The U.S. budget crises

I've just read the artice at forexfactory.com about the U.S. budget crises.
Do you think it's really possible? If yes then what is in store for us?

Well, unfortunately, if these guys are saying this, then I would be inclined to believe them, since they seem to be the ones facilitating the problem in the first place with programs like QE.

Can't say I disagree with anything he's saying there, but why do people listen to Alan Greenspan still?

He supported the Bush tax cuts in 2001 (didn't do shit to help, now he's against them)

He said there was "no housing bubble" in 2003 (lol)

He said not supporting sending jobs offshore could destabilize the economy in 2004

Back in June, he had this gem to say: "average income of U.S. households headed by 25-year-olds and younger has been declining relative to the average income of the baby boomer population. This is a reasonably good indication that the productivity of the younger part of our workforce is declining relative to the level of productivity achieved by the retiring baby boomers. This raises some major concerns about the productive skills of our future U.S. labor force."

Really, Al? Average income for US households headed by 25 year olds and younger has been declining because our workforce isn't as productive? Really you fucking moron? Really, at a time when employers are cutting back labor like whoa and forcing fewer workers to do more, when productivity is sky high for many companies, while wages for the middle class have been stagnant since Reaganification of the US economy back in the 80s? And you're blaming it on our productivity?

Guy is a fucking moron with zero credibility. He looks like a fucking platypus, as well.

I think we listen to him because he wan not so bad.
Looking at the size of the US national dept I am really worried. If anything bad happens with the US economy and the US dollar, every country will suffer.

well...........he is right, in a fiat floating money system, the national debt and deficit spending is not so much a problem, the problem is the way the resources are allocated.

the US can never default or find himself out of money because he does not have money to begin with, all money needs to be spent to provide liquidity and taxed to contract liquidity.

the problem with our system as it stands, is the MISALLOCATION of resources, via socialist policies, production will fall as the baby boomers retire, the US might not be able to fill many of the SKILLED positions, left by that generation, as our STUPID GENERATION begins to enter the workforce.

yeah im talking about my generation and down 26y/o down, with falling grades, increasing drop outs in college, facinated with coochie flashing celebs, and gadgets to inform people of when we shit and when we wipe our ass.

you see the USD as a fiat currency derives its value from faith, and productivity of the nation. so the US can never run out of money as it can always print more, but the more we print to meet our obligations with out the national productivity and expanding economic growth will just give us an evironment with excess liquidity, the more cash for less goods the more inflation, the poorer the nation becomes

so in summery we need more fiscal responsibility to safe guard the value of our currency, allocate our resources better, and improve the skill and productivity as well as innovation of our nation.

not so much balance budget in the traditional sense, deficit spending is necessary in times of crisis and tighter monetary policies and increased taxation is needed in inflationary periods

Wow, that makes zero sense!

I would expect socialist morons to believe such a stupid-ass philosophy, but Forex traders *should* have more wisdom than that.

If "everyone" suffers, then NO ONE suffers.

"Suffering," like everything else, is relative. It's impossible for everyone to be in trouble. Someone can only be in a state of "trouble" if there exists those that are NOT in it.

Duh.

this shit makes zero sense

do you care to explain what you mean.

poster stated everyone suffers when THE RESERVE CURRENCY is in trouble, and it is obviously true, inflatory pressures rise on the global financial system as the reserve currency debases itself, some exports suffer as some currencies begin to appreciate.

what is you point, or are you just senselessly ranting?