Thursday, 28.07.2011.
11:31
The White House has said it is working on an unspecified Plan B with members of Congress to avoid the risk of the U.S. defaulting on its debts, euronews said.
Izvor: EuroNews
IMAGE SOURCE
pre 12 godina
(sj, 30 July 2011 03:03)
World Bank has had a US president since its inception, it is the IMF that has had a European Director. The current World Bank president is still from the US. Maybe you should do a little research between your highly confidential meetings. As far as going to an Albanian site, I think I will stay and help dispel some of the dribble you try to convince your fellow "ultranationalists" is truth.
pre 12 godina
(sj, 30 July 2011 03:03)
# Comment link
You are so full of bs it is amazing. You have no concept of what student loans in the US are. Even if you were right about "foreign banks" purchasing the govt guarantees, they would still have to follow US law in collecting debt, and the law is very specific in what can and cannot be done.
The govt only owns loans that have already gone into default.
My advice go to a different subject it is totally apparent you have not a clue on this subject.
pre 12 godina
"As far as the US becoming a minor power, note that the US was still able to block Russia from parading Serbia before the Security council!
(pss, 29 July 2011 14:55)"
Big deal! The Russians are able to block "Kosova" from UN membership altogether! You Yankees ain't the only ones with the veto in case you forgot.
pre 12 godina
(pss, 29 July 2011 14:55)
Any who tells you that they can accurately predict the exact time (something like 6pm on 10 June 2014) when the US will falter is lying. You only have to look at their assets and liabilities which gives you a good indication of how well a nation is going. I have a lot of respect for the likes of Warren Buffet and his talent, but even he will tell you something along the same lines. No one can predict when stocks will reach their peak in a boom and the same logic applies here.
“Student loans are liabilities for the US govt only,the govt does not own student loans only the guarantees, anyone purchasing those guarantees would only hurt themselves while boosting the US”.
Correct, but you see the US Government has sold those guarantees to foreign banks and these banks will now treat student debts as any normal debt and will pursue them unlike say the government which tends to write a certain % off.. That is what has been done. The world has changed since 1990s. Who would have even dreamt that the US would be in such a predicament after the fall of the Soviet – debt to the ceiling and losing 3 wars it started with a DEPRESSION at home . YES it’s a DEPRESSION not a GREAT RECESSION.
If you do not understand what is going on in your country I’m truly sorry for you but the US as at today has 14.555 Trillion in debt and an unfunded liability of 115 trillion. The fact that the 14.555 trillion does not take into account the debt owed by the states is never discussed. Your actual debt is closer to 22 trillion as at today.
I would not lose too much sleep over the UNSC as it requires only 3 to veto Serbia being paraded. As the US can still muster UK and French votes then it’s no surprise.
The more important issue is the World Bank – since 1947 the World Bank has had a president from Europe and the vice president was from the US. Just recently this has changed where you have a European as president but it’s a Chinese banker who is vice president and the entire IMF is being reorganized to accommodate, get this, Brazil, India and Russia and it is expected to be finalized late this year or very early next year. So now you have the US, at best, one of the board members.
Ask you secretary of treasury why he has not told its citizens about his fact. I can’t post confidential work documents to satisfy you. If you find my posting as nonsense please more over to one of your Albanian media sites.
pre 12 godina
PSS doesn't know where money come from or how many zeroes are required to reach the trillion level. Albanian economics 101.
pre 12 godina
http://thenewamerican.com/economy/commentary-mainmenu-43/8353-forbes-us-default-a-given
pre 12 godina
I can’t force your secretary of Treasury to tell your people that it has sold assets but it has and you will read about it down the track. It was reported several weeks ago that this was an option if an agreement was not reached to give the President some breathing space.
No one can predict the exact time and moment of a financial boom or bust, but reading the signs can tell you that one or the other is on the way and the US is on the way down big time. I can’t help you if your own people want to bury their heads in the sand.
Even if the US started an austerity program today to balance the budget and repay the debt it would reduce it to a minor power in the world and it would take 3 to four generations to bring that debt under control. It’s not 14 trillion but a lot more as every state in the US is bankrupt.
(sj, 29 July 2011 11:21)
As I predicted you have no proof, none, nada, zip, zing to support your claims.
You apparently have no clue how the student loan system works. Having had one when I went to college and now my son has one, I think I understand better than a coffee shop waiter listening in on conversations trying to impress the Serbian world.
