Very interesting read PDF with in link.

http://www.rawstory.com/rs/2010/10/s...rupt-50-years/

25 years max. 10 years is more likely for the more obviously troubled debtor nations.

What % are bankrupt right now?

This is what happens when the government becomes the answer to everything. Hopefully we will learn our lesson this time.

The article defines bankrupt as junk debt status. The article says 1 in 8 is are at junk status now, so ~12%.

Yeah right.

the article was interesting imo because it hypothesizes that even if governments adopted balanced budget proposals, they still would increase their debt/gdp ratio

Also the main purpose is to show just how serious the "silver tsunami" of a substantial portion of our workforce retiring at once is.

LOL.... you honestly believe that's the root cause?

Coming from the same institution that rated AIG AAA right to the very end.

Why do you keep being surprised that every one doesn't attribute everything as due to peak oil?

Yeah, we are mortgaging our country for the sake of maintaining our standard of living. I'm no economist, but it makes sense to me. Lets hear your explanation...

Anyone have any idea if this is actually a bold prediction compared to historical norms (other than the apparent prediction that the US will be having a sovereign debt crisis)? I mean, at any point in time there are typically many countries with flimsy fiscal records issuing debt and paying credit spreads to do so. What is the current % of countries with junk bond ratings?

.

Oh, I'm hardly surprised. I just wanted to give him a chance to think it through.

Correct. We've been doing this for 40 years, as the technocrats insist we must keep feeding the beast at all costs. To hell with the symptoms. ... Will our children and grandchildren ever forgive us? Probably not.

"The American way of life is not negotiable." What do you think that ultimately refers to?

It won't be 50 years, more like 10-15. My position on the meltdown of industrial nations is nothing new, and supported more and more with each passing day by everyone from the Joint Chiefs to Oxford University. For the most up-to-date confirmation, Google about the ASPO conference that just took place last weekend.

energybulletin.net

Basically, the global economy is dictated by abundant cheap energy, not the other way around, as most here seem to insist. ... And, as predicted decades ago, global production of light crude scheduled to plateau THIS decade has in fact plateaued, and will soon begin to enter terminal and steadily steepening decline. ... We have used over half the oil we're ever going to use in 150 years... The second half of that bell curve will not last 150 more years, because demand is exponentially higher today... Energy affects every sector of the global markets, including lending liquidity and credit, and especially food prices. ... Nothing is ready to replace what light crude provides for modern societies, and won't be for decades. There will be great dislocation and upheaval because of it, and that process has already begun, from Europe, to the Far East to small town U.S.A.

And then, of course, there's always the increased prospect for global war because of this resource depletion, so that could certainly speed up the 10-15 year prognosis.

It's not "big government" that's the real problem, although I will concede that excessive government spending (that doesn't involve progressive energy alternatives) certainly does not help the predicament.

Oh, I'm hardly surprised. I just wanted to give him a chance to think it through.

Correct. "The American way of life is not negotiable." What do you think that ultimately refers to?

It won't be 50 years, more like 10-15. My position on the meltdown of industrial nations is nothing new, and supported more and more with each passing day by everyone from the Joint Chiefs to Oxford University.

http://forumserver.twoplustwo.com/sh...6&postcount=87

For the most up-to-date confirmation, Google about the ASPO conference that just occurred last weekend.

energybulletin.net

Basically, the global economy is dictated by abundant cheap energy, not the other way around... And, as predicted decades ago, global production schedule to plateau THIS decade has in fact done so, and will soon begin to enter terminal and steadily steepening decline. ... We have used over half the oil we're ever going to use in 150 years... The second half of that bell curve will not last 150 more years, because demand is exponentially higher today... Energy affects every sector of the global markets, including lending liquidity and credit, and especially food prices. ... Nothing is ready to replace what light crude provides for modern societies, and won't be for decades. There will be great dislocation and upheaval because of it, and that process has already begun, from Europe, to the Far East to small town U.S.A.

And then, of course, there's always the increased prospect for global war because of this resource depletion, so that could certainly speed up the 10-15 year prognosis.

It's not "big government" that's the real problem, although I will concede that excessive government spending (that doesn't involve progressive energy alternatives) certainly does not help the predicament.

oops... plz kill repeat post

There can be two problems you know.