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View Full Version : CIA factbook: USA worst economy in the world!


SandEagle
07-09-2011, 11:02 AM
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2187rank.html

:hmm:

even Nigeria is faring off better than us :\

MomentsofSanity
07-09-2011, 11:04 AM
I can believe it. Nigeria appears to have an abundance of princes. Every time I open my email another one pops up.

wirednuts
07-09-2011, 11:11 AM
well since weed runs about $100 an ounce for regular, yeah i believe it. thats close to an infinite markup, and people still say they dont make shit for profit on it.

in the last ten years, everything has doubled in cost while our wages have actually gone down. we have become slaves, and im tired of it. $675 in CO PAYS alone for my last couple doctor visits!! just ridiculous. it shouldnt cost $8k to run simple tests only to conclude the same exact things as they did 8 years ago.

i really hate this economy. its been like 6 years of absolute shit now. its a living nightmare.

wirednuts
07-09-2011, 11:15 AM
actually, that is a scary chart! just look at how much the US stands out on the bottom. going by this, we are absolutely fucked.

129 El Salvador (https://www.cia.gov/library/publications/the-world-factbook/geos/es.html) $ -907,000,000
2010 est.
130 Cambodia (https://www.cia.gov/library/publications/the-world-factbook/geos/cb.html) $ -918,000,000
2010 est.
131 Mauritius (https://www.cia.gov/library/publications/the-world-factbook/geos/mp.html) $ -949,000,000
2010 est.
132 Jordan (https://www.cia.gov/library/publications/the-world-factbook/geos/jo.html) $ -975,000,000
2010 est.
133 Mozambique (https://www.cia.gov/library/publications/the-world-factbook/geos/mz.html) $ -1,028,000,000
2010 est.
134 Serbia (https://www.cia.gov/library/publications/the-world-factbook/geos/ri.html) $ -1,046,000,000
2010 est.
135 Senegal (https://www.cia.gov/library/publications/the-world-factbook/geos/sg.html) $ -1,046,000,000
2010 est.
136 Honduras (https://www.cia.gov/library/publications/the-world-factbook/geos/ho.html) $ -1,048,000,000
2010 est.
137 Montenegro (https://www.cia.gov/library/publications/the-world-factbook/geos/mj.html) $ -1,102,000,000
2007 est.
138 Belgium (https://www.cia.gov/library/publications/the-world-factbook/geos/be.html) $ -1,129,000,000
2010 est.
139 Armenia (https://www.cia.gov/library/publications/the-world-factbook/geos/am.html) $ -1,138,000,000
2010 est.
140 Bosnia and Herzegovina (https://www.cia.gov/library/publications/the-world-factbook/geos/bk.html) $ -1,175,000,000
2010 est.
141 Albania (https://www.cia.gov/library/publications/the-world-factbook/geos/al.html) $ -1,245,000,000
2010 est.
142 Guatemala (https://www.cia.gov/library/publications/the-world-factbook/geos/gt.html) $ -1,345,000,000
2010 est.
143 Costa Rica (https://www.cia.gov/library/publications/the-world-factbook/geos/cs.html) $ -1,349,000,000
2010 est.
144 Jamaica (https://www.cia.gov/library/publications/the-world-factbook/geos/jm.html) $ -1,382,000,000
2010 est.
145 Tunisia (https://www.cia.gov/library/publications/the-world-factbook/geos/ts.html) $ -1,389,000,000
2010 est.
146 Georgia (https://www.cia.gov/library/publications/the-world-factbook/geos/gg.html) $ -1,404,000,000
2010 est.
147 Kenya (https://www.cia.gov/library/publications/the-world-factbook/geos/ke.html) $ -1,414,000,000
2010 est.
148 Congo, Democratic Republic of the (https://www.cia.gov/library/publications/the-world-factbook/geos/cg.html) $ -1,470,000,000
2010 est.
149 Equatorial Guinea (https://www.cia.gov/library/publications/the-world-factbook/geos/ek.html) $ -1,477,000,000
2010 est.
150 Zimbabwe (https://www.cia.gov/library/publications/the-world-factbook/geos/zi.html) $ -1,503,000,000
2010 est.
151 Tanzania (https://www.cia.gov/library/publications/the-world-factbook/geos/tz.html) $ -1,523,000,000
2010 est.
152 Sri Lanka (https://www.cia.gov/library/publications/the-world-factbook/geos/ce.html) $ -1,784,000,000
2010 est.
153 Ghana (https://www.cia.gov/library/publications/the-world-factbook/geos/gh.html) $ -1,871,000,000
2010 est.
154 Slovakia (https://www.cia.gov/library/publications/the-world-factbook/geos/lo.html) $ -1,930,000,000
2010 est.
