milan
This is an article on Bloomberg - what is your take?No politics for me, I'd like to see if in your heart of heart there's fear that the probability of the prediction below could happen and if it does, what would the world's reaction be? How would that affect Bali? Regardless of Obama or no Obama. [u]Russian Professor Says U.S. Will Break Up After Economic Crisis[/u]By Robin StringerNov. 24. A professor at the diplomatic academy of Russia's Ministry of Foreign Affairs said the U.S. will break into six parts because of the nation's financial crisis. "The dollar isn't secured by anything," Igor Panarin said in an interview transcribed by Russian newspaper Izvestia today. "The country's foreign debt has grown like an avalanche; this is a pyramid, which has to collapse." Panarin said in the interview that the financial crisis will worsen, unemployment will rise and people will lose their savings -- factors that will cause the country's breakup. "Dissatisfaction is growing, and it is only being held back at the moment by the elections, and the hope" that President- elect Barack Obama "can work miracles," he said. "But when spring comes, it will be clear that there are no miracles." The U.S. will fracture into six parts: the Pacific coast; the South; Texas; the Atlantic coast, central states and the northern states. "Now we will see a change to the regulatory system on a global financial scale: America will cease to be the world's regulator," to be replaced by China and Russia, he said.
SG
Well you know you could argue this in some detail, taking it point by point, but why bother when one word will suffice:Twaddle.
milan
Hope it's nonsense.
Markit
My take is Total Bullshit - whoever thought that up hasn't been there, hasn't ever talked to an American or read an American paper and should consult his doctor about changing his medication. Sorry to be so vehement but I'd love to hear from this Russian Professor what he thinks is holding Russia together :D
SG
Sorry to be so vehement but I'd love to hear from this Russian Professor what he thinks is holding Russia together :D[/quote]There is that of course and with the oil price tumbling I'd say less that a few weeks back.[url=http://www.ritholtz.com/blog/2008/11/big-bailouts-bigger-bucks/]This[/url] is rather interesting though:The only single American event in history that even comes close to matching the cost of the credit crisis is World War II: Original Cost: $288 billion, Inflation Adjusted Cost: $3.6 trillionThe $4.6165 trillion dollars committed so far is about a trillion dollars ($979 billion dollars) greater than the entire cost of World War II borne by the United States: $3.6 trillion, adjusted for inflation (original cost was $288 billion).Go figure: WWII was a relative bargain.[/quote]America will survive but it needs to come to terms with the fact that it's insolvent (and other nations need to come to terms with the fact that those bits of US Bond paper they've been holding onto in some fairytale hope that it will all be ok, are essentially worthless).And Don, before you start rabbiting on again, this has nothing to do with socialism / Jews / the rise of big government or any other hobby horse you've bumped yourself onto..quite the opposite in fact.Does Obama realise this? I hope so..he certainly has more of a grasp on the economic realities that America faces than McPalin would've as they clung onto past glories and myths.Interesting times indeed. Myself, I think Indonesia is shakier than it admits. The first bank collapse was last week and if you read between the lines in the various media either they are avoiding this publicly or they are letting out bits very gradually. Certainly an IDR / USD crossrate of close to 13.000 is a massive problem
Jimbo
I thought the USA was already broken down into 50 parts let alone 6 but then united by a federal government. Personally I cannot see the logic in that it will broken into 6 unified parts....makes no sense to me but I have no doubt it will be explained to me in words I cannot fail to understand.
SG
I thought the USA was already broken down into 50 parts let alone 6 but then united by a federal government. Personally I cannot see the logic in that it will broken into 6 unified parts....makes no sense to me but I have no doubt it will be explained to me in words I cannot fail to understand.[/quote]The argument is that it will broken into 6 independent Federal governments I think.
webmaster705
Not interested in the political issues. More interested in the guy who threw the shoes and what happened to him afterwords....anyone know???
Jimbo
Not interested in the political issues. More interested in the guy who threw the shoes and what happened to him afterwords....anyone know???[/QUOTE] He got put in prison for a short while and then released
