US economy in negative growth

[BigDaddyWatch]

People delight in predicting US doom that never happens. BoA is not going bust. So your dire predictions will go nowhere, just like all the others predicting the demise of the dollar and USA as a sole superpower. Keep trying. USA will keep trying harder. That is how it is done.

You didn't understand my post. If Bank of America goes bust that will obviously be bad for the US. But if Bank of America stays in business through artificial low interest rates like now its going to cause an even bigger catastrophy for America. So for America its now a lose lose situation. Americans like all before it and all after it will find that turning on the printing presses is much easier then turning it off. Just ask Zimbabwe!

 

[VCheng]

You didn't understand my post. If Bank of America goes bust that will obviously be bad for the US. But if Bank of America stays in business through artificial low interest rates like now its going to cause an even bigger catastrophy for America. So for America now its a lose lose situation. Americans like all before it and after it will find that turning on the printing presses is much easier then turning it off. Just ask Zimbabwe!

As long as the dollar remains the world's reserve currency, there are no worries.

 

[BigDaddyWatch]

As long as the dollar remains the world's reserve currency, there are no worries.

What happens when one day its no longer ?

Even with the USD as the world's reserve currency the US won't be able to escape the consequences of its current policies. The debts, the imbalances, the gap between the rich and poor, the bubble's in the economy are all growing ever larger under the current monetary and fiscal policies and sooner (less painful) or later (more painful) it will blow up.

 

[VCheng]

What happens when one day its no longer ?

Even with the USD as the world's reserve currency the US won't be able to escape the consequences of its current policies. The debts, the imbalances, the gap between the rich and poor, the bubble's in the economy are all growing ever larger under the current monetary and fiscal policies and sooner (less painful) or later (more painful) it will blow up.

People have been predicting that for decades now. That they are always disappointed shows just how premature their dire predictions of demise of the US dollar really are. Yawn.

 

[cheekybird]

Saudi

Those chosen ones won't be touched

 

[gambit]

Did any of the 'experts' here, the ones who can barely balance a checkbook or qualify for a credit card, did any basic research about this ?

Economic Recessions - United States History

GDP was negative for six of the 12 quarters. The worst was Q2 1980 at -7.9%(-7.8%), the worst quarterly decline since the Great Depression (until the 2008-2009 recession). In Q1 1982, it was nearly as bad, plummeting 6.4%.

I lived through those yrs. The US is still here and wealthier.

Now what ?

 

[Götterdämmerung]

The US is still here and wealthier.

Yes, for the 1%.

 

[faisal6309]

Those chosen ones won't be touched

Unless its time

 

[longyi]

Yes, for the 1%.

You nailed it!

 

[gambit]

Yes, for the 1%.

Wrong...It is not that difficult to find wealth information for every demographics in the US.

But why are you worrying about the 1% ? Neither Germany nor China have their own 1% ? When the millionaire fills his swimming pool, does it take water away from your shower ? Are you jealous of others' wealth ?

 

[Götterdämmerung]

Wrong...It is not that difficult to find wealth information for every demographics in the US.

But why are you worrying about the 1% ? Neither Germany nor China have their own 1% ? When the millionaire fills his swimming pool, does it take water away from your shower ? Are you jealous of others' wealth ?

A simple google about the median income of the US suffice. The topic is about the US and not Germany or China and neither of them had experienced a recession in the last few years. If it's a comfort to you, yes, Germany has its 1% as well but at least we still haven't reached the level where middle class people suddenly end up in a tent city.

Millionaires can fill up their pool as much as they want as long as people don't end up in tent cities. Unlike some sociopathic people, most people here in Germany have empathy and a sense of social justice.

 

[OCguy]

I don't think any nation that relies on the US economy to sell their exports, or is otherwise heavily tied to it, should rejoice during a slowdown.

Though for now, the economy is picking right back up, and we avoided a depression at the end of the last decade.