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Could the US face armageddon?

According to Julian Robertson on CNBC
"It's almost Armageddon if the Japanese and Chinese don't buy our debt,” Robertson said in an interview. "I don't know where we could get the money. I think we've let ourselves get in a terrible situation and I think we ought to try and get out of it."
"The U.S. has to quit spending, cut back, start saving, and scale backward," Robertson said. "Until that happens, I don't think we're anywhere near out of the woods"

Answer Question
 
Carpy

Asked by Carpy at 5:46 PM on Sep. 24, 2009 in Politics & Current Events

Level 39 (114,053 Credits)
Answers (20)
  • While I think there's a lot that will be and needs to elaborated on in regards to Ms. Robertson's statements - on the whole, I believe that what she says about cutting back, savings, halting spending is correct. I don't know what she means by Armageddon; maybe you could expand what she means by that or what you think she means. I do think it's highly risky for us to be owned by another country; it's also highly risky to levy tariffs on those countries you are asking to buy your debt.
    PaceMyself

    Answer by PaceMyself at 5:52 PM on Sep. 24, 2009

  • There is NO MONEY. Thats why Obama needs to get over this UHC and FOCUS on basic reform. He needs to STOP trying to expand govt programs and try and lower the deficit. And I dont care WHO is responsible...OBAMA is the one in power now and HE can get it fixed if HE wants too. HE needs to LEAD (I know...difficult for him) the house an senate that is democratic controlled and get some GOOD done. But they wont :(

    momof030404

    Answer by momof030404 at 5:53 PM on Sep. 24, 2009

  • So is he saying the US is facing the second coming of Christ if the Japanese and Chinese don't buy our debt?
    Anonymous

    Answer by Anonymous at 6:12 PM on Sep. 24, 2009

  • It's not just us, either. We provide support to a good portion of the world.

    So much we can do. Send congress home and key them teleconference. Fire the whitehouse staff and let michelle cook and clean herself. She doesn't need an assistant. Get rid of the six agencies that all do the same thing.

    Take the rest of the last stimulus package and shove it up Reid's, well, you get the picture.
    lovinangels

    Answer by lovinangels at 6:12 PM on Sep. 24, 2009

  • Correct me if I'm wrong, but Armageddon is supposed to be a cataclysmic war, NOT the second coming of Christ (which is called the Rapture).

    Anonymous

    Answer by Anonymous at 6:17 PM on Sep. 24, 2009

  • I hardly think "armageddon" will occur...while I agree that Americans need to quit consuming so much and the White House needs to quit spending so much...
    Anonymous

    Answer by Anonymous at 6:25 PM on Sep. 24, 2009

  • There is plenty of money, and if Obama didn't spend some of it, I wouldn't have kept my job, my dad lost his job but got it back when the CTA got some of the stimulus package. GM would be no longer around and if GM went 100% out of business all the GM dealers all 5000+ of them would have gone with them. GM itself employed over 250,000 people, and the average GM dealership employed 25-50 people . Do the math. (250000+25x5000, 250000+50x5000) anywhere between 375,000 people to 500,000 would have been unemployed if GM went out of business. Not to mention, Ford,Chrysler, Bank of America, AIG and many other companies that employ many people, that Obama helped.
    And before you even bring it up, I was pissed when the CEOs took the money and spent if for themselves. Some paid it back out of their own pockets, but those that didn't should, I my opinion be arrested for money laundering or grand larceny.
    viridian

    Answer by viridian at 6:27 PM on Sep. 24, 2009

  • It's the final battle leading to Christ returning.

    Do you really think this is Armegeddon? Even if America did erupt into civil war, would it be armegeddon? I think no.
    Anonymous

    Answer by Anonymous at 6:27 PM on Sep. 24, 2009

  • If they quit buying our debt our government will come to a grinding halt. They can't run without money. Then there would be a massive domino effect...quite possibly leading to anarchy. We have a very serious situation going on. I am not trying to fear monger either. Just look at what happens when other governments have collapsed.

    "We the people" do need to cut back and start saving. But our government has the responsiblity of leading the way. If they cut back there will be more money to pay off debt and more dollars in the pockets of the American people
    yourspecialkid

    Answer by yourspecialkid at 6:37 PM on Sep. 24, 2009

  • "We the people" do need to cut back and start saving. But our government has the responsiblity of leading the way. If they cut back there will be more money to pay off debt and more dollars in the pockets of the American people"
    true, but if how can they make money to pay us back or pay off debt without investing into companies. i.e. The US Treasury and Canada own the majority of GM, thus making a profit off of them.
    viridian

    Answer by viridian at 6:42 PM on Sep. 24, 2009

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