Student loans are liabilities for the US govt only,the govt does not own student loans only the guarantees, anyone purchasing those guarantees would only hurt themselves while boosting the US.
The loans are owned by private banks. The US govt inorder to get the banks to loan the money guarantees the payment in the event of a default by the recipient. There are no actual collateral to secure the loan as in home loans, car loans etc. Should an individual default on a student loan the government will pay the balance or negotiated balance to the bank and attempt to collect from the individual. But it is limited in actions that can take place, they cannot confiscate a primary residence(defaulters rarely have secondary housing), they cannot confiscate a primary vehicle as that would place an economic burden on the family. It can and does seize tax refunds however, not everyone gets a tax refund and anyone with brains would make sure not to pay a tax surplus and generate a tax refund that could be taken.
While I will agree that the US will see harder times than in the last recession, they will not reach the apocalypse you predict. However, in unstable economies such as Serbia it will be devastating, my only regret in such a situation is I cannot see the look on your face as you raise your hands and say "it wasn't suppose to happen to me"
In 25 years the face of the world may be different but today there is not an economy on the planet that would not suffer from a US collapse and to deny that does not give you much credit.
As far as the US becoming a minor power, note that the US was still able to block Russia from parading Serbia before the Security council!
pre 12 godina
Give one credible source for your information. A link to any website that supports your claims. I know the response it is confidential information you have obtained from your sources that you cannot divulge.
Or your other usual claim wait until .... and you will see.
(pss, 28 July 2011 14:38)
What source are you talking about? The US rating agencies all give the US AAA+ and sing happy songs of wealth will return to the US.
It’s the people with money i.e. the Asians that say the US is at best BBB-. I cant force western media to publish this fact. Can you imagine what would happen if they turned around and said the US is only a BBB-; the stock market would go down faster than rock out of a plane.
I can’t force your secretary of Treasury to tell your people that it has sold assets but it has and you will read about it down the track. It was reported several weeks ago that this was an option if an agreement was not reached to give the President some breathing space.
No one can predict the exact time and moment of a financial boom or bust, but reading the signs can tell you that one or the other is on the way and the US is on the way down big time. I can’t help you if your own people want to bury their heads in the sand.
Even if the US started an austerity program today to balance the budget and repay the debt it would reduce it to a minor power in the world and it would take 3 to four generations to bring that debt under control. It’s not 14 trillion but a lot more as every state in the US is bankrupt.
(sj, 29 July 2011 11:21)
It's well known the US has lost its AAA status years ago.But the official rating agencies-the same ones that gave Lehman Brothers AAA just before its collapse-won't be allowed to downgrade the US sovereign debt for obvious reasons.I think the BBB-is a bit generous and the link below shows the true rating of the US.
http://jhaines6.wordpress.com/2011/07/15/weiss-ratings-has-just-just-downgraded-u-s-debt-to-c-minu
I also agree with you the official debt is a lot higher because it doesn't include state and municipal debts.
pre 12 godina
Give one credible source for your information. A link to any website that supports your claims. I know the response it is confidential information you have obtained from your sources that you cannot divulge.
Or your other usual claim wait until .... and you will see.
(pss, 28 July 2011 14:38)
What source are you talking about? The US rating agencies all give the US AAA+ and sing happy songs of wealth will return to the US.
It’s the people with money i.e. the Asians that say the US is at best BBB-. I cant force western media to publish this fact. Can you imagine what would happen if they turned around and said the US is only a BBB-; the stock market would go down faster than rock out of a plane.
I can’t force your secretary of Treasury to tell your people that it has sold assets but it has and you will read about it down the track. It was reported several weeks ago that this was an option if an agreement was not reached to give the President some breathing space.
No one can predict the exact time and moment of a financial boom or bust, but reading the signs can tell you that one or the other is on the way and the US is on the way down big time. I can’t help you if your own people want to bury their heads in the sand.
Even if the US started an austerity program today to balance the budget and repay the debt it would reduce it to a minor power in the world and it would take 3 to four generations to bring that debt under control. It’s not 14 trillion but a lot more as every state in the US is bankrupt.
pre 12 godina
It’s worth remembering that since the 1970s the ceiling has been raised more than 70 times and 10 times since 2000.
If the ceiling is raised, the problem is just kicked down the road a few years, gathering even more problems along the way.
