Reply #73: Well, I've been moaning about the debt problem for years....

[TreasonousBastard]

long before it was popular. Been moaning about a few other things, too, like how buying a home or car isn't an option any more, so we are forced into debt whether we like it or not. And using debt and leverage not to build capital, but to build paper profits and cover present expenses.

But, I don't question whether or not there's too much public and private debt-- that's a given. I ask just what can we do about it at this point?

"You know, you really shouldn't have stuck your hand in the fire." That's great advice, a but a little late and doesn't treat the burn.

So, how far will the world's economy collapse, and how far will ours? No one knows, of course, but everyone has a plan to slow down or, hopefully stop, the collapse. Mostly, it means propping up the system and going along like we have been and hoping for the best.

What happens if and when it collapses? That's a little easier to answer, since we've seen collapses before. Biggest problem isn't the stock market, bank failures, housing prices, or 401Ks-- biggest problem is feeding, clothing, and housing 6 billion people. Everything's gone to shit and we all have little shacks to live in, a daily gruel ration, there's electricity most of the time and the hospitals still work. Not what we expected growing up, but as long as the place isn't run by warlords, it's as good a time as any to reconsider just what society is all about. And catch up on some reading.

Ya see, it has occurred to me that there isn't one damn thing I can do to significantly influence the future so I can't be bothered worrying about it-- I worry about what little I can influence.