What is Digg?Sponsored by Dragon Age: Origins
See the new YouTube feature trailer for Dragon Age: Origins view!
youtube.com/DragonAge - EA presents BioWare's new dark fantasy epic Dragon Age: Origins. '9/10' from Game Informer.
422 Comments
- inactive, on 08/17/2008, -20/+249Thanks Baby Boomers, for taking one of the World's strongest and richest countries and turning it into garbage. Baby Boomers in their short time in charge have taken the U.S. from the largest creditor nation to the World's largest debtor nation. Now you are leaving the next generations your multi TRILLION dollar debt, Global Warming, and a neglected decaying infrastructure. And now you want us to pay for your health care also? It will take generations just to fix the mess that the Baby Boomer generation has done.
- TheWriteGuy, on 08/16/2008, -7/+126From the end of the article:
“A good third of the regional banks won’t make it,” he predicted. In turn, these bailouts will add hundreds of billions of dollars to an already gargantuan federal debt, and someone, somewhere, is going to have to finance that debt, along with all the other debt accumulated by consumers and corporations. “Our biggest financiers are China, Russia and the gulf states,” Roubini noted. “These are rivals, not allies.”
The United States, Roubini went on, will likely muddle through the crisis but will emerge from it a different nation, with a different place in the world. “Once you run current-account deficits, you depend on the kindness of strangers,” he said, pausing to let out a resigned sigh. “This might be the beginning of the end of the American empire.” - holzp, on 08/17/2008, -12/+103I'm with you, what does that guy know? Harvard, Yale, Columbia? Pfft! He's never even posted on Digg once!
- z95headhunter, on 08/17/2008, -16/+91The end of the American empire will result in a total collapse of the global economy, so this is not just the United States' problem.
- LetsGoHokies, on 08/17/2008, -3/+76Maybe it's a wake up call for us to stop trying to solve everyone's problems and focus on our own.
- TheTaoOfBill, on 08/17/2008, -19/+85To be honest I'm welcoming the end of the American empire. I doubt we will get knocked down too far as we are the most resource rich nation in the world. But America definitely needs to become a little more humble. And if we have to go through a decade of tough times to make it happen that's what we need to do.
Not saying i'd enjoy it. I'm just saying there is a lesson to be learned here that America refuses to learn any other way than the hard way. And if that's the way it has to be... - Seidoger, on 08/17/2008, -5/+58The United States (yes, it does sound like an Empire by now, has been ever since after WWII) always somehow found a way to rebuilt and restart itself. It happened many times. It will happen again, I'm pretty sure. Could have a cost, though. But that's actually one of the forces of the US, I think.
(Btw, I'm not American, just stating what I see.
Even though I'm not a fan of many things brewed in and by the US government, I don't want to see it fall!) - TBBucs, on 08/17/2008, -16/+67I never realized how badly NY Times needs to redesign their website until just now.
- TheWriteGuy, on 08/16/2008, -22/+71Non-login link:
http://www.nytimes.com/2008/08/17/magazine/17pessi ... - hoopy22, on 08/17/2008, -3/+47For those of you old enough to remember, there was a Savings and Loan crash 25 -30 years ago. Same predictions were made then too. Newspapers don't sell if the headline is "All Is Well". But they do sell when the headline is "THE SKY IS FALLING!!!!"
The truth is somewhere between these two headlines. - inactive, on 08/17/2008, -17/+55I agree. Ignorance is really the issue with the baby boomers. They bought into the idea that government should coddle them from cradle to grave. So much for that idea right? Now they want to continue it as if our economic problems will go away.
The key is to start educating kids and letting them know government is not their friend and shouldn't be relied upon. Small government works, large ones cause problems which are compounded till they eventually fail. - peticsu, on 08/17/2008, -8/+44keep pretending like its all fine...
ignorance is bliss - Leadman584, on 08/17/2008, -4/+39Gee, and I heard the exact same message from Ron Paul last year. Everyone laughed at the crazy old Dr. during the debates. He called out McCain for clarification on the Presidents working group on finance. You know, the Plunge Protection Team that worked around the clock to forge the Bear Stearns bailout. McCain, totally clueless, called for "More Sunshine".
- orlyfactor, on 08/17/2008, -12/+44Just because he was right about some of his predictions is not an indicator that ALL of them will come true.
