Day of reckoning looms for the U.S. dollar

[Arraya]

[quote=Allan from Fallbrook][quote=Arraya]Of course we need to expand net energy to increase productions of goods and services and thus pay off our debts. Unfortunately it’s only going down, slowly now and quickly in a few years, probably 2-3. Factor in population growth and the per capita energy use has to go down and however that manifests. Most likely it will concentrate. Economics does not sufficiently handle this problem. Bernake can’t print energy and that by definition is the ability to do work.

As for movies depicting the future. Watch the first 15 minutes of “The Running Man”. Has the timing dead on, IMO. The creators must be peak oil savvy.

The year is 2017. The world economy has collapsed. The United States has sealed off it’s borders and has become a military controlled police state which controls TV, movies, art, books, communication and censorship. In the police state America has become, criminals have a choice…

Arnie gets in trouble for not obeying orders to shoot food rioters.

Blade Runner is in my top five as well.

[/quote]

Arraya: I must confess I’m torn. You’re one of my favorite posters on this board and one of the more astute in my humble opinion.

However, you’ve just referenced a movie that not only features Ah-nuld, but Richard Dawson, Jesse Ventura and Jim Brown. Dude! What are we to think?

While I’m thinking about it, are you a Neil Gaiman fan? If so, check out author China Mieville (it’s actually a British guy). I think you’ll like his style.
[/quote]

Ha! That is too funny. Honestly, I was hesitant to post for that very reason. It’s also way I said to watch the first 15 minutes because the rest is just a more cheesy and violent version of American Gladiator.

[nostradamus]

LOL well if you liked Jesse Ventura in Running Man then you’ll love Rowdy Roddy Piper in They Live. Talk about Hollywood accurately depicting our time, check out what he sees when he puts on the glasses! Awesome!

[nostradamus]

LOL well if you liked Jesse Ventura in Running Man then you’ll love Rowdy Roddy Piper in They Live. Talk about Hollywood accurately depicting our time, check out what he sees when he puts on the glasses! Awesome!

[nostradamus]

LOL well if you liked Jesse Ventura in Running Man then you’ll love Rowdy Roddy Piper in They Live. Talk about Hollywood accurately depicting our time, check out what he sees when he puts on the glasses! Awesome!

[nostradamus]

LOL well if you liked Jesse Ventura in Running Man then you’ll love Rowdy Roddy Piper in They Live. Talk about Hollywood accurately depicting our time, check out what he sees when he puts on the glasses! Awesome!

[nostradamus]

LOL well if you liked Jesse Ventura in Running Man then you’ll love Rowdy Roddy Piper in They Live. Talk about Hollywood accurately depicting our time, check out what he sees when he puts on the glasses! Awesome!

[Coronita]

[quote]
“Garnering attention is the risk the United States could lose its triple-A sovereign credit rating, which reflects the chance of the borrower defaulting on its debt.”
[/quote]

Well, apparently, not losing the AAA rating…..yet….

http://finance.yahoo.com/news/Moodys-US-governments-Aaa-apf-15359171.html?sec=topStories&pos=2&asset=&ccode=

Moody’s: US government’s ‘Aaa’ rating is stable
Moody’s says US government’s ‘Aaa’ rating is stable despite country’s growing debt

[Coronita]

[quote]
“Garnering attention is the risk the United States could lose its triple-A sovereign credit rating, which reflects the chance of the borrower defaulting on its debt.”
[/quote]

Well, apparently, not losing the AAA rating…..yet….

http://finance.yahoo.com/news/Moodys-US-governments-Aaa-apf-15359171.html?sec=topStories&pos=2&asset=&ccode=

Moody’s: US government’s ‘Aaa’ rating is stable
Moody’s says US government’s ‘Aaa’ rating is stable despite country’s growing debt

[Coronita]

[quote]
“Garnering attention is the risk the United States could lose its triple-A sovereign credit rating, which reflects the chance of the borrower defaulting on its debt.”
[/quote]

Well, apparently, not losing the AAA rating…..yet….

http://finance.yahoo.com/news/Moodys-US-governments-Aaa-apf-15359171.html?sec=topStories&pos=2&asset=&ccode=

Moody’s: US government’s ‘Aaa’ rating is stable
Moody’s says US government’s ‘Aaa’ rating is stable despite country’s growing debt

