Posts by ruggedgull36

wearytrucker22 said:The IMF is strictly a last resort. They don't just show up if a country can manage its own debt on the open market.

Not necessarily... you can always go ahead and ask for help or set up an arrangement in advance. But, looking at how things have gone so far, absolutely nothing has been done to stop this debt from spiraling—so we're going to need some much more radical solutions.

Just to put this into perspective—Slovakia, which is also a transitional economy, pays interest at about 1%, while we're paying many times that amount.

It’s obvious we can't keep going like this for much longer.

The forecast? A potential bankruptcy, living at the very bottom of the EU, maybe scraping by with 1% growth...

Nicholas Ross38 said:The IMF in America—what’s their deal lately? The International Monetary Fund is apparently losing sleep over the fact that the US is still stuck in this recessionary funk. They're pointing fingers at our uncompetitive exports, corporate debt levels, and the massive mountain of public sector debt. I guess they're worried. Are you guys actually ready for whatever austerity measures and "reforms" the IMF decides to throw our way? How are you planning to stay off their radar when the crackdown hits?

Yeah, because we need some brutal cuts to the public sector and the government... and without the IMF, it’s just not going to happen.

We could have handled this ourselves, but clearly, we haven't done a damn thing. The finger-pointing just keeps going, while the national debt is pushing toward 100% and the economy is basically in freefall...

Our interest payments are way higher than Greece's, and our debt maturity is shorter too. Right now, we're essentially the riskiest country in the EU—aside from Greece—that isn't even properly accessing the markets.

With zero percent growth, interest rates are going to slowly start drowning us... and once the Fed hikes them up, the tidal wave is coming.

Slashing the size of the state is only one piece of the puzzle; we need to fix the entire tax system and everything else...