On the other hand if the US really does default (and I don't think they will) it will make the thirties look like a tea party. I can't see how anyone could wish for that. A collapse will probably lead to fascism in the US and more wars around the globe.What the US needs is direct democracy by the people for the people.
pre 12 godina
This situation will be resolved but the US will never be the same. It is dying on its feet and the whole world is watching. Recently the US sold both its student loans and gold reserves (one thing that the secretary of Treasury said would never be done) to give Obama some breathing room to negotiate the debt ceiling.
This was the last of the gold reserves worth about 400 billion. There is nothing left to sell!!!…!!
When you desperately rely on borrowings to send out civilian and military pensions you are in very deep doo doo.
(sj, 28 July 2011 13:51)
Give one credible source for your information. A link to any website that supports your claims. I know the response it is confidential information you have obtained from your sources that you cannot divulge.
Or your other usual claim wait until .... and you will see.
pre 12 godina
The only way to get the budget under control is to increase taxes and put further limits on spending. The Republicans, under George W(anker) Bush, made a complete mess of the economy for which all Americans will have to be paying for a very long time to come.
The Democrats have the right approach. Increase taxes on the rich, which is anyone with half a million or more. The republicans seem to be serving only the interests of a few including the Bush family who incidentally should all be tried for treason.
pre 12 godina
This situation will be resolved but the US will never be the same. It is dying on its feet and the whole world is watching. Recently the US sold both its student loans and gold reserves (one thing that the secretary of Treasury said would never be done) to give Obama some breathing room to negotiate the debt ceiling.
This was the last of the gold reserves worth about 400 billion. There is nothing left to sell!!!!!!!!!!!!!!!!!!
When you desperately rely on borrowings to send out civilian and military pensions you are in very deep doo doo.
pre 12 godina
This situation will be resolved but the US will never be the same. It is dying on its feet and the whole world is watching. Recently the US sold both its student loans and gold reserves (one thing that the secretary of Treasury said would never be done) to give Obama some breathing room to negotiate the debt ceiling.
This was the last of the gold reserves worth about 400 billion. There is nothing left to sell!!!!!!!!!!!!!!!!!!
When you desperately rely on borrowings to send out civilian and military pensions you are in very deep doo doo.
pre 12 godina
The only way to get the budget under control is to increase taxes and put further limits on spending. The Republicans, under George W(anker) Bush, made a complete mess of the economy for which all Americans will have to be paying for a very long time to come.
The Democrats have the right approach. Increase taxes on the rich, which is anyone with half a million or more. The republicans seem to be serving only the interests of a few including the Bush family who incidentally should all be tried for treason.
pre 12 godina
It’s worth remembering that since the 1970s the ceiling has been raised more than 70 times and 10 times since 2000.
If the ceiling is raised, the problem is just kicked down the road a few years, gathering even more problems along the way.
On the other hand if the US really does default (and I don't think they will) it will make the thirties look like a tea party. I can't see how anyone could wish for that. A collapse will probably lead to fascism in the US and more wars around the globe.What the US needs is direct democracy by the people for the people.
pre 12 godina
Give one credible source for your information. A link to any website that supports your claims. I know the response it is confidential information you have obtained from your sources that you cannot divulge.
Or your other usual claim wait until .... and you will see.
(pss, 28 July 2011 14:38)
What source are you talking about? The US rating agencies all give the US AAA+ and sing happy songs of wealth will return to the US.
It’s the people with money i.e. the Asians that say the US is at best BBB-. I cant force western media to publish this fact. Can you imagine what would happen if they turned around and said the US is only a BBB-; the stock market would go down faster than rock out of a plane.
I can’t force your secretary of Treasury to tell your people that it has sold assets but it has and you will read about it down the track. It was reported several weeks ago that this was an option if an agreement was not reached to give the President some breathing space.
No one can predict the exact time and moment of a financial boom or bust, but reading the signs can tell you that one or the other is on the way and the US is on the way down big time. I can’t help you if your own people want to bury their heads in the sand.
Even if the US started an austerity program today to balance the budget and repay the debt it would reduce it to a minor power in the world and it would take 3 to four generations to bring that debt under control. It’s not 14 trillion but a lot more as every state in the US is bankrupt.
pre 12 godina
This situation will be resolved but the US will never be the same. It is dying on its feet and the whole world is watching. Recently the US sold both its student loans and gold reserves (one thing that the secretary of Treasury said would never be done) to give Obama some breathing room to negotiate the debt ceiling.
