[Ibrattnofich]

This is a real problem, because. Where does a system like this go from here? It can't continue, because we can't afford it.. It could..

1) Try massive inflation.. Which won't work, and would be more crippling in real terms than austerity.. I mean, imagine there is no oil? It doesn't matter how much you drill, you can't afford your own products.Even the most ridiculous currencies look as credible as the dollar.. You're in a nation of farmers, but can't afford to eat?

2) Go to war.. Jinn up a conflict with China, repudiate their part of the debt and inflate. Likely ending up in a worse condition than you began... Because WWII was a special set of circumstances, and it permitted us to emerge victorious in many ways. The war didn't "save us" but the circumstances of and before the war certainly helped!

3) Austerity.. This is the best choice, but also the most unlikely. The biggest reason is illustrated at about 2:35 into the video. All of this could be fixed tomorrow if everyone would take their medicine today. But nobody is going to do that.

4) Totalitarianism... There's a growing number of (ahem) "elite" thinkers like Tom Friedman who believe our model has run its course.. and a centrally planned economy (not unlike china's) is capable of far more, and faster, growth. This idea necessitates the curtailment, if not outright removal, of the democratic element.. Limited property ownership and consumerism = "freedom" under such a model. They point at China's wild growth as proof of their thesis. NOTE: They will find allies among the many corporations Conservatives routinely defend.. Remember the Business Plot? That wouldn't have been possible with this type of support. A global government would also fall under this category. And there's always proponents for that.

5) Collapse and restructuring. A very likely outcome. A crony congress and a stupid America continue to fiddle at the margins till forces beyond their control force a realignment. The problem: We'll never come out of this as good as we went into it. Also, the same crony forces will still be at play during any re-shuffle... So, it's doubtful meaningful reform and a clean slate will be the result. More likely is a network of band aids and whatever Austerity it takes to get by.. Powerful political forces will have to take less of a blow than weaker ones, of course. Growth will suck. The government won't go away.. It's not a panacea.

6) Some type of synthesis. We try to eat up Canada and Mexico by treaty, restructure, issue a common currency and compete.. They float variations on this from time to time. Looks very much like an EU style mess. Think DC doesn't listen to you now? Wait till you're one voice in the all of North America.. We'll lose freedoms and the end result will be so top heavy it will strongly resemble the totalitarian model, above. There's also the question of WHY countries like Canada and others would want to chain themselves to an America in free fall. In practice it would probably work about as well as the blind leading the stupid.. But I bet it's a very likely final destination, anyway. This is an attractive prospect. It enhances power and puts more people (and their resources) under government control..a government bigger than anything any of us have ever imagined.. That's going to be pretty fucking attractive to a lot of people who would be in on the ground floor. Sovereignty means so little these days..