A debt of 32.5 percent of the GDP is not much, far below the EU average. But the annual growth of the debt rate looks too high, much higher than the growth rate of the GDP
"And the dollar will become almost worthless or perhaps completely worthless."
Leonidas
If it would be an average or small country that could be the case. It would be the classical scenario described by all economic books.
But the USA is a very special case. Its currency is still the world reserve currency by excellence. If something real bad would happen to the dollar the whole world would suffer, Europe in first place. And the funny think what happens when bad news start to come out in the US: the dollar is actually going up, some 5 cents in 3 days. Each time the Europeans go overboard and start to crow about the strenghs of the euro a change in direction occurs. In 2-3 months the euro could go back to the 1.20 dollar level again.
Yes, the outlook is pretty bad, I am fully aware of it. For a while now I am contemplating a condo purchase in Florida but I am waiting because the prices will be even lower in the future. I would like to have it on the seeside, where the prices are still too high. Far from the ocean you can get it very cheap.
(Joe, 14 August 2010 15:29
Iam glad that for once you agree with me the US economy is not just bad-bad is understatement-but is in terminal decline.
There are no win-win solutions. "Recovery"..."stimulus"..."grow your way out"...and all the other painless remedies are just claptrap. Nor is the US government going to double all taxes. Congress doesn't have the stomach for it. The economy would collapse even further - leaving possibly less revenue for the US goverment.
Now don't hold your breath waiting for politicians of any persuation to be straight with the voters.
On the contrary they will use the only tools they have,they will call upon the Federal reserve and the Treasury to bail them out. How? By using quantitative easing - money printing, in other words.This is what they've been doing the last couple of years. The Treasury will borrow the money from the Federal reserve. The bills will be paid. And the dollar will become almost worthless or perhaps completely worthless.
Yes, the outlook is pretty bad, I am fully aware of it. For a while now I am contemplating a condo purchase in Florida but I am waiting because the prices will be even lower in the future. I would like to have it on the seeside, where the prices are still too high. Far from the ocean you can get it very cheap.
Serbia, I'm one of your well wishers. Your debt is now a third of your GDP. Please get a hold of yourself and
for goodness sakes don't ape
your mortal enemies those Yankees --theirs is more than 90% of GDP - and will get worse of course. [link]
[link]/
(lowe, 14 August 2010, 12:11
I tottaly agreewith your comment.Serbia has to get grip of its debt now because its too late.
Regarding the US debt here is a link from Joe's favourite news channel.
Serbia, I'm one of your well wishers. Your debt is now a third of your GDP. Please get a hold of yourself and
for goodness sakes don't ape
your mortal enemies those Yankees --theirs is more than 90% of GDP - and will get worse of course. http://www.americanthinker.com/2010/06/americas_predicament.html
http://www.federalbudget.com/
Serbia, I'm one of your well wishers. Your debt is now a third of your GDP. Please get a hold of yourself and
for goodness sakes don't ape
your mortal enemies those Yankees --theirs is more than 90% of GDP - and will get worse of course. [link]
[link]/
(lowe, 14 August 2010, 12:11
I tottaly agreewith your comment.Serbia has to get grip of its debt now because its too late.
Regarding the US debt here is a link from Joe's favourite news channel.
Yes, the outlook is pretty bad, I am fully aware of it. For a while now I am contemplating a condo purchase in Florida but I am waiting because the prices will be even lower in the future. I would like to have it on the seeside, where the prices are still too high. Far from the ocean you can get it very cheap.
Yes, the outlook is pretty bad, I am fully aware of it. For a while now I am contemplating a condo purchase in Florida but I am waiting because the prices will be even lower in the future. I would like to have it on the seeside, where the prices are still too high. Far from the ocean you can get it very cheap.
(Joe, 14 August 2010 15:29
Iam glad that for once you agree with me the US economy is not just bad-bad is understatement-but is in terminal decline.
There are no win-win solutions. "Recovery"..."stimulus"..."grow your way out"...and all the other painless remedies are just claptrap. Nor is the US government going to double all taxes. Congress doesn't have the stomach for it. The economy would collapse even further - leaving possibly less revenue for the US goverment.
