So how long do we have before we become Greece?

[Sematary]

We all know it's coming (unless Dr. Paul becomes president - or perhaps - if it's not too late - his son in 2016) but we don't really know when. So when will the tipping point come? Dr. Paul has it right - eventually, our currency and our bonds will become worthless and then we will be Greece. The majority of America doesn't even know it yet, but I think they are beginning to see the writing on the wall, even if it is all gibberish to them at this moment. So what say you?

I give it about 10 - 15 years (MAX), if things don't change.

[youngbuck]

If we don't change course, I'd give it 8-12 years. We are heading that direction right now :(

[oyarde]

Without Paul , using CBO numbers , I say 2016 to 2018.

[emazur]

I'm thinking around 5 years and given the numbers it's very hard to imagine beyond 10 to 15 years. By 2025, the ENTIRE federal budget will be consumed by entitlements and interest on the national debt. That doesn't mean the U.S. can wait until 2025 and then fix the problem, something will have to happen first and it may not be voluntarily or within the government's power (no this isn't Peter Schiff talking, this is a report co-chaired by a former Federal Reserve vice-chair):
http://bipartisanpolicy.org/sites/default/files/FINAL%20DRTF%20EXECUTIVE%20SUMMARY_0.pdf

Moreover, by 2025, federal revenues will be completely consumed by the combination of interest payments, Medicare, Medicaid, and Social Security. The Treasury will have to borrow money to finance all of its other obligations – including defense, homeland security, law enforcement, food and drug inspection and other vital operations. These projections are based on fairly moderate assumptions about future interest rates. The nation’s outlook will grow far more ominous if America’s creditors lose confidence in the federal government’s commitment to address its debt problem – which will increase interest rates. A loss of confidence in the markets could also send the value of the dollar plunging overseas, which could trigger runaway inflation and still higher interest rates.
Rising debt and rising interest costs could evolve into a “death spiral,” with the two feeding off one another in an ever-more vicious cycle. No one knows when such a catastrophe might occur, but no prudent nation would put itself at such risk.

[ZENemy]

There are laws being put in place to make sure we don't end up like Greece, and I don't mean that in a good way.

[VIDEODROME]

I live in Michigan and if someone like Santorum won or we have another 4 years of Obama I seriously wonder if I should flee to Ontario or something.

No Canada isn't exactly a libertarian paradise, but they seem more stable. They don't seem to actively jump in the role of World Police quite as much.

Also even if they have social health care it doesn't seem totally centralized. The Provinces seem to be the main authority with assistance from Ottawa and that's a detail that appeals to me. Hell if America wanted government proved healthcare I'd want States to have the prime authority.

[Zippyjuan]

The reason that there are riots in Greece is due to the austerity programs- major budget cutting. Polititians in this country are very loathe to cut even the smallest thing. They will continue to borrow and spend as long as possible.

Canada has been more stable for a couple of reasons. On the recent economic crisis, they weren't hit nearly as bad because they kept in place much of the banking restrictions the US has been lifting for the last 20- 30 years.

[VIDEODROME]

Hmm..... on the topic of banks are they under pressures such as regulation of debit card transaction fees? Just thinking of the relationship between banks and retailers that become regulated that lead to Wells Fargo adding new fees to customers to make up for it.

Just makes me think there is Regulation and then there is Stupid Regulation.

Anyway if I think I'm going to do this I should look into the requirements and also the cultural aspects of it. I would want to assimilate if I lived there.

Aside from these details though sometimes I do think America is picking to many fights and it kind of freaks me out. I keep wondering if we're going to trigger a conflict that drags in bigger parties because of defense alliance pacts on both sides. (sorry a little off topic as that goes beyond Being like Greece. More like USSR)

[Liberty74]

It all depends on how long the idiots keep propping up the system.

[pcosmar]

One week,,three days, 4 hours and 25 minutes.

of course,,I could be mistaken.
;)

[pcosmar]

No Canada isn't exactly a libertarian paradise, but they seem more stable. They don't seem to actively jump in the role of World Police quite as much.


SPP will put an end to that.

[onlyrp]

I don't care how long we can become Greece, I want to know how I can benefit if we do become Greece.