- kierucom, on 08/17/2008, -5/+36Interesting article... I was surprised when he claimed China to be our largest financier when Japan has 92 Billion on them.
Source: http://en.wikipedia.org/wiki/United_States_public_ ... - thereisnostate, on 08/17/2008, -11/+40It's also the beginning of the end for the New York Times http://blog.wired.com/business/2008/07/media-death ...
- S5S5S5, on 08/17/2008, -7/+35“But we have problems with credit-card debt, student-loan debt, auto loans, commercial real estate loans, home-equity loans, corporate debt and loans that financed leveraged buyouts.”
Not that the article wasn't pessimistic enough, don't forget huge current and future federal and state debts. - inactive, on 08/17/2008, -1/+28it's not a research paper, it's a post. Wikipedia cites to -> http://www.treas.gov/tic/mfh.txt op did nothing wrong
- ScienceDoc, on 08/17/2008, -60/+86The neocons win! Thanks Republicans for destroying our Country. It all began with the Great Fornicator Ronald Reagan and ended with the incompetent puppet we have now. A vote for McSame is a vote for self-destruction.
- holzp, on 08/17/2008, -6/+30We screw em on the way up, we screw em on the way down.
- inactive, on 08/17/2008, -0/+22Well... communism kinda rose, but it wasn't really true marxist communism - it immediately devolved into a plain old totalitarian dictatorship, instead of a utopia.
- Seldon2639, on 08/17/2008, -2/+22FTFA:
"Roubini was known to be a perpetual pessimist, what economists call a “permabear.” When the economist Anirvan Banerji delivered his response to Roubini’s talk, he noted that Roubini’s predictions did not make use of mathematical models and dismissed his hunches as those of a career naysayer."
Even a stopped clock is right twice a day. But, here’s the thing to keep in mind: if you had followed his advice, and bet against the market (buying short sells on all the biggest financial firms), right from when he started these predictions, you would have lost an enormous amount of money, even including any money made from shorting right before the crash.
The cool thing about betting against the market (as an economist, rather than an investor, at least) is that you’ll always eventually be right. I’m not saying he’s necessarily incorrect, merely that being a seer requires more than making the same prediction over and over again, and eventually being right. Remember, Cassandra (the mythical women who could see the future, but was cursed to have no one listen to her) wasn’t just right about the fall of Greece, but about many other events preceding it.
But, here are a few facts. America is still the largest economy, and is still growing at a rate which means that in sheer dollar volume, it grows faster than any other individual economy(remember, 5% of a 10 trillion dollar economy is equivalent to 15% of a 3 trillion dollar one. China needs to grow almost five times faster (U.S is almost $14 trillion, China is about $3 trillion) than the U.S in order to just keep up). America has a still growing economy, and a relatively low unemployment rate. Not to mention the fact that China has a vested interest in America’s continual growth and strength. If the dollar is worth less, China’s reserve of American debt is also worth less.
Finally, look at the problems China will run into as it modernizes: pollution (evidenced by the Olympic pictures), labor unions, demand for greater access to wealth, demands by their domestic population for freedom, among many other issues America has already faced and overcome.
It’s not a slam dunk for China, not by a long shot. - dafragsta, on 08/17/2008, -22/+40Psst. We are still #2 in world production and manufacturing with a GDP in the TRILLIONS. We have eyes too big for our stomachs, but the US DOES produce. In addition to that, if the US falls, all those countries listed as creditors are just like the banks that loaned the money to the sub-prime home buyers. They'll feel a mighty ripple effect. My theory is that our currency is going to bare the brunt.
- frascellyboy273, on 08/17/2008, -10/+28http://en.wikipedia.org/wiki/List_of_countries_by_ ...
nuff said - tim04, on 08/17/2008, -4/+22that's only a theory. The collapse of the American economy may temporarily lead to a global recession, but many countries will soon see opportunities in areas once dominated by American corporations.
- dmoore764, on 08/17/2008, -0/+17I think they offered that Simpsons course though
- Picard102, on 08/17/2008, -8/+25China.
- inactive, on 08/17/2008, -7/+24The US will not be undone by economic issues which are just a byproduct of the deeper problem - a growing ignorant, deluded complacent and poorly educated populace. I wonder if Americans have any idea how rediculous things like yesterdays religious based canidate questioning make them look.
- jhails, on 08/17/2008, -9/+26Yes but what about Britney Spears?
