USA vs. the World

Originally posted by devilwasp
Jeez whats with the anti- westy stuff here...??
Did someone have an ATS meeting without telling me?

Negatory! You would have been summoned immediately.

What don't give some article written by an angry liberal who just lost the election.

Btw I suppose people will compare anything just to incite more hate for the president.
Oh... by the way all this West Point hating only adds fuel for the fire. Can you feel the heat going up?

Originally posted by WestPoint23
What don't give some article written by an angry liberal who just lost the election.

Don't flatter yourself. Nobody is hating you here. I'm trying to answer your questions; but based on the above response, you seem intent on remaining in the dark. Suit yourself.

You call that educating? Please get an unbiased source that talks bout the problem instead of one that points fingers at people.

Originally posted by WestPoint23

You call that educating? Please get an unbiased source that talks bout the problem instead of one that points fingers at people.

LOL... Despite the fact you yourself are a biased source that loves to point fingers at people.

Yeah... I guess I’m bias but since when have I pointed fingers at others? I don't blame people, I only make them angry

Originally posted by EastCoastKid
Negatory! You would have been summoned immediately.

Damm must have missed the memo...stupid pigeon hole...
But seriosly ease off on the stuff guys...

Originally posted by WestPoint23

You call that educating? Please get an unbiased source that talks bout the problem instead of one that points fingers at people.

You will never truly learn until you are able to open your mind to ideas other than your own. Or at least, until you are able to consider them. You have a long way to go, obviously, considering you don't even know and understand (the source) you lambaste. Like I said, tho, if you wish to only hear your own choir, you will only understand a fraction or half the issue.

This close-mindedness is why the elite are so smug when they look down upon the red-state masses. The RSM's are only interested in the simple darkness they dwell in. Light (knowledge) is bred into them as an anathema. Knowledge (freedom) is the enemy. It's sad. To be bound like that, holding your own key.

Originally posted by WestPoint23
What is with your talking about our economy collapsing? ...

Your question was directed to someone else, but I just want to note that there is a reason why Asian central banks (the largest holders of currency reserves in this world) are switching gradually to the Euro.

In fact, a Hong Kong politician is so worried about the rush to the Euro and the declining Dollar that he stated not to hasten the switch as it may destabilize the whole world, as the Dollar will then decline more in value. Yet there is a reason why they want to switch their reserves from Dollar to Euro, and they do it gradually.

Dollar Gains; Hong Kong Policy Maker Sees Risk in Rush to Euros

...
``The euro may become so popular in this region, it may undermine the stability of international finance,'' Yam told a meeting of business executives in Hong Kong.
...
Asian central banks are very wary of a rapid appreciation in the euro, and by default, a rapid decline in the dollar,'' said Monica Fan, head of currency strategy in London at RBC Capital Markets. ``That's giving the dollar some support.''
...

quote.bloomberg.com...

The market is uncertain at this moment whether the US economy is healthy for the long run. It's not sure whether there will be a depreciation of the dollar (recession of us economy, consequence recession world economy) but there is also no certainty that the dollar will stabilize and gain in value. Luckily US interest rates went up this week (also to counter inflation), and with that foreigners are more motivated to lend money to fill the US trade deficit. Still it's to be seen whether the dollar (us economy) can stabilize and gain more ground.

Blobber



[edit on 6-4-2005 by Blobber]

Being that the dollar is not backed up by gold anymore, our paper money is basically worthless.

The Euro has been gaining steadily as the dollar has dropped. This trend will only continue.

The US economy is floated by the petro dollar. Each day the US makes money off the trading. If those countries holding those assets decided to re-denominate (to go with the Euro instead), we would no longer have the money to pay the interest on our debt. No money, no payment, big trouble.

It would behoove us to get back to a rational foreign policy. We cannot afford to alienate those nations who have so heavily invested in the USA. To put it simply, you don't go treating your lender badly then expect him to keep financing you. It's piss-poor judgement.

But hey - if you think about it, those powers that be who seem to be TRYING to break the US economy see US workers, for the most part, as cheap slave labor. If they helped crash our economy and started calling in all debt, about 95% of Americans would be bankrupt and virtually helpless. Enter Big Brother. Big Brother would gladly take the opportunity to either throw you into debtors prison where you would work for pennies - for the rest of your life - trying to pay back your debt - or you would be put into the military or some other government program. They would exert total control over our starving, bankrupt populace. The need for food and shelter is a powerful thing.

If there is ANY way, concentrate on getting out of debt and staying that way as SOON as you can! It's the only way to innoculate yourself - somewhat - from the harsh realities in this possible scenario.

Originally posted by EastCoastKid
Being that the dollar is not backed up by gold anymore, our paper money is basically worthless.

It doesn't matter whether or not it is backed up by the gold standard. The freaking problem is that you guys have widening trade deficits since the mid 90's of the last century. So, money must come somewhere else to pay the deficit. But after a decade of deficits (which is widening enormously) the creditors are wondering whether this is not a structural problem.

So it's like when someone knocks at your door each month and need to borrow money, and one day you are not certain whether he can pay you back.