Now don't hold your breath waiting for politicians of any persuation to be straight with the voters.
On the contrary they will use the only tools they have,they will call upon the Federal reserve and the Treasury to bail them out. How? By using quantitative easing - money printing, in other words.This is what they've been doing the last couple of years. The Treasury will borrow the money from the Federal reserve. The bills will be paid. And the dollar will become almost worthless or perhaps completely worthless.
Serbia, I'm one of your well wishers. Your debt is now a third of your GDP. Please get a hold of yourself and
for goodness sakes don't ape
your mortal enemies those Yankees --theirs is more than 90% of GDP - and will get worse of course. http://www.americanthinker.com/2010/06/americas_predicament.html
http://www.federalbudget.com/
A debt of 32.5 percent of the GDP is not much, far below the EU average. But the annual growth of the debt rate looks too high, much higher than the growth rate of the GDP
"And the dollar will become almost worthless or perhaps completely worthless."
Leonidas
If it would be an average or small country that could be the case. It would be the classical scenario described by all economic books.
But the USA is a very special case. Its currency is still the world reserve currency by excellence. If something real bad would happen to the dollar the whole world would suffer, Europe in first place. And the funny think what happens when bad news start to come out in the US: the dollar is actually going up, some 5 cents in 3 days. Each time the Europeans go overboard and start to crow about the strenghs of the euro a change in direction occurs. In 2-3 months the euro could go back to the 1.20 dollar level again.
Serbia, I'm one of your well wishers. Your debt is now a third of your GDP. Please get a hold of yourself and
for goodness sakes don't ape
your mortal enemies those Yankees --theirs is more than 90% of GDP - and will get worse of course. http://www.americanthinker.com/2010/06/americas_predicament.html
http://www.federalbudget.com/
Yes, the outlook is pretty bad, I am fully aware of it. For a while now I am contemplating a condo purchase in Florida but I am waiting because the prices will be even lower in the future. I would like to have it on the seeside, where the prices are still too high. Far from the ocean you can get it very cheap.
Serbia, I'm one of your well wishers. Your debt is now a third of your GDP. Please get a hold of yourself and
for goodness sakes don't ape
your mortal enemies those Yankees --theirs is more than 90% of GDP - and will get worse of course. [link]
[link]/
(lowe, 14 August 2010, 12:11
I tottaly agreewith your comment.Serbia has to get grip of its debt now because its too late.
Regarding the US debt here is a link from Joe's favourite news channel.
Yes, the outlook is pretty bad, I am fully aware of it. For a while now I am contemplating a condo purchase in Florida but I am waiting because the prices will be even lower in the future. I would like to have it on the seeside, where the prices are still too high. Far from the ocean you can get it very cheap.
(Joe, 14 August 2010 15:29
Iam glad that for once you agree with me the US economy is not just bad-bad is understatement-but is in terminal decline.
There are no win-win solutions. "Recovery"..."stimulus"..."grow your way out"...and all the other painless remedies are just claptrap. Nor is the US government going to double all taxes. Congress doesn't have the stomach for it. The economy would collapse even further - leaving possibly less revenue for the US goverment.
Now don't hold your breath waiting for politicians of any persuation to be straight with the voters.
On the contrary they will use the only tools they have,they will call upon the Federal reserve and the Treasury to bail them out. How? By using quantitative easing - money printing, in other words.This is what they've been doing the last couple of years. The Treasury will borrow the money from the Federal reserve. The bills will be paid. And the dollar will become almost worthless or perhaps completely worthless.
"And the dollar will become almost worthless or perhaps completely worthless."
Leonidas
If it would be an average or small country that could be the case. It would be the classical scenario described by all economic books.
But the USA is a very special case. Its currency is still the world reserve currency by excellence. If something real bad would happen to the dollar the whole world would suffer, Europe in first place. And the funny think what happens when bad news start to come out in the US: the dollar is actually going up, some 5 cents in 3 days. Each time the Europeans go overboard and start to crow about the strenghs of the euro a change in direction occurs. In 2-3 months the euro could go back to the 1.20 dollar level again.
A debt of 32.5 percent of the GDP is not much, far below the EU average. But the annual growth of the debt rate looks too high, much higher than the growth rate of the GDP
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