20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover

[LibertyPulse.com]

http://libertypulse.com/article/3793

Even though the U.S. financial system nearly experienced a total meltdown in late 2008, the truth is that most Americans simply have no idea what is happening to the U.S. economy. Most people seem to think that the nasty little recession that we have just been through is almost over and that we will be experiencing another time of economic growth and prosperity very shortly. But this time around that is not the case. The reality is that we are being sucked into an economic black hole from which the U.S. economy will never fully recover. The problem is debt. Collectively, the U.S. government, the state governments, corporate America and American consumers have accumulated the biggest mountain of debt in the history of the world. Our massive debt binge has financed our tremendous growth and prosperity over the last couple of decades, but now the day of reckoning is here. And it is going to be painful. The following are 20 reasons why the U.S. economy is dying and is simply not going to recover....

http://libertypulse.com/article/3793

[Lovecraftian4Paul]

The debt is a big part of it, but there's other factors to my mind. It's becoming somewhat cliche to say, but we need to get back to producing something. It may not be old factories making machines and components, but there must be something this country and produce for use at home and for export in the rest of the world.

Also, our consumer economy has seemingly done nothing but create mostly low paying, poor benefits retail jobs. Seasoned trades workers end up in these Mcjob hellholes thanks to so much going overseas. More understandably, college students without hard skills end up in these places as well.

Which brings me to another point: the college bubble. We've gotten to the point where a degree in anything other than a trade or something math/science intense is little more than a glorified high school diploma. Schools need to push careers more. The big universities should be shutting down their athletics to save money purely toward education.

And the student loans need to made dischargeable in bankruptcy again. Tuition is so high and large student debt so ubiquitous because the loan industry has a near monopolistic protection from risk. If someone borrows huge sums to study an obscure subject that leads them into a job not making enough to pay it back, they should pay the price by declaring bankruptcy. So should the loan companies for giving students like this unlimited quantities of money. If it becomes harder for even the most outrageous loans to be accessible, then you'll see tuition come down a little, and thus less need for debt in the first place.

[payme_rick]

The big universities should be shutting down their athletics to save money purely toward education.




I don't see how that would make sense... money is not being thrown down the toilet to pay for these athletes' education at big universities... it's actually the opposite... these athletes help these big universities rake in money...

maybe directing more of that profit to educational reasons would be an answer... really haven't thought about that...

but you have to think, getting rid of these college athletes at big universities would get rid of big-time college sports, which would cut into retail sales etc... a lot IMO...

[Met Income]

The debt is a big part of it, but there's other factors to my mind. It's becoming somewhat cliche to say, but we need to get back to producing something. It may not be old factories making machines and components, but there must be something this country and produce for use at home and for export in the rest of the world.

Also, our consumer economy has seemingly done nothing but create mostly low paying, poor benefits retail jobs. Seasoned trades workers end up in these Mcjob hellholes thanks to so much going overseas. More understandably, college students without hard skills end up in these places as well.

Which brings me to another point: the college bubble. We've gotten to the point where a degree in anything other than a trade or something math/science intense is little more than a glorified high school diploma. Schools need to push careers more. The big universities should be shutting down their athletics to save money purely toward education.

And the student loans need to made dischargeable in bankruptcy again. Tuition is so high and large student debt so ubiquitous because the loan industry has a near monopolistic protection from risk. If someone borrows huge sums to study an obscure subject that leads them into a job not making enough to pay it back, they should pay the price by declaring bankruptcy. So should the loan companies for giving students like this unlimited quantities of money. If it becomes harder for even the most outrageous loans to be accessible, then you'll see tuition come down a little, and thus less need for debt in the first place.

We're producing, we just taking out too much public debt in the process.

[james1906]

I don't see how that would make sense... money is not being thrown down the toilet to pay for these athletes' education at big universities... it's actually the opposite... these athletes help these big universities rake in money...

maybe directing more of that profit to educational reasons would be an answer... really haven't thought about that...

but you have to think, getting rid of these college athletes at big universities would get rid of big-time college sports, which would cut into retail sales etc... a lot IMO...

Only profitable for football and basketball at top schools. You don't see people wearing Cal State Fullerton apparel because of their excellent baseball program.

[MN Patriot]

Only profitable for football and basketball at top schools. You don't see people wearing Cal State Fullerton apparel because of their excellent baseball program.

Geez, can't anyone stay on topic in this forum? The OP was about the economy, and people immediately start discussing college sport programs.

Here is an idea of how to recover:

Elect libertarians to Congress and the state legislatures.

End the income tax.

Privatize as many government agencies as possible.

Pay off the government debt by liquidating government assets, such as the vast amounts of land the government owns.

End the Federal Reserve. Go back to honest money.

Yeah, anybody can write gloom and doom articles about the economy. I've been reading them for close to 30 years now. We need more articles about how to fix this mess the collectivists have created for us. And we need to get people to wake up to the cause of these problems; it wasn't free markets, it was collectivism and corruption that created this.