This was the last of the gold reserves worth about 400 billion. There is nothing left to sell!!!…!!
When you desperately rely on borrowings to send out civilian and military pensions you are in very deep doo doo.
(sj, 28 July 2011 13:51)
Give one credible source for your information. A link to any website that supports your claims. I know the response it is confidential information you have obtained from your sources that you cannot divulge.
Or your other usual claim wait until .... and you will see.
pre 12 godina
Give one credible source for your information. A link to any website that supports your claims. I know the response it is confidential information you have obtained from your sources that you cannot divulge.
Or your other usual claim wait until .... and you will see.
(pss, 28 July 2011 14:38)
What source are you talking about? The US rating agencies all give the US AAA+ and sing happy songs of wealth will return to the US.
It’s the people with money i.e. the Asians that say the US is at best BBB-. I cant force western media to publish this fact. Can you imagine what would happen if they turned around and said the US is only a BBB-; the stock market would go down faster than rock out of a plane.
I can’t force your secretary of Treasury to tell your people that it has sold assets but it has and you will read about it down the track. It was reported several weeks ago that this was an option if an agreement was not reached to give the President some breathing space.
No one can predict the exact time and moment of a financial boom or bust, but reading the signs can tell you that one or the other is on the way and the US is on the way down big time. I can’t help you if your own people want to bury their heads in the sand.
Even if the US started an austerity program today to balance the budget and repay the debt it would reduce it to a minor power in the world and it would take 3 to four generations to bring that debt under control. It’s not 14 trillion but a lot more as every state in the US is bankrupt.
(sj, 29 July 2011 11:21)
It's well known the US has lost its AAA status years ago.But the official rating agencies-the same ones that gave Lehman Brothers AAA just before its collapse-won't be allowed to downgrade the US sovereign debt for obvious reasons.I think the BBB-is a bit generous and the link below shows the true rating of the US.
http://jhaines6.wordpress.com/2011/07/15/weiss-ratings-has-just-just-downgraded-u-s-debt-to-c-minu
I also agree with you the official debt is a lot higher because it doesn't include state and municipal debts.
pre 12 godina
http://thenewamerican.com/economy/commentary-mainmenu-43/8353-forbes-us-default-a-given
pre 12 godina
I can’t force your secretary of Treasury to tell your people that it has sold assets but it has and you will read about it down the track. It was reported several weeks ago that this was an option if an agreement was not reached to give the President some breathing space.
No one can predict the exact time and moment of a financial boom or bust, but reading the signs can tell you that one or the other is on the way and the US is on the way down big time. I can’t help you if your own people want to bury their heads in the sand.
Even if the US started an austerity program today to balance the budget and repay the debt it would reduce it to a minor power in the world and it would take 3 to four generations to bring that debt under control. It’s not 14 trillion but a lot more as every state in the US is bankrupt.
(sj, 29 July 2011 11:21)
As I predicted you have no proof, none, nada, zip, zing to support your claims.
You apparently have no clue how the student loan system works. Having had one when I went to college and now my son has one, I think I understand better than a coffee shop waiter listening in on conversations trying to impress the Serbian world.
Student loans are liabilities for the US govt only,the govt does not own student loans only the guarantees, anyone purchasing those guarantees would only hurt themselves while boosting the US.
The loans are owned by private banks. The US govt inorder to get the banks to loan the money guarantees the payment in the event of a default by the recipient. There are no actual collateral to secure the loan as in home loans, car loans etc. Should an individual default on a student loan the government will pay the balance or negotiated balance to the bank and attempt to collect from the individual. But it is limited in actions that can take place, they cannot confiscate a primary residence(defaulters rarely have secondary housing), they cannot confiscate a primary vehicle as that would place an economic burden on the family. It can and does seize tax refunds however, not everyone gets a tax refund and anyone with brains would make sure not to pay a tax surplus and generate a tax refund that could be taken.
While I will agree that the US will see harder times than in the last recession, they will not reach the apocalypse you predict. However, in unstable economies such as Serbia it will be devastating, my only regret in such a situation is I cannot see the look on your face as you raise your hands and say "it wasn't suppose to happen to me"
In 25 years the face of the world may be different but today there is not an economy on the planet that would not suffer from a US collapse and to deny that does not give you much credit.
