Poll:When will the banking system collapse?

[snakenobi]

nanarchy said:

The US banking bailout from memory was in the order of 700 billion,some of which they do get back through assets,

it was way more than$700b

US government had to bail out banks and real estate industry.they get it back through assets but those assets are supposed to be sold and invested in the economy which never happened aka the unemployment rate of 20% in USA today

plus they are getting into wars,still................hehe

now they are trying to get into a war with iran

plus US loans out money

plus US has to pay interest on loans

since the recession,USA has spend close to $5trillion in bailouts,wars,lending,etc

 

current US debt is nearly 15 trillion dollars and rising. The banks greed and idiocy and bailout didn't help the situation

bailout are not supposed to be there

if a company knows bailouts are there then they will keep explointing

they turn free market capitalism into corporatism

but even with a perfect banking system the US would still be circling the drain pipe with massive debt.

HOW?

the perfect banking system is free market which is what USA was built on free market and liberal economy

what perfect banking system in ur eyes?

defaulting is really not a viable option, yes they could do it but they would completely wreck the US economy

it will happen or a devaluation will happen or wars will happen or economic slavery of USA and entire europe will happen

building more debt is wrecking the US and world economy as we speak.US debt ceiling was raise from $14trillion this past august to $16.5trillion

people are standing up and saying why are they paying somebody's fault and why they keep getting bailed out

and businesses, really the only option soon will e increased taxes for everyone and massive services and military cuts.

if you increase taxes then investment will decline.it ha its counter effects and people will be enslaved economically with low income which will wreck the US eoconomy too.

what you are not understanding is principle that people will not tolerate they having to pay for somebody's bad decisions,the bankers and elite