Quote:
Originally Posted by TOKYO ROSE
3. America will be reduced to a third world country THIS YEAR.
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I just wanted to address this one. Third world countries are countries that have basically no infrastructure: no roads, no electrical grid, no phone grid, no working postal system, etc. We already have that in the US, Mexico, and Canada.
The same could have been said for the former USSR. They were very much in the same situation we are in now. They had a complete collapse of their economy (much like we talk about as potentials with hyperinflation and dollar devaluation) and they did not have a complete meltdown. People just got creative and found "alternative" ways to do things. Yes, it was very hard for most people. Yes, most people dropped their standard of living.
But they did not revert to "third-world" conditions. Today, we are so much more sophisticated technologically. We can do more with less because of the tech.
I think the economy is going to fall and someday it will hit the bottom really hard, but we're not going to be the 3rd world.
--sjkted