Last year deficit alone was a huge 670 billion, just for comparison the whole US defense budget for 2004 was something like 450 billion.

Blobber



[edit on 6-4-2005 by Blobber]

Originally posted by Blobber

Originally posted by EastCoastKid
Being that the dollar is not backed up by gold anymore, our paper money is basically worthless.

It doesn't matter whether or not it is backed up by the gold standard. The freaking problem is that you guys have widening trade deficits since the mid 90's of the last century. So, money must come somewhere else to pay the deficit. But after a decade of deficits (which is widening) the creditors are wondering whether this is not a structural problem.

Blobber


[edit on 6-4-2005 by Blobber]

Structural or otherwise, it is a massive problem. We are the world's biggest debtor nation. If the federal government was held to account as we individuals are, it would be chaos. It doesn't help either that this administration has gone out of its way to alienate most of the world, allies included. We cannot expect these powers to not react - at some point. Altho we do not see or hear the movement, it is happening.

Originally posted by EastCoastKid

Structural or otherwise, it is a massive problem...

Well that is the biggest issue, is it structural or not? Is it someone who keeps on knocking on your door to borrow money, or is it cyclical (i.e. he only temporarily needs money). If it is only temporarily then the market will provide money easily, but if it's structural then we have a problem (especially now it's already 10 years growing, and lately growing enormously). That is why the market is very uncertain.

Blobber



[edit on 6-4-2005 by Blobber]

Originally posted by EastCoastKid
Structural or otherwise, it is a massive problem...

Originally posted by Blobber
If it is only temporarily then the market will provide money easily, but if it's structural then we have a problem (especially now it's already 10 years growing, and lately growing enormously). That is why the market is very uncertain.

Blobber

There's no going back at this point. We're so in over our heads, we will never be able to catch up with our debt. God help our children and their children, if we even make it that long.

I think we're definitely looking at a structural problem. There are things we can do; but we have to begin undoing the damage immediately. If we don't, we will be locked in to a very unpleasant fate.



[edit on 6-4-2005 by Blobber]

[edit on 19-09-2003 by EastCoastKid]

Originally posted by EastCoastKid
Originally posted by EastCoastKid

There's no going back at this point. We're so in over our heads, we will never be able to catch up with our debt. God help our children and their children, if we even make it that long.

I think we're definitely looking at a structural problem. There are things we can do; but we have to begin undoing the damage immediately. If we don't, we will be locked in to a very unpleasant fate.

Don't worry ECK, my parallel was a bit wrong, you will always be able to pay back.

I will use a different parallel. It's like a firm who needs loans. Well the bank (in this case the market) checks you credibility and they will give you a limit to what you can borrow.

If the firm is still in bad shape after the loan, well then there must be a reorganization of the firm. A reorganization is not the end of the world, but it can hurt very much for a long time. Espcially when it's a big firm that effects the whole world.

And it's the credibility of the firm that the market is now uncertain of: i.e. hasn't the limit already been used.

Blobber



[edit on 6-4-2005 by Blobber]

USA vs the World????? You don't need the world, just consider any small country can beat the yanks down. The first time, they got bomb in a military compound ( pearl harbour ), second time at world trade. The yanks always fought their war overseas and never within the country. The 911 incident with 2 buildings down already did so much damage to them.

The yanks are like paper tiger! Imagine if anyone drop 1 nuclear bomb in New York?

Originally posted by WestPoint23
Yeah... I guess I’m bias but since when have I pointed fingers at others? I don't blame people, I only make them angry

After the chaos and carnage of September 11th, it is not enough to serve our enemies with legal papers."
"America will never seek a permission slip to defend the security of our people."
"Every nation in every region now has a decision to make. Either you are with us, or you are with the terrorists."

I think you yanks are the biggest terrorists!!! Bombing everywhere......

Originally posted by United Nation
"Every nation in every region now has a decision to make. Either you are with us, or you are with the terrorists."

I think you yanks are the biggest terrorists!!! Bombing everywhere......

Sadly, a great deal of the world sees it that way, too. It's past time to get back to a sane foreign policy. And (to BLOBBER) a sane fiscal policy (of a balanced budget).

ECK

A criminal denies his crimes! Animal politics are influence from your TV, you live up to the name of an East Coast Yank!


One who commit a sin, repent from oneself!
Laozi

UN


[edit on 6-4-2005 by United Nation]

USA vs the World????? You don't need the world, just consider any small country can beat the yanks down. The first time, they got bomb in a military compound ( pearl harbour ), second time at world trade. The yanks always fought their war overseas and never within the country. The 911 incident with 2 buildings down already did so much damage to them.

Ok.... you saw what happened to Japan, and then Afghanistan, and no country would dare to try and invade the U.S. One they don't have the capabilities two it would not end up good for that country. You may see that as arrogant, but its the truth.

The yanks are like paper tiger! Imagine if anyone drop 1 nuclear bomb in New York?

Again with this paper tiger thing? Uhh... keep thinking we are a paper tiger.