icj1
pre 13 godina
US is not going through “a financial crises” as you call it, but it’s closer to a financial catastrophe. Let me just give you a simple example – the US borrows $1 trillion to cover social security pensions; lets repeat that for you; the US borrows money to pay for the basics.
(sj, 23 August 2011 05:33)
As usual, I’m very happy to support your brilliant arguments. Unfortunately, those who put the money where their mouth is disagree and they think US financial condition is one of the less worse in the world since they are fighting to lend money to the US. Nobody in his or her sane mind would lend money to somebody who is close to a “financial catastrophe”. I understand your passion, but I usually tend to trust those who gets to lose if they are not correct; you don’t lose anything (beside the face on this forum) if things are not as you say.
The US government owes at the moment over $14.77 trillion and by December it will be $15.6 trillion. In August next year it will exceed well over $17 trillion. At today’s rate the US owes 102% of its GDP by August 2012 it will be 125%. At today’s rates the US has a liability of $115 trillion and by August next year that will rise to $120 trillion. Let me put this to you; if you think that the US economy was numero uno this fall then who or what took into account the fall of houses prices, up to 59% in some areas, into account when doing their maths. Even better in December 2009 China surpassed the Japanese economy but it was not until January this year the west admitted to this fact – it trying to ease the pain. They are telling you lies.
(sj, 23 August 2011 05:33)
Well, if you want to call China “numero uno”, by all means, go ahead. However, I’d prefer to be called “numero cento” and earn, on average, 6x more than be called “numero uno” and live in poverty. But, of course, everybody has its own preferences. Some people like better the labeling that the actual living.
Standard and Poors is irrelevant and so are most of the other western rating agencies since 2007 because they gave the toxic loans the AAA+ rating so announcing a down grading of US is of no consequence as most Asians have their own agencies now. It’s Standard and Poors trying hard to boost their credibility. For your information the true rating for the US is somewhere between AA- and BBB. Cold water on the face is not enough.
(sj, 23 August 2011 05:33)
Well, than means than that the BBB becomes the new top rating :) Don’t you understand that whatever the US rating is, that becomes the top rating. Indeed, as soon as the US rating was lowered, investors started to fight even more to lend money to the US, lowering the rates further.
I’ll tell you the difference between the Chinese communists and the US democracy. The Chinese maybe communists and there is a lot of corruption, but they are patriots first to their people and when they make a decision its always long term.
(sj, 23 August 2011 05:33)
That’s good. Hopefully in the long term the average Chinese will finally achieve the standard of living of the average American.
The Chinese have $2.5 trillion in cash and $800 billion in US bonds. Yes if the US falters it will be felt, but the world will not fall over for your information.
(sj, 23 August 2011 05:33)
Oh yeah, it will be felt and big time. But China and US have both a vested interest to not allow that. So rest assured.
You see all China has to do is announce the construction of another 10 cities and their economy leaps forward.
(sj, 23 August 2011 05:33)
That’s great. Everybody would like all countries to develop and escape poverty which only produces conflicts. Of course, they have to construct after they announce them. But does China actually need them ? Or just for the heck of it to please you ?
Why Joe Biden is over in Beijing trying to reassure the Chinese that their investments in US bonds is safe? Do the maths.
(sj, 23 August 2011 05:33)
Precisely… China is US’s biggest creditor and both countries get to profit from that.
Sale of student loans and remaining gold reserves of 400 billion was raised by about 2 months ago by your Treasury secretary. Not everything is published in the media but funny enough it was covered in the Australian newspaper, a national publication in Australia.
(sj, 23 August 2011 05:33)
Wow, you sj was the only one to see it. It must have been a very important newspaper since it had a circulation of 1.
If the US has no fear of the Serbs and what might happened then go ahead and bring them under control –
(sj, 23 August 2011 05:33)
Why should the US bring the Serbs are control ? Why should the US fear the Serbs ? US soldiers are in Kosovo as part of KFOR under 1244, and, as far as I know, Serbs say that they strongly support 1244.
In your eyes the US is the only super power left, why not give it a try and see how long it will take before the US waves 1244 and how everyone should abide by that agreement.
(sj, 23 August 2011 05:33)
FYI, US has done that already 10+ years ago when it voted to approve 1244 and when it recognized Kosovo’s UDI which was in accordance with 1244.
China only exports something like 15% to the US while the vast amount of production goes to meet their people’s needs – this is not 1950. China has brand new 16 lane highways.
(sj, 23 August 2011 05:33)
Dude, compose yourself and start to think. What the construction of highways has to do with the merchandise that China produces for internal or external buyers.
You people in the US are like mushroom; kept in the dark and fed on BS via your media telling you how wonderful the US is. The Russians are in the process of piping direct their oil to China.
(sj, 23 August 2011 05:33)
Woow, we should then go to China which is well known for its openness and the very alternative and independent sources of information.
As far as loans are concerned, yes that is true Serbia does borrow but its the same with the US. As Serbia has not progressed far its fall will be small but watch out for that thud when the US collapses.
(sj, 23 August 2011 05:33)
Sj, I’ve tried to follow your advice for many years waiting for the thud, but that damn thud refuses and refuses to come. Please give us an ETA because we don’t have 100 yrs to live to hear it.
You Americans do need to leave your shores and travel some. This is not 1960, but 2011. The world has changed Mr Frodo, big time and it does not centre around the US.
(sj, 23 August 2011 05:33)
Even though I’m not an American, I’d do it immediately. Just tell me (and the 13 million people who applied for the US immigration lottery last year) where should we go since you know much better than all of us.
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