[Coronita]

[quote]
“Garnering attention is the risk the United States could lose its triple-A sovereign credit rating, which reflects the chance of the borrower defaulting on its debt.”
[/quote]

Well, apparently, not losing the AAA rating…..yet….

http://finance.yahoo.com/news/Moodys-US-governments-Aaa-apf-15359171.html?sec=topStories&pos=2&asset=&ccode=

Moody’s: US government’s ‘Aaa’ rating is stable
Moody’s says US government’s ‘Aaa’ rating is stable despite country’s growing debt

[Coronita]

[quote]
“Garnering attention is the risk the United States could lose its triple-A sovereign credit rating, which reflects the chance of the borrower defaulting on its debt.”
[/quote]

Well, apparently, not losing the AAA rating…..yet….

http://finance.yahoo.com/news/Moodys-US-governments-Aaa-apf-15359171.html?sec=topStories&pos=2&asset=&ccode=

Moody’s: US government’s ‘Aaa’ rating is stable
Moody’s says US government’s ‘Aaa’ rating is stable despite country’s growing debt

[Arraya]

This does not help.

http://www.usatoday.com/money/perfi/taxes/2009-05-26-irs-tax-revenue-down_N.htm
Federal tax revenue plunged $138 billion, or 34%, in April vs. a year ago — the biggest April drop since 1981, a study released Tuesday by the American Institute for Economic Research says.
When the economy slumps, so does tax revenue, and this recession has been no different, says Kerry Lynch, senior fellow at the AIER and author of the study. “It illustrates how severe the recession has been.”

For example, 6 million people lost jobs in the 12 months ended in April — and that means far fewer dollars from income taxes. Income tax revenue dropped 44% from a year ago.

“These are staggering numbers,” Lynch says.

Big revenue losses mean that the U.S. budget deficit may be larger than predicted this year and in future years.

[Arraya]

This does not help.

http://www.usatoday.com/money/perfi/taxes/2009-05-26-irs-tax-revenue-down_N.htm
Federal tax revenue plunged $138 billion, or 34%, in April vs. a year ago — the biggest April drop since 1981, a study released Tuesday by the American Institute for Economic Research says.
When the economy slumps, so does tax revenue, and this recession has been no different, says Kerry Lynch, senior fellow at the AIER and author of the study. “It illustrates how severe the recession has been.”

For example, 6 million people lost jobs in the 12 months ended in April — and that means far fewer dollars from income taxes. Income tax revenue dropped 44% from a year ago.

“These are staggering numbers,” Lynch says.

Big revenue losses mean that the U.S. budget deficit may be larger than predicted this year and in future years.

[Arraya]

This does not help.

http://www.usatoday.com/money/perfi/taxes/2009-05-26-irs-tax-revenue-down_N.htm
Federal tax revenue plunged $138 billion, or 34%, in April vs. a year ago — the biggest April drop since 1981, a study released Tuesday by the American Institute for Economic Research says.
When the economy slumps, so does tax revenue, and this recession has been no different, says Kerry Lynch, senior fellow at the AIER and author of the study. “It illustrates how severe the recession has been.”

For example, 6 million people lost jobs in the 12 months ended in April — and that means far fewer dollars from income taxes. Income tax revenue dropped 44% from a year ago.

“These are staggering numbers,” Lynch says.

Big revenue losses mean that the U.S. budget deficit may be larger than predicted this year and in future years.

[Arraya]

This does not help.

http://www.usatoday.com/money/perfi/taxes/2009-05-26-irs-tax-revenue-down_N.htm
Federal tax revenue plunged $138 billion, or 34%, in April vs. a year ago — the biggest April drop since 1981, a study released Tuesday by the American Institute for Economic Research says.
When the economy slumps, so does tax revenue, and this recession has been no different, says Kerry Lynch, senior fellow at the AIER and author of the study. “It illustrates how severe the recession has been.”

For example, 6 million people lost jobs in the 12 months ended in April — and that means far fewer dollars from income taxes. Income tax revenue dropped 44% from a year ago.

“These are staggering numbers,” Lynch says.

Big revenue losses mean that the U.S. budget deficit may be larger than predicted this year and in future years.

[Author]

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