$700,000,000,000.00

[Leto729]

Iceland is going Bankrupt.

http://www.midco.net/news/read.php?ps=1012&rip_id=%3CD93LRO8O1%40news.ap.org%3E&_LT=HOME_LARSDCCLM_UNEWS

[ProfessorFarnsworth]

Pakistan might be going bankrupt too:

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3147266/Pakistan-facing-bankruptcy.html

Bear in mind also that if Pakistan goes bankrupt, it will likely destabilize security in the entire region.

[Leto729]

It is the start of the Fall of Capitalism.

[Pyraxis]

It is the start of the Fall of Capitalism.

What do you think will replace it?

[ProfessorFarnsworth]

It is the start of the Fall of Capitalism.

And the age of Enterprise Totalitarianism begins as Capitalism dies...

[Leto729]

It is the start of the Fall of Capitalism.

What do you think will replace it?

Might have to go back to the barter system. Get something for equal trade.

[Christopher McCandless]

It is the start of the Fall of Capitalism.

What do you think will replace it?

Might have to go back to the barter system. Get something for equal trade.

That really would be awful. I think Currency is here to stay, just that world economic policies are hopefully going to be a lot more socialist and involve less risk.

[Peter]

Pakistan might be going bankrupt too:

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3147266/Pakistan-facing-bankruptcy.html

Bear in mind also that if Pakistan goes bankrupt, it will likely destabilize security in the entire region.

Yeah, they might turn into a military dictatorship that's plagued by Muslim extremists, and threaten India with nuclear weapons.

[klox]

It is the start of the Fall of Capitalism.

What do you think will replace it?

Might have to go back to the barter system. Get something for equal trade.

That really would be awful. I think Currency is here to stay, just that world economic policies are hopefully going to be a lot more socialist and involve less risk.

I highly doubt that capitalism and globalisation is suddenly going to go away. All you need do is study some economic history. These exact problems that we are seeing now, have occurred before, although of course not on quite the same scale.

I think there will be more pain yet as we reach the bottom, and then things will start to correct. I also agree with the above comment that a more socialistic approach will be seen in future with lowered risk and therefore more subdued growth. Capitalism is the most quality of life increasing model the world has yet had. Sure it creates some unfortunate disparity between the rich and the poor, but overall it has raised quality of life for most in the developed world. Personally I would hate to go back to a barter system, possibly even subsistance farming too in that case. The major problem with it is that it relies on a co-incidence of wants, where as with a fiat money system, this becomes a non-issue. Perhaps you need some more rice just for one night, yet all you have to trade with a few live animals. You can't really pay for the extra rice by chopping the leg off a healthy animal to use as payment. Well you can, but it's not useful and lowers the life and value of a animal as a whole. Hence the other nice thing about fiat money - store of value.

[klox]

By the way I recommend this DVD series, for a quick run down of economic history around the world. It's not perfect and quite simplistic in some places, but it gives you a good idea.

http://www.pbs.org/wgbh/commandingheights/hi/index.html

[Christopher McCandless]

It is the start of the Fall of Capitalism.

What do you think will replace it?

Might have to go back to the barter system. Get something for equal trade.

That really would be awful. I think Currency is here to stay, just that world economic policies are hopefully going to be a lot more socialist and involve less risk.

I highly doubt that capitalism and globalisation is suddenly going to go away. All you need do is study some economic history. These exact problems that we are seeing now, have occurred before, although of course not on quite the same scale.

I think there will be more pain yet as we reach the bottom, and then things will start to correct. I also agree with the above comment that a more socialistic approach will be seen in future with lowered risk and therefore more subdued growth. Capitalism is the most quality of life increasing model the world has yet had. Sure it creates some unfortunate disparity between the rich and the poor, but overall it has raised quality of life for most in the developed world. Personally I would hate to go back to a barter system, possibly even subsistance farming too in that case. The major problem with it is that it relies on a co-incidence of wants, where as with a fiat money system, this becomes a non-issue. Perhaps you need some more rice just for one night, yet all you have to trade with a few live animals. You can't really pay for the extra rice by chopping the leg off a healthy animal to use as payment. Well you can, but it's not useful and lowers the life and value of a animal as a whole. Hence the other nice thing about fiat money - store of value.

I agree with you here, though Capitalism and Socialism can co-exist together to an extent. The DVD's sound interesting, I might watch them if I get chance.

[Trigger 11]

And Stocks still keep falling.
Even around the World too.

I won't even open the letters from my IRA anymore

You're on the Irish Republican Army's mailing list?

[ProfessorFarnsworth]

Pakistan might be going bankrupt too:

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3147266/Pakistan-facing-bankruptcy.html

Bear in mind also that if Pakistan goes bankrupt, it will likely destabilize security in the entire region.

Yeah, they might turn into a military dictatorship that's plagued by Muslim extremists, and threaten India with nuclear weapons.

Yes I know, more the same lol; but to be serious, it'd be much worse actually. The bankruptcy of Pakistan will lead to a major civil unrest and the probability of the Taliban seizing control, power and influence of the nation is significantly increased (because unlike ordinary governments or organizations, the Taliban relies mostly on the black market trade to economically power it's resources, so this economic crisis will have a lesser impact on them). If you think the current government is bad, the Taliban would be way worse. Also when I said 'region' I meant the ENTIRE middle east would be affected, not just the whole Pakistan v.s India issue either. I think I failed to state the potential severity of the situation with that post.

[Trigger 11]

If you had purchased $1,000.00 of Delta Air Lines stock one year ago you would have $49.00 left.

With Enron, you would have had $16.50 left of the original $1,000.00.

With WorldCom, you would have had less than $5.00 left.

But, if you had purchased $1,000.00 worth of beer one year ago, drank all of the beer, then turned in the cans for the aluminum recycling REFUND, you would have $214.00 cash.

Based on the above, the best current investment advice is to drink heavily and recycle.

It's called the 401-Keg

A recent study found the average American walks about 900 miles a year.

Another study found Americans drink, on the average, 22 gallons of alcohol a year. That means, on average, Americans get about 41 miles to the gallon.

Makes You Proud To Be An American!

[richard]

every country or emprie that used paper money that isnt backed by anything will ultimatley go bankrupt i think. the only real value money has is that everyone puts there faith in it, the more governemnt prints money the less its worth. its only a matter of time before our country fails

im so happy i dont have kids, im not bringing any humanbeing into this increadibly fucked up world. could you imagine what would happen if money lossed all value? people would be murderd for there shit, people would rape others and loot. im also so happy i am a gun owner, anyone tries to fucking stealing anything from me and i'll put a hole in there chest the size of there sisters worn out pussy

*sighs all dramaically*