The piper must be payed...

Posted by $ blarman 7 years, 5 months ago to Economics
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Growing debt has been a problem in other nations. I'm not sure why people think the US is immune to its effects.

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  • Posted by GaryL 7 years, 5 months ago
    I could be very wrong here but I do think it is all a bunch of hype! Based solely on my own personal financial conditions I don't pay any attention to these economist gurus. We maintain no debt in our household short of minor monthly utility bills and our only worries come from my state pension and 401 investments that certainly could take a big hit.
    I keep thinking the very day the USA defaults on it's/our debts then the rest of the world will be in a very bad place because the entire global economy revolves around the US dollar. Kind of like saying I can't lose what I never had so the effects will be felt by those with great wealth.
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  • Posted by mia767ca 7 years, 5 months ago
    we are beyond the point of no return...the collapse will set us back to the 1800's...or to a totalitarian state/world...
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  • Posted by mshupe 7 years, 5 months ago in reply to this comment.
    Yes, when economists are obsessed with the flawed GDP metric, the efficacy of government stimulus, quantitative easing, and the Fed, and ignore wealth creation, there is always cause for concern. My point is this article only makes a vague reference to exploding global debt as the catalyst for him impending recession. Right now there is no recession on the horizon, however the catalyst for one won't be known until after the fact.
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  • Posted by $ blarman 7 years, 5 months ago in reply to this comment.
    So in your opinion, the economy is doing great and our debt - both individual and institutional - aren't things to be worried about?
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  • Posted by mshupe 7 years, 5 months ago
    This article is very weak, citing debt statistics isn't very challenging. Finding an economist predicting a looming recession is like finding a penny in a wishing well.
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  • Posted by mshupe 7 years, 5 months ago
    We're not immune, but we may be last to capitulate as the world's reserve currency.
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