Destructive Tipping Point

According to the Dean of Columbia Business school, America is "close to a destructive tipping point."

"America is very close to a destructive tipping point," co-authors Glenn Hubbard and Peter Navarro warn in their new book Seeds of Destruction. "We must change how we conduct our politics and economics...or we will inevitably go the way of all once-great nations and suffer an irreversible decline."

But if Bush was a big spender, President Obama is "taking it to a whole other level," Hubbard says, citing the familiar critiques of ObamaCare and Financial Reform and "excess government spending" in general.

In short, Hubbard believes Obama inherited a mess but has made it worse with nearly every one of his major policy initiatives and general governing philosophy.

"We as a nation cannot resolve what have become deep and systemic structural imbalances in our economy simply by throwing more money and more and more regulations and more and more taxes at the problem," Hubbard and Navarro write.

See it here; http://finance.yahoo.com/tech-ticker/u.s.-economy-%22close-to-a-destructive-tipping-point%22-glenn-hubbard-says-535457.html

My question to these guys is, "What do you mean by destructive tipping point? What do you actually think it will look like to the average guy on the street if America has a destructive tipping point?"

That's the same question I always want to ask of the authors who say that America is close to a systemic collapse. What does that even mean? Is Cub Foods empty? Are they even open? Are people running around trying to change their dollars for Euros? Are the banks closed? Does the National Guard show up to stop the rioting in the major cities? Or do they stay home and try to help their own families through the collapse?

What I do know for sure is that the people living in America today have no idea what life will be like if the U.S. dollar starts to plummet in value....and ends up to not be worth the paper it is printed on.