As far as the US becoming a minor power, note that the US was still able to block Russia from parading Serbia before the Security council!
pre 12 godina
PSS doesn't know where money come from or how many zeroes are required to reach the trillion level. Albanian economics 101.
pre 12 godina
(pss, 29 July 2011 14:55)
Any who tells you that they can accurately predict the exact time (something like 6pm on 10 June 2014) when the US will falter is lying. You only have to look at their assets and liabilities which gives you a good indication of how well a nation is going. I have a lot of respect for the likes of Warren Buffet and his talent, but even he will tell you something along the same lines. No one can predict when stocks will reach their peak in a boom and the same logic applies here.
“Student loans are liabilities for the US govt only,the govt does not own student loans only the guarantees, anyone purchasing those guarantees would only hurt themselves while boosting the US”.
Correct, but you see the US Government has sold those guarantees to foreign banks and these banks will now treat student debts as any normal debt and will pursue them unlike say the government which tends to write a certain % off.. That is what has been done. The world has changed since 1990s. Who would have even dreamt that the US would be in such a predicament after the fall of the Soviet – debt to the ceiling and losing 3 wars it started with a DEPRESSION at home . YES it’s a DEPRESSION not a GREAT RECESSION.
If you do not understand what is going on in your country I’m truly sorry for you but the US as at today has 14.555 Trillion in debt and an unfunded liability of 115 trillion. The fact that the 14.555 trillion does not take into account the debt owed by the states is never discussed. Your actual debt is closer to 22 trillion as at today.
I would not lose too much sleep over the UNSC as it requires only 3 to veto Serbia being paraded. As the US can still muster UK and French votes then it’s no surprise.
The more important issue is the World Bank – since 1947 the World Bank has had a president from Europe and the vice president was from the US. Just recently this has changed where you have a European as president but it’s a Chinese banker who is vice president and the entire IMF is being reorganized to accommodate, get this, Brazil, India and Russia and it is expected to be finalized late this year or very early next year. So now you have the US, at best, one of the board members.
Ask you secretary of treasury why he has not told its citizens about his fact. I can’t post confidential work documents to satisfy you. If you find my posting as nonsense please more over to one of your Albanian media sites.
pre 12 godina
"As far as the US becoming a minor power, note that the US was still able to block Russia from parading Serbia before the Security council!
(pss, 29 July 2011 14:55)"
Big deal! The Russians are able to block "Kosova" from UN membership altogether! You Yankees ain't the only ones with the veto in case you forgot.
pre 12 godina
(sj, 30 July 2011 03:03)
# Comment link
You are so full of bs it is amazing. You have no concept of what student loans in the US are. Even if you were right about "foreign banks" purchasing the govt guarantees, they would still have to follow US law in collecting debt, and the law is very specific in what can and cannot be done.
The govt only owns loans that have already gone into default.
My advice go to a different subject it is totally apparent you have not a clue on this subject.
pre 12 godina
(sj, 30 July 2011 03:03)
World Bank has had a US president since its inception, it is the IMF that has had a European Director. The current World Bank president is still from the US. Maybe you should do a little research between your highly confidential meetings. As far as going to an Albanian site, I think I will stay and help dispel some of the dribble you try to convince your fellow "ultranationalists" is truth.
pre 12 godina
This situation will be resolved but the US will never be the same. It is dying on its feet and the whole world is watching. Recently the US sold both its student loans and gold reserves (one thing that the secretary of Treasury said would never be done) to give Obama some breathing room to negotiate the debt ceiling.
This was the last of the gold reserves worth about 400 billion. There is nothing left to sell!!!…!!
When you desperately rely on borrowings to send out civilian and military pensions you are in very deep doo doo.
(sj, 28 July 2011 13:51)
Give one credible source for your information. A link to any website that supports your claims. I know the response it is confidential information you have obtained from your sources that you cannot divulge.
Or your other usual claim wait until .... and you will see.
pre 12 godina
The only way to get the budget under control is to increase taxes and put further limits on spending. The Republicans, under George W(anker) Bush, made a complete mess of the economy for which all Americans will have to be paying for a very long time to come.
The Democrats have the right approach. Increase taxes on the rich, which is anyone with half a million or more. The republicans seem to be serving only the interests of a few including the Bush family who incidentally should all be tried for treason.
pre 12 godina
This situation will be resolved but the US will never be the same. It is dying on its feet and the whole world is watching. Recently the US sold both its student loans and gold reserves (one thing that the secretary of Treasury said would never be done) to give Obama some breathing room to negotiate the debt ceiling.