- Threlly1, on 08/17/2008, -15/+30Not really an Empire, more of an 'Imperial Fog', but still, no single nation domination of the Worlds economy has ever survived.
All things end.
After all, you don't hear much about the Persians, Romans, Turks or even the British Empire any more.
More intrestingly, who will usurp the U.S ? - LilRabbitFooFoo, on 08/17/2008, -3/+18Actually, it started with Nixon...
And there was a Bush, Cheney, and Rumsfeld in each of these administrations. None of this happened by accident, folks. America has been systematically milked for 40 years by people who knew very much what they were doing and why. - MrHappy123, on 08/17/2008, -7/+22Many do not realize this, but hey... 'Ignorance is Bliss'
- z95headhunter, on 08/17/2008, -7/+21Until they realized how ***** they are without America
- zeptobyte, on 08/17/2008, -1/+15Well communism sure did rise, so I'd say it went pretty well. Of course, whether communism succeeded or not is a different issue.. But it did rise.
- bullhead2007, on 08/17/2008, -6/+20This isn't about political parties anymore. This is about CFR's who are in the pockets of the world banks/The Fed. Now that The Fed and banks like JP Morgan/Chase own all of our property, they're dissolving and forcing regional banks to collapse. Just like in 1930. It's happened before and it's happening again.
- YellowStar, on 08/17/2008, -3/+16This isn't about being anti- American at all. It's about helping America recognize it faces a very financial serious problem. I don't care if you are a single person, a family, a commune, a country or a corporation -- if you earn x dollars per year but spend 100 times x dollars per year -- you are eventually going to go under. Don't blame the messengers.
- gemlarin, on 08/17/2008, -7/+20***** Baby Boomers. Yeah Mom and Dad, ***** you. Your Blind Ignorant Consumerist big government attitude ***** this nation and this world for me, my children, and my childrens children long after you are gone. And you dare criticize gen X and Y. Take your hippie loving asses and get bent.
- infiniphunk, on 08/17/2008, -0/+12LEAVE BRITNEY ALONE!!!!!!!!!!
- inactive, on 08/17/2008, -4/+16Nostradamus was "right" occasionally as well. So is a broken watch.
- seanof, on 08/17/2008, -0/+12He may be talking about the amount of new debt being purchased rather then the amount owned.
- inactive, on 08/17/2008, -30/+42Don't forget that Democrats were involved as well. When will you people realize that the left-right paradigm is only meant to divide and conquer? McCain or Obama will continue the downward spiral. This country is being destroyed by design. By 2010 this country will probably be in total lockdown.
- KDX200rider, on 08/17/2008, -1/+12I think the NYT along with most of the other print media giants are the real dying empire.
- alfredomancho, on 08/17/2008, -0/+11Whose problems are you solving? Bringing "democracy" to Iraq? Spreading propaganda about the conflict in Georgia? Stop deluding yourselves for *****'s sake. This is the mindset of the typical ignorant individual finding a scapegoat for the problems caused by no one but themselves.
- kazamx, on 08/17/2008, -3/+14@mzx639
Are you sure no one will overtake the US in our lifetimes? At the turn of the last century the British Empire was at its height and controlled most of the world and had massive influence over the rest.
Two world wars and 50 years later and the Empire was gone and the UK was in massive debt and 20 years after that had to beg the EU for money when it almost went bust.
Things can change much faster than you think. - inactive, on 08/17/2008, -3/+14@4d669
And China ends the following day.
Also we could just pull a Brazil and say, those debts are from the old government, this is new and not pay. - Optiks, on 08/17/2008, -2/+12Wikipedia isn't always wrong. I used it often for research papers when I was low on ideas and needed to brainstorm on short notice.
You just need to be vigilant when checking the original citations, see if you can find a corroborating source, and check an article's revision history to be sure you don't get swept up in collateral misinformation. - SkinnerBox, on 08/17/2008, -6/+16But europe couldn't possibly pass us economically. They're a bunch of socialists and I've always been taught that that doesn't work.
- inactive, on 08/17/2008, -11/+20"....“This might be the beginning of the end of the American empire.” ..."
And the America haters and the rest of the world shouted in unison; "AMEN!" -
Show 51 - 100 of 437 discussions
Catch all of your favorite Digg shows in one place, including Digg Dialoggs, Diggnation, The Digg Reel and More!
© Digg Inc. 2009
— Content created and posted by Digg users is