The U.S. economy is headed...
Out of context: Reply #2
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- TheBlueOne0
Look, it sucks and is stupid, but we've been here before as a debt % of GDP, probably last time around 1953-ish. We'll get out of it, and quite frankly, as much as I do rag on the general shortsighted economic policies of the US, we're still in far better long term shape than Europe and China. As strong as the Euro is, it's still not the world's reserve currency, and it has no centralized fiscal policy. China has a host of problems - which in a recession/depression era it might not even survive. We'll see. The same problems that have plagues OPEC for years will continue - shuttered culture, no manufacturing, a single product based economy etc.
Trust me, with some tweaking we can get America righted again. And don't let the free market morons tell you otherwise, but the US needs to bring some manufacturing home and get a bit of protectionism going....but we'll see...and we need to bring military expenditures way down...and rebuild our infrastructure and technology sectors. But we have the reserve currency, centralized fiscal policy, a growing young educated population (thanks to immigration)...we'll be ok if we're smart..