tfr: “WE still have 1/4 of the world’s food production here in the US.”

… Chinese start starving, conscript everybody into the army … war breaks out as populations try to take control of food producing areas …

I say get the ammo ready. We should, as a country, really look into relocating our armed forces closer to home.

Then what? Every time someone has said “Then we’ll starve”, I have come back with, “But WE still have 1/4 of the world’s food production here in the US. It won’t magically transfer to China.” Where am I wrong here?

Yet common sense dictates its actually not all that hard to see where each bubble forms.

A bubble is unsustainable levels of euphoria resulting in high asset prices.

The tech crash seemed reasonable, since so many tech stocks without any earnings were valued highly only on future earnings guess-timates.

The property collapse, and the general credit market collapse seems reasonable after so much credit expansion and such high property prices.

And clearly, the level of US government debt should be the next domino to fall. China isn’t the only holder of US debt, you’ve also got Russia and the Middle East, both of whom face upcoming budget problems due to falling oil prices.

There may be a game of chicken to see who flinches first, but once one player starts dumping US treasuries, the avalanche will begin.

Glad you brought that up. $54 trillion in unfunded future liabilities. Thats gotta destroy the dollar’s status as the world’s reserve currency.

Reach for your gold.

But until we stop the government borrowing period we will never get this thing under control. This not only includes debt financing but unfunded mandates to the states and counties, and loan guarantess as well. It works so well til one day it doesn’t and it seems that day is here.

How bad ? I dunno but…

Lets not forget that the government is already quite socialist – subsidizing one way or another – Car Companies (which lose money), Airlines (which have never made money) and hence Airplane makers, and Mass Transit (which loses lots and lots of money), and Banks(but only big ones that lose money), Postal Delivery(no comment), Amtrak, NEA, NPR, Milk prices, Corn prices etc. I mean what isnt already subsidized?

Now we are even bailing out moronic Governors like Jennifer Granholm, The Terminator and David Patterson who run their states into the ground and expect others to pay for it.