This was the last of the gold reserves worth about 400 billion. There is nothing left to sell!!!!!!!!!!!!!!!!!!
When you desperately rely on borrowings to send out civilian and military pensions you are in very deep doo doo.
pre 12 godina
It’s worth remembering that since the 1970s the ceiling has been raised more than 70 times and 10 times since 2000.
If the ceiling is raised, the problem is just kicked down the road a few years, gathering even more problems along the way.
On the other hand if the US really does default (and I don't think they will) it will make the thirties look like a tea party. I can't see how anyone could wish for that. A collapse will probably lead to fascism in the US and more wars around the globe.What the US needs is direct democracy by the people for the people.
pre 12 godina
I can’t force your secretary of Treasury to tell your people that it has sold assets but it has and you will read about it down the track. It was reported several weeks ago that this was an option if an agreement was not reached to give the President some breathing space.
No one can predict the exact time and moment of a financial boom or bust, but reading the signs can tell you that one or the other is on the way and the US is on the way down big time. I can’t help you if your own people want to bury their heads in the sand.
Even if the US started an austerity program today to balance the budget and repay the debt it would reduce it to a minor power in the world and it would take 3 to four generations to bring that debt under control. It’s not 14 trillion but a lot more as every state in the US is bankrupt.
(sj, 29 July 2011 11:21)
As I predicted you have no proof, none, nada, zip, zing to support your claims.
You apparently have no clue how the student loan system works. Having had one when I went to college and now my son has one, I think I understand better than a coffee shop waiter listening in on conversations trying to impress the Serbian world.
Student loans are liabilities for the US govt only,the govt does not own student loans only the guarantees, anyone purchasing those guarantees would only hurt themselves while boosting the US.
The loans are owned by private banks. The US govt inorder to get the banks to loan the money guarantees the payment in the event of a default by the recipient. There are no actual collateral to secure the loan as in home loans, car loans etc. Should an individual default on a student loan the government will pay the balance or negotiated balance to the bank and attempt to collect from the individual. But it is limited in actions that can take place, they cannot confiscate a primary residence(defaulters rarely have secondary housing), they cannot confiscate a primary vehicle as that would place an economic burden on the family. It can and does seize tax refunds however, not everyone gets a tax refund and anyone with brains would make sure not to pay a tax surplus and generate a tax refund that could be taken.
While I will agree that the US will see harder times than in the last recession, they will not reach the apocalypse you predict. However, in unstable economies such as Serbia it will be devastating, my only regret in such a situation is I cannot see the look on your face as you raise your hands and say "it wasn't suppose to happen to me"
In 25 years the face of the world may be different but today there is not an economy on the planet that would not suffer from a US collapse and to deny that does not give you much credit.
As far as the US becoming a minor power, note that the US was still able to block Russia from parading Serbia before the Security council!
pre 12 godina
Give one credible source for your information. A link to any website that supports your claims. I know the response it is confidential information you have obtained from your sources that you cannot divulge.
Or your other usual claim wait until .... and you will see.
(pss, 28 July 2011 14:38)
What source are you talking about? The US rating agencies all give the US AAA+ and sing happy songs of wealth will return to the US.
It’s the people with money i.e. the Asians that say the US is at best BBB-. I cant force western media to publish this fact. Can you imagine what would happen if they turned around and said the US is only a BBB-; the stock market would go down faster than rock out of a plane.
I can’t force your secretary of Treasury to tell your people that it has sold assets but it has and you will read about it down the track. It was reported several weeks ago that this was an option if an agreement was not reached to give the President some breathing space.
No one can predict the exact time and moment of a financial boom or bust, but reading the signs can tell you that one or the other is on the way and the US is on the way down big time. I can’t help you if your own people want to bury their heads in the sand.
Even if the US started an austerity program today to balance the budget and repay the debt it would reduce it to a minor power in the world and it would take 3 to four generations to bring that debt under control. It’s not 14 trillion but a lot more as every state in the US is bankrupt.
(sj, 29 July 2011 11:21)
It's well known the US has lost its AAA status years ago.But the official rating agencies-the same ones that gave Lehman Brothers AAA just before its collapse-won't be allowed to downgrade the US sovereign debt for obvious reasons.I think the BBB-is a bit generous and the link below shows the true rating of the US.
http://jhaines6.wordpress.com/2011/07/15/weiss-ratings-has-just-just-downgraded-u-s-debt-to-c-minu
I also agree with you the official debt is a lot higher because it doesn't include state and municipal debts.
pre 12 godina
Give one credible source for your information. A link to any website that supports your claims. I know the response it is confidential information you have obtained from your sources that you cannot divulge.
