'Lost Vegas' .. or the likely fate of a service based US economy
(snip)"The ‘bad’ phase of this financial crisis is only beginning
Up until now, while things may have been bad on an individual level (job loss, foreclosures, etc…), the financial crisis hasn’t impacted the way America works. People may have cut back on spending, but the basics of American life haven’t been drastically altered. However, that is about to change as the dollar collapses over the coming months.
(See Loud Paradigm Shift Rumblings or Fed Planning 15-Fold Increase In US Monetary Base for more on the information on what is happening to the dollar.)
No Savings
Savings are going to be wiped out by the dollar’s collapse. Oh, there will be plenty of $100 bills floating around the economy, but these bills won’t buy anything of value.
No Credit
Although the financial crisis has greatly impacted the ability to borrow, right now it is still possible for American consumers to borrow money. As proof, I just got another 0% credit card last month (which I used to buy gold on ebay).
However, credit card limits aren’t going to be increased to keep up with inflation, which means a year from now nearly all credit cards will be useless (credit cards of foreign banks denominated in foreign currencies might still work). Additionally, hyperinflation has the impact of vaporizing the financial sector of the country where it occurs, which means it will be soon next to impossible to borrow money in the US.
No Jobs
The dollar has beginning to fall, and over the next year it will lose most of its value. As it does, most of America’s service economy, like Las Vegas, will disintegrate, as consumer spending in real terms (ie: gold or other stable currencies) will drop like a rock. The US service sector will evaporate, bringing unemployment to levels exceeding the great depression.
Millions will die
When people go broke, so do their governments.
--Quote from "Lost Vegas"
As the US service economy disintegrates, public health services/programs will be cut back, and individuals will have no savings/credit/income to pay for medical care. The “Lost Vegas” video should give an idea what this will look like: patients will be turned away from hospital. Pharmacies will also close because no one will have any means of paying for medication. It will be a disaster…
Crime will spread
“This economy is so stupid, man. People are going to start going to jail eventually… because, you know, they’re worried about their kids, the health of their kids, feeding their kids… they're going to do whatever it takes to feed their kids, man… I got kids, man… I gotta feed, man.”
--Quote from "Lost Vegas"
We are heading towards a future with millions of desperate people at a time when critical services, including law enforcement, will be cutting back. To make matters worse, oil prices will soar in dollars, leading to possible shortages and supply disruptions. Because of rising fuel costs and budget constraints, police forces will have to cut back on their fuel use, which means less patrolling…
This is what really scares me. You can stockpile all the food and gold in the world, but it is useless if it gets stolen from you.
How will your community do?
Look around you. Do you see any farmland, mines, oil wells/refining, factories, or unique landmarks able attract foreign tourist? If you do, then you are luck, as these places will bring in income which will help sustain your local economy (Alaska will probably be the state best able to weather the crisis).
However, if all you see is retailers, hotels, casinos, houses, skyscrapers, restaurants, bars, clubs, etc, then your community is in trouble. "Lost Vegas" offers a preview of what faces a local economy concentrated entirely in the service sector.
Longer term, the US will recover
In the longer term, the manufacturing in the United States will recover. Companies will start outsourcing jobs here, as we will be the new China (weak currency with millions of people desperate for work). The US is also blessed with some of the best agricultural land on Earth. The people responsible for this economic/financial mess will go to jail, and the US economy will experience real grow based on the production real goods (and not over-consumption and foreign debt).
It is the next two years which terrify me. I might go visit my sister in Russia for a prolonged stay. "(snip)
link also includes an extremely revealing documentary video
from
Re: 'Lost Vegas' .. or the likely fate of a service based US economy
And these predictions are based on...? Everyone loves to predict the arrival of the apocalypse, but after thousands of years of predictions, it still hasn't happened.
I suppose we still have 2012 to look forward to. :)
Re: 'Lost Vegas' .. or the likely fate of a service based US economy
(snip) It appears open to interpretation as to whether 2012 will bring total destruction or a transformation of our world. So, below are prophecies (not necessarily Mayan) for 2012:
1. There have been three or four previous races and ages of humanity (depending upon the source you read). All of these have been destroyed in major cataclysms. December 21.2012 marks the end of this age and it will end in major catastrophes such as Earthquakes. (see commentary on this statement below)
2. For half of the katun (20 year Mayan cycle) there will be food, for half some misfortunes. This katun brings the end of the "word of God." It is a time of uniting for a cause.
3. As we pass through transition there is a colossal, global convergence of environmental destruction, social chaos, war and ongoing Earth changes.
4. The Earth will undergo a magnetic field shift, reversing the polarity of the planet.
5. An asteroid or comet will collide with the Earth. (snip)
from
Re: 'Lost Vegas' .. or the likely fate of a service based US economy
When they go on about how our currency and CC will be useless, but not other contries, and about going to Russia for an extended vacation, it is laughable. If our economy goes down, do you really think the rest of the world goes on as usual? It's like China dumping our tbills, it will hurt them worse than us.
More predictions for 2012:
Hillary and Bill divorce.
nObama and Bill come out of the closet.
Chelsea's adult film career hits an all time high. She directs what are to be her two most successful films: Gangbang Senators, and Gangbang Representatives. In December, she loses her popularity when she releases A Whute House Affair. Having her dad costar proves to be a major mistake, even in this day.
Re: 'Lost Vegas' .. or the likely fate of a service based US economy
Quote:
Originally Posted by
glambman
When they go on about how our currency and CC will be useless, but not other contries, and about going to Russia for an extended vacation, it is laughable. If our economy goes down, do you really think the rest of the world goes on as usual? It's like China dumping our tbills, it will hurt them worse than us.
More predictions for 2012:
Hillary and Bill divorce.
nObama and Bill come out of the closet.
Chelsea's adult film career hits an all time high. She directs what are to be her two most successful films: Gangbang Senators, and Gangbang Representatives. In December, she loses her popularity when she releases A Whute House Affair. Having her dad costar proves to be a major mistake, even in this day.
Lol :drum: