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Us debt crisis.

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Yeah funny how the white guilt runs in the media. European countries actually only enslaved a very small number of africans themselves. Mostly they bought slaves from african tribes who had enslaved other african tribes. A lot of african slaves were taken to america (north and south) and europe by europeans, but they were already slaves in their home countries. Also, east european countries enslaved a lot of people at the time, too, including other Europeans. And the Arabs had much, much more black slaves than Europe ever did. FUNNY HISTORY FACTS, HUH?!

And Lyucs, the changing of the currency was only one of MANY changes that stabilized Brazil's economy in 1994. Before that we had had some 6 or 7 changes in currency over a period of 20 years, which is quite absurd. in the late 80s the inflation was at its worst, where people had to invest their entire bank accounts on overnight investments, or wake up to find their money worth absolutely nothing. Still we didn't make it out of that on our own. We used international relations and better planning to recover, and even then, Brazilian currency is very unstable compared to first world countries. In a world wide economic breakdown, recovery would be a lot harder and require a complete new economic restructuring and mental mindset.
  • #51

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Top Post-Collapse Barter Items And Trade Skills

Get ready.
  • #52

I feel so fortunate that I have some metalworking skills (chainmailling, blacksmithing, among others). I'm gonna be a post-economic-collapse god, apparently.
  • #53

looks like i'll have to hunt for food. america is doomed. i'm sure.
  • #54

How this is being perceived

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What it will actually be like

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(i.e. We'll go about our everyday lives and won't notice it that much)

This post has been edited by ClosetLucy: 16 August 2011 - 04:54 AM

  • #55

Thanks for the video, I've been wondering lately what the whole "debt crisis" thing was. I knew it was bad but I didn't know why, which I'm sure is what it's like for most people. What America needs is for Obama to explain things and start a kind of charity for the country. I know that sounds terrible and super simplified but if people just knew this stuff they might feel better about paying taxes. Just as long as they don't blame Obama, this is a direct cause of the recession we've had for the past few years which was in turn caused by actions over the past decade or two. Things like this are rarely caused by the person in power at the time. I really wish people could understand that too.
  • #56

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what exactly do we get from the US? Everything says Made in China or Made in Canada
don't forget all the wood you get from us, where will you be then?!

but seriously, I don't see things getting TOO out of control compared to the US itself. hell, the US might become the "new" Mexico with people crossing our border looking for work


Financial services, technology, and a market to sell to, among other things. If the US goes under, pretty much everyone is boned. Remember, the #1 trading partner of Canada is the US, NOT shitty third world countries.

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A huge percentage of the money the US government owes is to China, they're the biggest shareholder in our debt, China will be high and mighty if the US collapses.


People who believe this are incredibly gullible.

The #1 holder of American debt is Americans.

To be fair, though, China will be quite screwed if the US goes under, as a lot of their economic growth is dependent on exports to the first world.

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Fair enough, but China's national debt is currently 3% of their GDP, so they have a lot of wiggle room in that regard. Not getting their money back is probably not as terribly huge of a problem than if they were, say, Great Britain, whose debt is something like 250-300% of their GDP, if I recall.


What happens when the Yuan becomes properly valued against the US dollar? China's economy would collapse. 3% doesn't sound so bad, but what happens when you suddenly lose a lot of your export sales?

Incidentally, they are completely wrong that a global economic crash hasn't happened before. It was called "The Great Depression".

It rather sucked.

It is true that we need to get our debt under control, though. Inflation is quite bad already, and its leading to decreased standard of living.
  • #57

View Postskmojo, on 12 August 2011 - 05:43 AM, said:

Still glad I live in Australia...

Meanwhile Australia is down there all like "WTF mate?"
  • #58

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