Or your other usual claim wait until .... and you will see.
(pss, 28 July 2011 14:38)
What source are you talking about? The US rating agencies all give the US AAA+ and sing happy songs of wealth will return to the US.
It’s the people with money i.e. the Asians that say the US is at best BBB-. I cant force western media to publish this fact. Can you imagine what would happen if they turned around and said the US is only a BBB-; the stock market would go down faster than rock out of a plane.
I can’t force your secretary of Treasury to tell your people that it has sold assets but it has and you will read about it down the track. It was reported several weeks ago that this was an option if an agreement was not reached to give the President some breathing space.
No one can predict the exact time and moment of a financial boom or bust, but reading the signs can tell you that one or the other is on the way and the US is on the way down big time. I can’t help you if your own people want to bury their heads in the sand.
Even if the US started an austerity program today to balance the budget and repay the debt it would reduce it to a minor power in the world and it would take 3 to four generations to bring that debt under control. It’s not 14 trillion but a lot more as every state in the US is bankrupt.
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http://thenewamerican.com/economy/commentary-mainmenu-43/8353-forbes-us-default-a-given
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PSS doesn't know where money come from or how many zeroes are required to reach the trillion level. Albanian economics 101.
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(pss, 29 July 2011 14:55)
Any who tells you that they can accurately predict the exact time (something like 6pm on 10 June 2014) when the US will falter is lying. You only have to look at their assets and liabilities which gives you a good indication of how well a nation is going. I have a lot of respect for the likes of Warren Buffet and his talent, but even he will tell you something along the same lines. No one can predict when stocks will reach their peak in a boom and the same logic applies here.
“Student loans are liabilities for the US govt only,the govt does not own student loans only the guarantees, anyone purchasing those guarantees would only hurt themselves while boosting the US”.
Correct, but you see the US Government has sold those guarantees to foreign banks and these banks will now treat student debts as any normal debt and will pursue them unlike say the government which tends to write a certain % off.. That is what has been done. The world has changed since 1990s. Who would have even dreamt that the US would be in such a predicament after the fall of the Soviet – debt to the ceiling and losing 3 wars it started with a DEPRESSION at home . YES it’s a DEPRESSION not a GREAT RECESSION.
If you do not understand what is going on in your country I’m truly sorry for you but the US as at today has 14.555 Trillion in debt and an unfunded liability of 115 trillion. The fact that the 14.555 trillion does not take into account the debt owed by the states is never discussed. Your actual debt is closer to 22 trillion as at today.
I would not lose too much sleep over the UNSC as it requires only 3 to veto Serbia being paraded. As the US can still muster UK and French votes then it’s no surprise.
The more important issue is the World Bank – since 1947 the World Bank has had a president from Europe and the vice president was from the US. Just recently this has changed where you have a European as president but it’s a Chinese banker who is vice president and the entire IMF is being reorganized to accommodate, get this, Brazil, India and Russia and it is expected to be finalized late this year or very early next year. So now you have the US, at best, one of the board members.
Ask you secretary of treasury why he has not told its citizens about his fact. I can’t post confidential work documents to satisfy you. If you find my posting as nonsense please more over to one of your Albanian media sites.
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"As far as the US becoming a minor power, note that the US was still able to block Russia from parading Serbia before the Security council!
(pss, 29 July 2011 14:55)"
Big deal! The Russians are able to block "Kosova" from UN membership altogether! You Yankees ain't the only ones with the veto in case you forgot.
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(sj, 30 July 2011 03:03)
# Comment link
You are so full of bs it is amazing. You have no concept of what student loans in the US are. Even if you were right about "foreign banks" purchasing the govt guarantees, they would still have to follow US law in collecting debt, and the law is very specific in what can and cannot be done.
The govt only owns loans that have already gone into default.
My advice go to a different subject it is totally apparent you have not a clue on this subject.
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(sj, 30 July 2011 03:03)
World Bank has had a US president since its inception, it is the IMF that has had a European Director. The current World Bank president is still from the US. Maybe you should do a little research between your highly confidential meetings. As far as going to an Albanian site, I think I will stay and help dispel some of the dribble you try to convince your fellow "ultranationalists" is truth.
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