Even More Reasons Why the US Economy Will Collapse:
#21. Five years of drought and Global Warming has caused many farmers
in the American mid-west to declare bankrupty. The US is facing a
possible food shortage if current drought trends continue. People
aren't building enough green houses to grow food.
#22. Rising costs of airplane flights are stifling business trips by
companies seeking to do business.
#23. Global Warming is causing record hurricanes, tropical storms,
floods and ecological disasters are destroying homes & businesses in
the South-Eastern United States. The storms also prevent oil rigs from
drilling in the Gulf of Mexico, causing an oil shortage.
#24. We're already in a recession. A depression is not far away.
#25. The White House is being complacent about the US economy and
isn't doing a thing to prevent a depression.
According to chief economists, the American economy is so close to
collapse its getting scary. But don't take my word for it, see what
people in authority have been saying about the US economy:
"The consequences for the US economy of doing nothing could be
severe." - Alan Greenspan.
"The world is set to jump off the top of a waterfall without knowing
how deep the water is below." - Kenneth Rogoff, IMF (International
Monetary Fund) Head of Economic Research.
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The Top Ten Reasons Why the US Economy Will Collapse:
(And by collapse, we mean go into a serious depression.)
#1. The United States government is currently running a budget deficit
of $1.8 billion/day. Too much deficit will create a weaker American
dollar and cripple the US economy.
#2. The US National Debt is $8 trillion+. It has to be paid back
eventually by raising taxes.
#3. Oil prices is $60+ per crude barrel, there is a shortage of oil
refineries and demand is growing due to more SUVs/trucks.
#4. China's economy is now bigger than the United States and China is
now the centre of the global economy.
#5. China's trade ex****ts out-matches the United States (ie. they can
build cars/trucks/SUVs for half the price).
#6. English is no longer the international business language. Mandarin
Chinese is now more im****tant.
#7. Global warming is causing the US Wheat Belt to turn into desert.
#8. US universities aren't creating enough graduates to compete on the
global market. Tuition is too expensive and there isn't enough
university professors.
#9. The babyboomers are retiring, creating a shortage of skilled
workers.
#10. George W. Bush failed Economics 101. He was too busy snorting
cocaine when he was at Yale.
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"There's a 75% chance that the US will experience a currency crisis
within five years." - Paul Volcker, Chairman of the US Federal
Reserve.
"There's nobody home on economic policy in America right now. Its an
accident waiting to happen." - Stephen Roach, Chief Economist, Morgan
Stanley.
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More Reasons Why the US Economy Will Collapse:
#11. Automobile companies keep laying off unionized workers and moving
their factories to China. The only car company building new plants and
hiring workers is Japanese car-maker Toyota (which only hires non-
union workers).
#12. The US government sold off its oil/gasoline reserves in 2002. It
no longer has oil reserves in case of a national shortage.
#13. American taxpayers have an average of $48,000 in debt due to
credit cards, mortgages, university debts, etc. If the economy goes
sour and they lose their jobs, they may have to declare bankruptcy.
#14. The US dollar is notoriously easy to make counterfeit bills of.
Its value of the US dollar is growing steadily lower. Thanks to modern
computer printers, counterfeit is very easy to make.
#15. The US economy still has not recovered from 9/11.
#16. The US economy relies on the consumption of goods at a decadent
rate. If something happens that throws the economy for a loop, it can
very easily fall into a depression.
#17. The US capitalist systems assumes that the United States is at
the top of the global economy. It no longer is. China is at the top.
#18. Over 60% of Americans are overweight and/or obese. The health
problems resulting from their unhealthy diets combined with a shortage
of doctors is causing the US healthcare system to collapse.
#19. The US government can't afford to pay for its soldiers serving in
Iraq, Afghanistan, South Korea... as a result, they are scaling back
pay, pension and benefits for their soldiers. Injured soldiers have a
crippling effect on the US economy and drain precious money from US
coffers and families of the soldiers suffer economic consequences
because they have to pay the hospital bills.
#20. Foreign investors are no longer investing in American companies.
They are investing in Chinese companies.
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