--- In FairfieldLife@yahoogroups.com, "sparaig" <[EMAIL PROTECTED]> wrote: > --- In FairfieldLife@yahoogroups.com, TurquoiseB <[EMAIL PROTECTED]> > wrote: > > Wake up. The United States of America has to borrow > > two billion dollars a day to stay afloat. I'd say > > that the world was supporting them. > > Its interdependent, but American foreign policy sends aid of all > kinds (not just military) to other parts of the world. The New > Orleans disaster will be felt in many ways in the USA and around the > world for many years, possibly for the next century.
Ah, interdependent. So the US sends a tiny bit of the money it borrows from China, Saudi Arabia, and the Netherlands to other parts of the world in the form of aid. Wouldn't it be more accurate then to say that it's the Chinese, the Saudi Arabians and the Dutch who are supplying thr aid to these poor countries? :-) More seriously, there is a possibility that this whole Katrina natural disaster might precipitate the collapse of the American insurance industry. It's an open secret within the industry that pretty much every insurance company in America, taking advantage of asset reporting loopholes available to them that are not available to banks, are severely underfunded. It's been estimated (again, within the industry) that most insurance com- panies have issued polices for 4X to 10X their assets. That means they can't pay off if a lot of those policies come due at once. If a few major companies fail, insiders suspect that they'll all fail, as a result of the "domino effect" caused by reinsurance, and spreading the debt around. It's not as if these companies don't deserve to fail (you can tell I spent far too much time working as a consultant in that industry to feel their pain), but if it happens it will horribly escalate the impact of this hurricane. ------------------------ Yahoo! Groups Sponsor --------------------~--> Get fast access to your favorite Yahoo! Groups. Make Yahoo! your home page http://us.click.yahoo.com/dpRU5A/wUILAA/yQLSAA/JjtolB/TM --------------------------------------------------------------------~-> To subscribe, send a message to: [EMAIL PROTECTED] Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!' Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