155 Hungary (https://www.cia.gov/library/publications/the-world-factbook/geos/hu.html) $ -2,128,000,000
2010 est.
156 Yemen (https://www.cia.gov/library/publications/the-world-factbook/geos/ym.html) $ -2,181,000,000
2010 est.
157 Ethiopia (https://www.cia.gov/library/publications/the-world-factbook/geos/et.html) $ -2,232,000,000
2010 est.
158 Croatia (https://www.cia.gov/library/publications/the-world-factbook/geos/hr.html) $ -2,312,000,000
2010 est.
159 Peru (https://www.cia.gov/library/publications/the-world-factbook/geos/pe.html) $ -2,315,000,000
2010 est.
160 Afghanistan (https://www.cia.gov/library/publications/the-world-factbook/geos/af.html) $ -2,475,000,000
2009 est.
161 Cyprus (https://www.cia.gov/library/publications/the-world-factbook/geos/cy.html) $ -2,500,000,000
2010 est.
162 Panama (https://www.cia.gov/library/publications/the-world-factbook/geos/pm.html) $ -2,523,000,000
2010 est.
163 Sudan (https://www.cia.gov/library/publications/the-world-factbook/geos/su.html) $ -2,595,000,000
2010 est.
164 Chad (https://www.cia.gov/library/publications/the-world-factbook/geos/cd.html) $ -2,600,000,000
2010 est.
165 Pakistan (https://www.cia.gov/library/publications/the-world-factbook/geos/pk.html) $ -2,641,000,000
2010 est.
166 Kosovo (https://www.cia.gov/library/publications/the-world-factbook/geos/kv.html) $ -2,716,000,000
2010 est.
167 Ireland (https://www.cia.gov/library/publications/the-world-factbook/geos/ei.html) $ -3,191,000,000
2010 est.
168 Dominican Republic (https://www.cia.gov/library/publications/the-world-factbook/geos/dr.html) $ -3,862,000,000
2010 est.
169 New Zealand (https://www.cia.gov/library/publications/the-world-factbook/geos/nz.html) $ -4,504,000,000
2010 est.
170 Belarus (https://www.cia.gov/library/publications/the-world-factbook/geos/bo.html) $ -5,062,000,000
2010 est.
171 Colombia (https://www.cia.gov/library/publications/the-world-factbook/geos/co.html) $ -5,946,000,000
2010 est.
172 Czech Republic (https://www.cia.gov/library/publications/the-world-factbook/geos/ez.html) $ -5,956,000,000
2010 est.
173 Lebanon (https://www.cia.gov/library/publications/the-world-factbook/geos/le.html) $ -6,972,000,000
2010 est.
174 Mexico (https://www.cia.gov/library/publications/the-world-factbook/geos/mx.html) $ -7,000,000,000
2010 est.
175 Morocco (https://www.cia.gov/library/publications/the-world-factbook/geos/mo.html) $ -7,922,000,000
2010 est.
176 Romania (https://www.cia.gov/library/publications/the-world-factbook/geos/ro.html) $ -7,934,000,000
2010 est.
177 Vietnam (https://www.cia.gov/library/publications/the-world-factbook/geos/vm.html) $ -12,220,000,000
2010 est.
178 Poland (https://www.cia.gov/library/publications/the-world-factbook/geos/pl.html) $ -12,330,000,000
2010 est.
179 South Africa (https://www.cia.gov/library/publications/the-world-factbook/geos/sf.html) $ -16,510,000,000
2010 est.
180 Greece (https://www.cia.gov/library/publications/the-world-factbook/geos/gr.html) $ -17,100,000,000
2010 est.
181 Portugal (https://www.cia.gov/library/publications/the-world-factbook/geos/po.html) $ -19,030,000,000
2010 est.
182 India (https://www.cia.gov/library/publications/the-world-factbook/geos/in.html) $ -26,910,000,000
2010 est.
183 Australia (https://www.cia.gov/library/publications/the-world-factbook/geos/as.html) $ -35,230,000,000
2010 est.
184 Turkey (https://www.cia.gov/library/publications/the-world-factbook/geos/tu.html) $ -38,820,000,000
2010 est.
185 Canada (https://www.cia.gov/library/publications/the-world-factbook/geos/ca.html) $ -40,210,000,000
2010 est.
186 United Kingdom (https://www.cia.gov/library/publications/the-world-factbook/geos/uk.html) $ -40,340,000,000
2010 est.
187 Brazil (https://www.cia.gov/library/publications/the-world-factbook/geos/br.html) $ -52,730,000,000
2010 est.
188 France (https://www.cia.gov/library/publications/the-world-factbook/geos/fr.html) $ -53,290,000,000
2010 est.
189 Italy (https://www.cia.gov/library/publications/the-world-factbook/geos/it.html) $ -61,980,000,000
2010 est.
190 Spain (https://www.cia.gov/library/publications/the-world-factbook/geos/sp.html) $ -66,740,000,000
2010 est.
191 United States (https://www.cia.gov/library/publications/the-world-factbook/geos/us.html) $ -561,000,000,000
2010 est.

