Is the US destined for social & economic collapse?

[Default0ptions]

The US is pretty much bankrupt:

“US To Borrow $1.5 Trillion In Debt This & Next Quarter, After Borrowing A Massive $1 Trillion Last Quarter”

https://www.zerohedge.com/markets/us-bo ... st-quarter

Ultimately debts that can’t be repaid won’t be repaid.

The US is running a substantial trade deficit:

“ The balance of trade of the United States moved into substantial deficit from the late 1990s, especially with China and other Asian countries. This has been accompanied by a relatively low savings ratio and high levels of government and corporate debt”

https://en.m.wikipedia.org/wiki/United_ ... e_of_trade

Contrary to American popular belief the US is a net importer of crude oil:

“ U.S. total energy imports increased slightly in 2022—from 21.46 quads to 21.47 quads. U.S. crude oil imports and exports both increased in 2022, and the United States remained a net crude oil importer. ”

https://www.eia.gov/energyexplained/us- ... xports.php

Add completely out of control immigration from its open border that is overwhelming even the ‘sanctuary cities’ and . . .

Doesn’t really look good in the long run

[johnny]

Contrary to American popular belief the US is a net importer of crude oil:
“ U.S. total energy imports increased slightly in 2022—from 21.46 quads to 21.47 quads. U.S. crude oil imports and exports both increased in 2022, and the United States remained a net crude oil importer. ”

Oil smoil. Cherry picking for a reason obviously. Like oil is the only commodity that matters for the only current global hyperpower. Small minds from small countries think that way. Now go on about your unaffordable and rationed energy this winter because your government chooses it for you.

"The United States has been an annual net total energy exporter since 2019"
https://www.eia.gov/energyexplained/us- ... xports.php

[Ralphw2]

When this site was set up the US was importing a large fraction of its oil and energy. The shale oil development has reversed more than two decades of oil and gas production decline. However, shale well production declines far faster in the first few years than conventional wells. The dramatic rise in production has been entirely the result of massive, and accelerating levels of oil well drilling, and when the economic plays have been drilled out, the us will find its oil production fall at a rate similar to a Seneca cliff. This is not to say that the US has many other natural resources still to exploit, but this current oil boom has delayed the transition away from gas guzzlers that 90% of the population seem to equate with their mothers honour. The shale oil peak may well have already passed. Of course, oil will still go to the highest bidder, but the EU transport infrastructure will be in a far better place to absorb the shock.

The US bankruptcy is a technicality. When you owe the banks 30 trillion dollars, the banks have a problem, not you. Especially if you are the worlds largest military.

[Default0ptions]

The US bankruptcy is a technicality. When you owe the banks 30 trillion dollars, the banks have a problem, not you. Especially if you are the worlds largest military.

Dr Tim Morgan at Surplus Energy Economics has an article that is fairly relevant here:

“ The reality is staring us in the face – “growth”, whether in America, China or anywhere else – has become sleight-of-hand. If you look for real growth – growth, that is, not manufactured using super-rapid debt and quasi-debt expansion, itself enabled by sub-inflation interest rates – you won’t find it anywhere. Behind various schemes in which the speed of the hand deceives the eye, the global economy has inflected from growth into contraction.”

https://surplusenergyeconomics.wordpres ... e-economy/

[Ralphw2]

All I have to say to you is

Nate Hagens

[clv101]

Definition of collapse? The super-exponential irreversible decline of the capacity to consume primary energy resources?

[UndercoverElephant]

Definition of collapse? The super-exponential irreversible decline of the capacity to consume primary energy resources?

For me "collapse" just means non-management of the post-growth era. Which is pretty much inevitable until such time as the need for post-growth economics is acknowledged. I suspect the US may be slow on the uptake in this respect.

[clv101]

You might like this interview with John Grey: https://youtu.be/6rsGkfngA5M?si=ALCfJmC6LcVT4z-R

[Default0ptions]

Contrary to American popular belief the US is a net importer of crude oil

Oil smoil. Cherry picking for a reason obviously. Like oil is the only commodity that matters for the only current global hyperpower. Small minds from small countries think that way

Q.E.D.

[Default0ptions]

Johnny: “the only current global hyperpower”

“USA: Most Citizens in 3rd World Conditions”

https://hlrn.org/activitydetails.php?id=pmptaQ==

[BritDownUnder]

I think the disappearance of the Middle Classes is not restricted to the USA.

The UK is not doing too well either, possibly even other countries in Europe too.

For me the main problem is the ever increasing slice of wealth being captured by the super rich mainly due to overspending and lack of savings and investments amongst the middle classes.

[johnny]

All I have to say to you is
Nate Hagens

What does yet another discredited McPeakster have to do with anything?

My response in this vein is...Art Berman. You can counter with Colin Campbell. I would riposte with Jean Laherrere. The counter would be Dr. Bob Hirsh. Followed by Mike Ruppert. After the laughter from that one does down we can reference Matt Simmons. Jeff Brown. And then riotous laughter over Matt Savinar and David Hughes. Or giggles...either works.

[johnny]

Johnny: “the only current global hyperpower”

“USA: Most Citizens in 3rd World Conditions”

https://hlrn.org/activitydetails.php?id=pmptaQ==

You obviously haven't been running around the US as of late.

[Default0ptions]

Johnny: “the only current global hyperpower”

“USA: Most Citizens in 3rd World Conditions”

https://hlrn.org/activitydetails.php?id=pmptaQ==

You obviously haven't been running around the US as of late.

“This is a list of notable tent cities in the United States. A tent city is an encampment or housing facility made using tents or other temporary structures.”

https://en.m.wikipedia.org/wiki/List_of ... ted_States

[BritDownUnder]

That's quite a list of tent cities there.

I did read in the FT that Swifties in the US are spending per person about $1,200 on attending a performance of her Eras tour. I guess you would need to live in a tent if go and blow that on a night out too often.

I once slept in my car in the US on the last night of my time at university before getting a flight out of there. I saved about $120 on a motel room and was very pleased not to get shot in a drive-by gang shooting.

My main worry about the US is the level of drug usage and that the authorities need to get tough on the importers and dealers.