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If the US goes belly up....

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-Skeksis-
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02 Mar 2012, 12:19 am

The economy, job market etc.....

....what will happen to America's pants and top hat?



goodwitchy
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02 Mar 2012, 12:32 am

The emperor has no clothes now.


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-Skeksis-
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02 Mar 2012, 1:35 am

goodwitchy wrote:
The emperor has no clothes now.


LOL

What'll happen to Mexico and Canada?



shartora
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02 Mar 2012, 5:34 am

-Skeksis- wrote:
goodwitchy wrote:
The emperor has no clothes now.


LOL

What'll happen to Mexico and Canada?


Canada is sitting pretty, so is Australia. They both set laws forbidding their banks from doing what the rest of the westernised countries did. Canada in particular is an economic sleeping giant, just needs a few more people to start being noticed. However, the cannuks I've met like not being noticed and would probably want things to stay that way.

As for Mex: they'll still swim over as life in the US will still be better than their own country.

If you think the US is only this enormous tottering financial mess then think again. The nation is massively productive with eye-wateringly high exports. Even if the dollar goes belly-up, which is basically what is happening, the nation will still survive on its resources, which can feed and cloth several nations, never mind just the US citizens.

I don't think there will be an apocolypse.


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noname_ever
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02 Mar 2012, 10:28 am

-Skeksis- wrote:
goodwitchy wrote:
The emperor has no clothes now.


LOL

What'll happen to Mexico and Canada?


Canada will have many heavily armed new immigrants and will likely triple its total population.



slave
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02 Mar 2012, 1:06 pm

shartora wrote:
-Skeksis- wrote:
goodwitchy wrote:
The emperor has no clothes now.


LOL

What'll happen to Mexico and Canada?


Canada is sitting pretty, so is Australia. They both set laws forbidding their banks from doing what the rest of the westernised countries did. Canada in particular is an economic sleeping giant, just needs a few more people to start being noticed. However, the cannuks I've met like not being noticed and would probably want things to stay that way.

As for Mex: they'll still swim over as life in the US will still be better than their own country.

If you think the US is only this enormous tottering financial mess then think again. The nation is massively productive with eye-wateringly high exports. Even if the dollar goes belly-up, which is basically what is happening, the nation will still survive on its resources, which can feed and cloth several nations, never mind just the US citizens.

I don't think there will be an apocolypse.


I respect you.

Your opinion is 100 % incorrect. I am an expert in economics and on the global economic crisis.



visagrunt
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02 Mar 2012, 1:25 pm

shartora wrote:
-Skeksis- wrote:
goodwitchy wrote:
The emperor has no clothes now.


LOL

What'll happen to Mexico and Canada?


Canada is sitting pretty, so is Australia. They both set laws forbidding their banks from doing what the rest of the westernised countries did. Canada in particular is an economic sleeping giant, just needs a few more people to start being noticed. However, the cannuks I've met like not being noticed and would probably want things to stay that way.

As for Mex: they'll still swim over as life in the US will still be better than their own country.

If you think the US is only this enormous tottering financial mess then think again. The nation is massively productive with eye-wateringly high exports. Even if the dollar goes belly-up, which is basically what is happening, the nation will still survive on its resources, which can feed and cloth several nations, never mind just the US citizens.

I don't think there will be an apocolypse.


Canada is sitting pretty? Yes--but dive under that statement and look at why we are sitting pretty. Because we have preferential access to the largest consumer market on the planet. Trade represents 30% of our GDP, and the United States represents 70% of our trade. The demise of the United States threatens 20% of our GDP. We cannot for one moment pretend that we are insulated from the consequences of cavalier behaviour south of the border.


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ruveyn
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02 Mar 2012, 1:40 pm

visagrunt wrote:

Canada is sitting pretty? Yes--but dive under that statement and look at why we are sitting pretty. Because we have preferential access to the largest consumer market on the planet. Trade represents 30% of our GDP, and the United States represents 70% of our trade. The demise of the United States threatens 20% of our GDP. We cannot for one moment pretend that we are insulated from the consequences of cavalier behaviour south of the border.


When the U.S. catches a cold, Canada is in danger of pneumonia., That Canadian Economy is vitally dependent on the U.S. economy.

ruveyn



shartora
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03 Mar 2012, 5:59 am

slave wrote:
I respect you.

