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Gregg: 'We're going to be like a banana republic in 10 years

hypocritexposer

Well-known member
August 4, 2009
Gregg: 'We're going to be like a banana republic in 10 years'
@ 8:53 am by Michael O'Brien

The U.S. will resemble a "banana republic" in 10 years if its fiscal situation stays on the same track, Sen. Judd Gregg (R-N.H.) warned Tuesday.

Gregg, the ranking member of the Senate Budget Committee, asserted that programs like "cash for clunkers" would pile up to as much as 80 percent of the total U.S. economic output because of federal spending.

"We're going to be like a banana republic in 10 years!" Gregg said during a panel discussion on CNBC. "Sure, Americans want the program. But if you stop and think about it, is it right to do for our children?"

http://briefingroom.thehill.com/2009/08/04/gregg-were-going-to-be-like-a-banana-republic-in-10-years/
 

don

Well-known member
i think it's too late. the western economies don't have the resources to fix their own messes. roubini said we might be out of this recession around the end of the year but could well slip back into recession about a year later because of higher energy prices, government debt and unemployment. my guess is if it plays out that way that will be the big one.
 

hypocritexposer

Well-known member
we're on the same page on this one.

but at some point we got to stop the bleeding. I fear they'll bust the bank and then reset with a global currency.
 

don

Well-known member
a different benchmark currency would be a normal thing as economic power shifts around the world. we're entering the post american world. i agree with fareed zakaria. the usa will not be impoverished or devatated but other countries will assume leadership roles, at least economically. europe outgrew its resources in the last century and america is finding out it is going to have to adjust its economy in order to be sustainable.
 

hypocritexposer

Well-known member
the new benchmark currency became a reality at the G20 meeting, it will be the final step in a more Global Governance. (Financial, Health, Trade, Military etc) Everything else is already in place. (WHO, WTO, UN, IMF etc)

as far as I'm concerned, it will happen no matter what. But they do not have to be so secretive/deceptive about it.

educate people, let them know what is happening. surprise will only bring panic. The days of slowly progressing towards this are over.

the US citizens are one of the final barriers (Middle East being the other). once they have somewhat universal healthcare, global tax (cap and trade), it will put most those that are to be included on a more equal footing.

Call it the NWO, or whatever you want, it's happening, and the loss of freedom, individualism/soveirgnty and liberty are scaring the crap out of some.

hopefully we can keep this thread civil, going good so far.
 

don

Well-known member
i think you want to see too many conspiracies. a country can maintain a fair degree of autonomy and still be sustainable. some of the smaller european countries have good standards of living while maintaining their own foreign policices. the large global corps would like to see a one world govt. but it is up to the people. if america (or anybody else) insists on living beyond its means (physical and financial) it will lose its independence. that's what's been happening the last thirty years. a return to creativity and innovation and a realization that energy conservation is vital would help america get back on its feet.
 

hypocritexposer

Well-known member
it wouldn't be a conspiracy if it is all done legally..

I don't think total autonomy would be lost. But management would be regulated more universally, than it is now.

Foreign Policy is somewhat already controlled by the UN, is it not?

and on the energy, I totally agree. But at present there are too many options not being looked at in North America (nuclear). so called Green isn't going to cut it, it will not keep up with increased demand. Maybe in the next few years a new technology will come around, but until it does, realistic substitutes must be planned and begun.
 
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