Sorry, you're leaping to wildly erroneous conclusions regarding the amount and function of debt. First, the model used for the $53 trillion figure assumes a negative-constant GDP (fixed, stagnant, or contracting), lower dollar value, ever increasing debt/interest - extrapolated over the term of a lifetime. We could just as easily pull $153 trillion out of the air.
Thus, you have concluded an inability of government and consumers to pay off the their debts. In other words, we're individually and collectively bankrupt. But in order for this to be true, virtually all economic activity would have already ground to a halt. After all, what would be the point, the dollar would be worthless. More, world economies certainly wouldn't be fleeing to the dollar, but that's exactly what they're doing. It is true that the US economy has been rocked by bad debt in the housing sector, not because of "capitalism," but as a direct result of Socialist, spread-the-wealth schemes. Worse, the government has reacted with even more socialist schemes, such as nationalizing essentially healthy financial institutions in order to spread bad debt "evenly." And if this Marxist march into the capitalist market continues, the US will collapse just like all other Marxist Utopias. Still, I seriously doubt this will happen, at least over the long run. We'll have to wait and see. RE: “Measure of America” report documents social decay of the United States US ranks 42nd in life expectancy (life expectancy, not standard of living, my mistake)": Pure nonsense. The glass in not half empty. While it's true we rank roughly 42nd in life expectancy, Americans are living longer than ever before, now 10+ years longer than the world average. And if we were truly as racist as Barack and Michelle Obama claim, we could rank #1 by simply locking up every African American male under the age of 35, and deporting every illegal alien. But even with these obvious drags on our overall life expectancy, the #1 country is outliving us by about 6 years, while the bottom number, Swaziland, is out-dying us by 36 years. Regarding "social decay," it's strictly a matter of perception. I will say, however, that where we find "affordable housing" in the US, we do find obvious social decay. But keep in mind that affordable housing is a socialist program, which brings us right back to our ailing economy. So, if you want to celebrate something, celebrate yet another in the long, unbroken line of Socialist failures. And tell the rest of the world to quit hoarding dollars. On Oct 18, 12:32 am, "\"Lone Wolf\"" <[EMAIL PROTECTED]> wrote: > Sorry $53 trillion are the figures supplied by the Fed Bureau of > Statisics, as is the debt ratios of 1929 and 2008. Ask Professor > Nouriel Rubini and George Soros, they have both substantiated these > figures. Go to this website and have a good cry because the US is > finished. http://mwhodges.home.att.net/nat-debt/debt-nat.htm. And the > $4 billion is 100% correct, mainly in the form of treasury bonds of > which China has over one trillion dollars worth. > > I don't make up figures, I use the ones your government supplies that > you arent even aware of, because you waste your time on inane threads > about Joe the Plumber > > I don't know what you are talking about Gaar, you have already > conceded these figures are correct. > > “Measure of America” report documents social decay of the United > States > US ranks 42nd in life expectancy (life expectancy, not standard of > living, my mistake) > > "In terms of the human development index, the United States has fallen > from second place in 1990 (behind Canada) to 12th place. This decline > continued through both the Clinton and Bush administrations, with the > US falling to sixth in 1995, ninth in 2000, and 12th in 2005. > > In certain respects, the decline is even worse. The US is 34th in > infant mortality—with a level comparable to Croatia, Estonia, Poland > and Cuba. US school children perform significantly below their > counterparts in countries like Canada, France, Germany and Japan, and > 14 percent of the population, some 40 million people, lack basic > literacy and number skills. > > Of the world’s 30 richest nations, which comprise the Organization for > Economic Cooperation and Development (OECD), the United States has the > highest proportion of children living in poverty, 15 percent, and the > most people in prison, both in absolute numbers and as a percentage of > the whole population. With five percent of the world’s population, the > US has 24 percent of the world’s prisoners." > > http://www.wsws.org/articles/2008/jul2008/usde-j19.shtml > > When you have finished there you can learn some more about the country > you live in > > 16 October 2008 > "Working Poor" report: Nearly 30 percent of US families subsist on > poverty wages > 27 September 2008 > California: foreclosures and homeless on the rise > 24 September 2008 > As economic crisis deepens, rich get richer > Forbes publishes list of 400 wealthiest Americans > 18 September 2008 > US: Unemployment and poverty grip New York State > 30 August 2008 > Three years since Hurricane Katrina > 27 August 2008 > Census report shows rising