening already. No nation is just free to do whatever it wants.

Answer 7

Yes, it already has in some ways. I am just waiting for it to get worse. Americans are greedy. They want more for the cheapest price, there is no balance here.

If you could, try watching 60 Minutes this week. There is just this topic.

Answer 8

It won't ,because we are the number one market. If the usa economy suffers the rest of the world will be worst off.

Answer 9

I do not think so, the rest of the world is too Dependant on us. The world is too much of a global economy now. If one falls all will fall.

Answer 10

Its only logical that if we stay on our current track it will crash....we have run trade deficits for decades.......our government borrows money to operate....we havent addressed our social security problem....eventually our currency which is based on nothing more than faith will crumble..........as a country we are spending beyond our means and our kids and grandkids will be hit with the bill.....