>Very well could be, borrowed money, borrowed time
>
>But likely to take a few years until the stuff really hits the fan, and since most of us are getting up there in age, most likely will be the problem of the next generation. In the short run, we will enter recession, let the dollar slide even more, and continue to transfer our wealth to those that want to take us down. At some point, they will stop buying our bonds (loaning us money) and the house of cards will collapse.
>
>Just this last hiccup in subprime could have collapsed the economic system if it were not for the fed and other central governments pumping in hundreds of billions in liquidity (printing money) which will only work in the short run.

Exactly. The ability to print more dollars is endless, but the effectiveness of that strategy will last only as long as inflation can be exported, which is possible only as long as the dollar is the world's reserve currency, which will last only as long as the world accepts it as such. Should I toss a few more "as long as"es?

America enjoys this special position because it's the world's largest economic partner. You know, from the old adage - "if you owe me a bit, you're in debt; if you owe a lot, you're my business partner".

Interesting times may be coming. Some of the cards in the bottom row look a little shaky.