poverty in US > 4 August 2008 > The politics of community service in the US > 28 July 2008 > Bush administration seeking to block regulation of workplace toxins > 23 July 2008 > Bush: 'Human life is precious'--EPA: 'Less than you might think' > 21 July 2008 > Four workers dead in Texas crane disaster > 19 July 2008 > “Measure of America” report documents social decay of the United > States > US ranks 42nd in life expectancy > 18 July 2008 > "Equality is not good" > Barney Frank and the putrefaction of American liberalism > 9 July 2008 > Chicago families face mounting economic hardship > 25 June 2008 > US housing figures and other data: A picture of rapidly growing social > misery > 23 June 2008 > Flooding in US Midwest: A disaster created by capitalism > 19 June 2008 > New York City spends $2 billion on stadiums while slashing public > funds > 18 June 2008 > US: Officials warn of more levee breaks as Midwest flooding spreads > 17 June 2008 > US: CEO pay sets new record as economy tanks > 16 June 2008 > Kids Count report > Living conditions worsen for US children > 14 June 2008 > Six workers killed in construction of Las Vegas "CityCemetery" > 9 June 2008 > US: FEMA trailers caused at least 17,000 illnesses among Katrina > survivors > 6 June 2008 > Record numbers using food stamps in Ohio, Michigan > 29 May 2008 > Sharp increase in mental illness among US troops during 2007 > 17 April 2008 > In midst of recession, multi-billion-dollar paydays for US hedge fund > managers > 10 April 2008 > Despite spreading recession, US CEOs rake in huge pay raises > 7 April 2008 > Ten die in western Pennsylvania house fire Gas had been cut off since > May 2005 > Hundreds of homeless forcibly evicted from Southern California refuge > 2 April 2008 > US food stamp use projected to swell to record levels > 27 March 2008 > Washington again forecasts ruin for Medicare and Social Security > 26 March 2008 > Social inequality leads to gap in US life expectancy > > http://www.wsws.org/sections/category/news/ineq-us.shtml > > On Oct 18, 2:24 pm, "d.b.baker" <[EMAIL PROTECTED]> wrote: > > > And you call this "debate"? It's pure propaganda:"53 trillion, 4 > > billion, Cuba, 1929"? > > > At least wait until we reach 25% unemployment (1929) before you hit > > the happy button. > > > Meanwhile, you're spitting in the Marxist wind. > > > On Oct 17, 10:38 pm, "\"Lone Wolf\"" <[EMAIL PROTECTED]> wrote: > > > > Internationall money flows into America to keep it from collapsing. > > > The US requires $4 billion a day in direct capital injection into its > > > economy or it will tank. America's total debt is 53 trillion dollars, > > > that is business, government and private combined. Last year US total > > > debt increased by 5.5 GDP. > > > > In 1929 US trade deficit was 150% of GDP, now it is 300% of GDP. US > > > debt is greater than the rest of the world's combined. > > > > The US is bleeding to death > > > > The industrial might the US was built upon, especially the steel and > > > car industry are vitually non existant, while the US is now the > > > polarizared nation on earth. > > > > The success story of capitalism, no industry, no decent jobs, record > > > wealth polarization and the world's richest nation as number 42 in > > > living standards behind Cuba (that is not socialist by any means). If > > > you call that a success I would hate to think what you consider a > > > failure. > > > > The US is finished as a world power. > > > > On Oct 18, 9:41 am, Kamakazee <[EMAIL PROTECTED]> wrote: > > > > > Economic reality? Not quite, look globally. Most economies, > > > > particuarly those in Europe (and even Asia), are tanking. Now look at > > > > where the international money (i.e., the strength of currency) is > > > > flowing, into the US. The dollar is hitting recent highs. > > > > > Sure, things are bad, but comparatively, the international money is > > > > that the US economy will do better than the rest. > > > > > Socialism? Not even close, if anything we'll prove capitalism > > > > triumphs (again) > > > > > On Oct 17, 5:30 pm, "\"Lone Wolf\"" <[EMAIL PROTECTED]> wrote: > > > > > > Here is something to get your teeth into, you know, economic reality, > > > > > that's more important than anything else. > > > > > > Go to Bllomberg and learn something. Oh that's right, Joe the plumber > > > > > is the new financial adviser for the US. Well he can hardly do worse > > > > > can he? > > > > > > •U.S. Stocks Drop as Housing, Confidence Data Offset Buffett Advice to > > > > > Buy > > > > > > •Consumer Confidence in U.S. Falls Most on Record; Housing Starts > > > > > Decline > > > > > > •Lehman Is Subject of Three Grand Jury Probes After Largest-Ever > > > > > Bankruptcy > > > > > > •AIG Told to Hand Over Cassano Pay Data, Documents to Congressional > > > > > Panel > > > > > > The US corporate crooks and the administration are so screwed, they > > > > > are all going to jail, the real American people have had it up to the > > > > > eyeballs with these reprobates. > > > > > > Socialist America--just around the corner.- Hide quoted text - > > > > > - Show quoted text -- Hide quoted text - > > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
