UtopianRanger
Posts: 3251
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quote:
Technically the US isn't bankrupt. The national debt is high, but not in comparison to GDP. Americans are also by far the richest population in the world with a combined personal net worth of $55.5 trillion dollars. The US economy is also growing by about 3-4% every year. Compared to Europe where it is barely growing at all. The GDP growth is an illusion because it's been precipitated by consumer spending brought on by artificial equity inflation created by a lending bubble. Over the past sixty months {Per the Economist} consumer spending and residential construction have accounted for ninety percent of the GDP growth{that's downright frightening for anyone capable of reading between the lines} Furthermore.....since 2001, more than forty percent of private sector jobs created, have been-in areas related to real-estate and new construction. Couple that with fact that since Bush has been in office, we've seen ten trillion dollars worth of artificial equity created under false pretenses. As that equity begins to deflate and real estate activity begins to diminish, I would like you to point out where you see, and in what areas any consistent GDP growth can be maintained? I'd like to add.... that if banded together, the five largest, most efficient economies in the world couldn’t sustain ten trillion dollars in losses. Besides, non-repayable debt and bankruptcy are inherent deficiencies contained within a monetary system whose nucleus is interest-laden money creation. quote:
Trade and budget deficits are obviously a problem, but investors and corporations are contributing that to the policies of the Bush administration and not exactly the result of weaknesses in the US economy. They are expecting the next president to be more fiscally responsible. Are you kidding me....over the last three administrations {Democrat and fake Republican} we've seen a slow progression towards a ''globalistic state'' and continued /growing trade imbalance. The Democrats have already said they want increase spending as a whole by five percent. By all means, please point out among the shills currently seeking the presidency in 2008 which one will reduce spending and put America back to work producing *real*, tangible goods. quote:
If China and Japan recall the debt, then there would be some trouble but that will never happen because they would be killing their own economies in the process. Both of them are slowly divesting themselves out of the dollar right now. China is buying gold, Euro and the Yen, while Japan, who was lending us money at zero interest, just tacked on half a percentage point { In late June} which was instrumental in weakening the dollar. The only things holding the dollar together is our extensive military outlay{which will hopefully collapse from within} and the gullibility of the rest of the world. - R
< Message edited by UtopianRanger -- 4/11/2007 12:27:23 AM >
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"If you are going to win any battle, you have to do one thing. You have to make the mind run the body. Never let the body tell the mind what to do... the body is never tired if the mind is not tired." -General George S. Patton
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