Your opinion is 100 % incorrect. I am an expert in economics and on the global economic crisis.


I'm happy for your expertise. Provide the corrections so I can learn from it.


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shartora
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03 Mar 2012, 6:05 am

ruveyn wrote:
visagrunt wrote:

Canada is sitting pretty? Yes--but dive under that statement and look at why we are sitting pretty. Because we have preferential access to the largest consumer market on the planet. Trade represents 30% of our GDP, and the United States represents 70% of our trade. The demise of the United States threatens 20% of our GDP. We cannot for one moment pretend that we are insulated from the consequences of cavalier behaviour south of the border.


When the U.S. catches a cold, Canada is in danger of pneumonia., That Canadian Economy is vitally dependent on the U.S. economy.

ruveyn


Canada loses 20% of its GDP. How much GDP can a country lose before it's in the s**t?


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ruveyn
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03 Mar 2012, 7:18 am

shartora wrote:

Canada loses 20% of its GDP. How much GDP can a country lose before it's in the sh**?


Sudden losses are killers.

ruveyn



-Skeksis-
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03 Mar 2012, 10:58 pm

The US owns many of Canada's corporations, and thus, resources.

What will this mean for the Top Hat?



YippySkippy
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04 Mar 2012, 10:02 am

If something (more) economically devastating happens in the U.S., it will negatively affect America's ability to produce goods and trade with other countries. Thus, the fact that the U.S. presently produces a lot of goods doesn't mean this will continue to be the case.



anarkhos
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06 Mar 2012, 4:44 pm

I think you mean when, not if.

The bond market is being propped up by the FED. China has stopped buying and instead is trying to convert their paper to real assets. Rates will have to go up at some point, and when they do the bond market will be exposed for the hollow shell it is.

The real problem is the government's knee-jerk reaction to save vested interests instead of allowing capital to flow from unproductive sectors to productive ones. In 1929 2/3rds of the economy was agricultural so they froze prices and the result was unsold crops, soup lines, and massive unemployment. Now they're propping up housing prices and the result is unsold houses, tent cities, and massive unemployment (shadowstats.com for the real numbers).

Nobody remembers the severe stock crash of 1921. Why? Because nobody "saved" the economy when it happened.



shartora
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07 Mar 2012, 3:12 am

anarkhos wrote:
I think you mean when, not if.

The bond market is being propped up by the FED. China has stopped buying and instead is trying to convert their paper to real assets. Rates will have to go up at some point, and when they do the bond market will be exposed for the hollow shell it is.

The real problem is the government's knee-jerk reaction to save vested interests instead of allowing capital to flow from unproductive sectors to productive ones. In 1929 2/3rds of the economy was agricultural so they froze prices and the result was unsold crops, soup lines, and massive unemployment. Now they're propping up housing prices and the result is unsold houses, tent cities, and massive unemployment (shadowstats.com for the real numbers).

Nobody remembers the severe stock crash of 1921. Why? Because nobody "saved" the economy when it happened.


It looks like China is moving to the end-game now. Having bought up a huge amount of US debt it is now in a position to deliver the coup de grace to the US, dumping its treasuries to push an already overstretched economy over the edge by forcing up the cost of Uncle Sam's borrowing. I doubt this scenario is pure chance, I know China has been buying up US debt for a looong time now. For why, if not to be able to exert pressure as and when it wishes? Interesting times ahead, m'thinks.


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anarkhos
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07 Mar 2012, 3:19 am

shartora wrote:
I know China has been buying up US debt for a looong time now. For why, if not to be able to exert pressure as and when it wishes? Interesting times ahead, m'thinks.


You give China waaay too much credit. The reason they bought US debt is there is nothing else you can buy with dollars.

China has been selling (at steep discount) goods to the US consumer for green pieces of paper. Now, in saner times, when you sell goods to a foreign country you then buy goods from that country, but since we don't make anything they buy US debt which keeps rates low and they essentially feed our spending binge of Chinese goods. It's a spiral of politics' making.

China hasn't been a player of late, though. As I said, they've stopped buying (and I would argue would start selling if the US treasury didn't threaten to close their accounts). The FED has become the only player in this supposed 'market'.