[payme_rick]

Only profitable for football and basketball at top schools. You don't see people wearing Cal State Fullerton apparel because of their excellent baseball program.

purdy sure I said 'big' universities...

and if I'm not mistaken there are not many scholarships given out on a baseball team and some that are aren't even full-scholarships...

but either way, other sports outside of basketball and football are funded by the athletic department, which has the money football and basketball make them...

if in the red I agree, but if they're profitable why the hell?

[payme_rick]

Geez, can't anyone stay on topic in this forum? The OP was about the economy, and people immediately start discussing college sport programs.



ha... sorry, forgot that college sports do not have any impact whatsoever on the economy...

[MN Patriot]

ha... sorry, forgot that college sports do not have any impact whatsoever on the economy...

Then lets pay off the national debt by selling sweatshirts with logos on them. :rolleyes:

[phill4paul]

#1 Reason why the U.S. Economy will die.

Ignorance by those charged with its safe keeping. I don't mean politicians.

[Anti Federalist]

#1 Reason why the U.S. Economy will die.

Ignorance by those charged with its safe keeping. I don't mean politicians.

+1

The same reason the Republic will die.

[dgr]

Jerome Coursi has an excellent new book ''THE SELLING OF AMERICA'' he advociates a 5 point plan 1 no more Fed
2 get out of NAFTA, CAFTA, WTO
3 get out of the UN and World Bank
4 an 5 had to do with China trade and US manufacturing
I loaned the book to a friend so I can not accurately quote the last 2

[langoley]

Geez, can't anyone stay on topic in this forum? The OP was about the economy, and people immediately start discussing college sport programs.

Here is an idea of how to recover:

Elect libertarians to Congress and the state legislatures.

End the income tax.

Privatize as many government agencies as possible.

Pay off the government debt by liquidating government assets, such as the vast amounts of land the government owns.

End the Federal Reserve. Go back to honest money.

Yeah, anybody can write gloom and doom articles about the economy. I've been reading them for close to 30 years now. We need more articles about how to fix this mess the collectivists have created for us. And we need to get people to wake up to the cause of these problems; it wasn't free markets, it was collectivism and corruption that created this.

First,ending the income tax is not viable,but a 15% flat tax is.
second,most FEDERAL government agencys are redundant to state ones and can just be abolished!!
Third,DO NOT sell federal lands,THEY ARE OUR HERITAGE,and must be preserved,they just need to be managed properly!
Fourth,The federal reserve is e NECESSARY EVIL now,there is not enough gold or silver to back our currency,it just needs OVERSIGHT,AS RON PAUL SAYS!!!

[MN Patriot]

First,ending the income tax is not viable,but a 15% flat tax is.
second,most FEDERAL government agencys are redundant to state ones and can just be abolished!!
Third,DO NOT sell federal lands,THEY ARE OUR HERITAGE,and must be preserved,they just need to be managed properly!
Fourth,The federal reserve is e NECESSARY EVIL now,there is not enough gold or silver to back our currency,it just needs OVERSIGHT,AS RON PAUL SAYS!!!

100 years ago there was no income tax, so YES, ending the income tax is viable. 15% flat tax is still enslavement to government. Why not 20%, 50%, 90% taxes. Let us keep a little spending money for an ice cream cone and a movie and government can take the rest and support us from cradle to grave.

I would rather have a national sales tax, never to exceed 5%. What the government raises is what they get.

If federal lands were sold, the owners could manage them. You want to be an owner? Buy stock in federal lands, and show us how to manage them properly.

You aren't paying attention to what Ron has been saying for many years now:

http://www.tenthamendmentcenter.com/wp-content/uploads/2009/11/endthefed.jpg

[NerveShocker]

First,ending the income tax is not viable,but a 15% flat tax is.
second,most FEDERAL government agencys are redundant to state ones and can just be abolished!!
Third,DO NOT sell federal lands,THEY ARE OUR HERITAGE,and must be preserved,they just need to be managed properly!
Fourth,The federal reserve is e NECESSARY EVIL now,there is not enough gold or silver to back our currency,it just needs OVERSIGHT,AS RON PAUL SAYS!!!

lol! I can't disagree with you more on every point except #2.. Welcome to Ron Paul Forums? Oh and Ron Paul wrote a book called End The Fed, not regulate the fed ;).. but that is a first step grasshopper.. -.^

[foofighter20x]

I think the real problem is that the U.S. is providing a global public good: i.e., global security.

We sure as hell aren't getting paid to do it, though, and I think the debt we incur to provide it is the problem.

Time to let Europe and the U.N. fend for themselves.

[foofighter20x]

If federal lands were sold, the owners could manage them. You want to be an owner? Buy stock in federal lands, and show us how to manage them properly.

You are assuming that there are people out there who will buy up all the land the federal government still owns.

Most of the land is in the western states. With the exception of national parks, have you seen the land the federal gov't owns?

IT'S A BUNCH OF SHIT HOLE DESERT!

It's worthless.

[fj45lvr]

I don't see how that would make sense... money is not being thrown down the toilet to pay for these athletes' education at big universities... it's actually the opposite... these athletes help these big universities rake in money...



these major conference college football and basketball teams are in reality "pro" teams (just with CHEAP salaries to the players)....they generate all the same profits (tailgating, merchandising, ticket sales, major advertising revenues).....

and the more successful teams have higher numbers in student enrollment (people like winners).