Inspector Jihad
07-09-2011, 11:20 AM
lol. only if account balance was an end-all economic indicator.

Craig234
07-09-2011, 11:21 AM
'Deficits don't matter'

- The guy the Republicans put in as VP/'sort of the real President'

Who dd he say this to? The Treasury Secretary, who was concerned about deficits.

He added, "We won the midterms (congressional elections). This is our due."

To quote, "a month later, Cheney told the Treasury secretary he was fired."

silverpig
07-09-2011, 11:33 AM
lol. only if account balance was an end-all economic indicator.

No kidding. This is trade balance. It's not good to be at either end. You want to be right around 0.

Capt Caveman
07-09-2011, 11:56 AM
lol. only if account balance was an end-all economic indicator.

Correct. But the ignorant need something to whine about. Trying to understand the numbers would be too much work or be beyond their mental capacity.

Attic
07-09-2011, 12:20 PM
How to fix?

How much of that figure is due to interest payments on our debt?

HAL9000
07-09-2011, 12:23 PM
Holy shit you guys are $500,000,000,000 or so below second place.

eskimospy
07-09-2011, 12:27 PM
Well that settles it guys, lets all move to the Democratic Republic of the Congo! I hear their economy is way better than ours.

Not only is this a dumb comparison, period, but it doesn't even take into account the deficit as a percentage of GDP. There are a number of countries with greater deficits as compared to their GDP.

Jhhnn
07-09-2011, 12:30 PM
No kidding. This is trade balance. It's not good to be at either end. You want to be right around 0.

Heh. Countries at the top end are *showing a profit* at the national level, so they can maintain things like social safety nets, infrastructure, real growth if they so desire.

It's also very, very easy for them to trim their balances downward, because they're not hostage to the whims of international bankers & capitalists.

The US? We're being systematically looted by our own financial elite, and we're too dumb, too caught up in right wing fantasy & rhetoric to do anything about it. It's a race to the bottom, and we're winning.

No job? No raise if you have one? Underwater on the mortgage? Price of everything wearing you down? What you need is... Austerity! Yep. Cutting federal spending to the bone, putting more people out of work, is just the ticket for what ails you. The confidence fairy will come & keep the bogeyman bond vigilantes at bay, so that the Job Creators! can do their thing with deregulated banking in the free market world economy! Free trade, too! If it's Free! it's gotta be good, right?

You've always wanted to cast aside all your worldly possessions to better follow Jesus, and American Capitalists are just helping you out, showing you the way, the light at the end of the tunnel...

SandEagle
07-09-2011, 01:48 PM
Correct. But the ignorant need something to whine about. Trying to understand the numbers would be too much work or be beyond their mental capacity.

studies have shown that people who don't know anything about a subject try to make it look like they know about said subject by making blanket statements that generalize and try to belittle the other party, i.e., "the ignorant".

study isn't scientific since it was conducted by me and you as the the test subject. error +/- .0005%

xj0hnx
07-09-2011, 02:05 PM
The US? We're being systematically looted by our own financial elite, and we're too dumb, too caught up in left and right wing fantasy & rhetoric to do anything about it. It's a race to the bottom, and we're winning.


ftfy :thumbsup:

silverpig
07-09-2011, 04:57 PM
Heh. Countries at the top end are *showing a profit* at the national level, so they can maintain things like social safety nets, infrastructure, real growth if they so desire.

It's also very, very easy for them to trim their balances downward, because they're not hostage to the whims of international bankers & capitalists.

The US? We're being systematically looted by our own financial elite, and we're too dumb, too caught up in right wing fantasy & rhetoric to do anything about it. It's a race to the bottom, and we're winning.

No job? No raise if you have one? Underwater on the mortgage? Price of everything wearing you down? What you need is... Austerity! Yep. Cutting federal spending to the bone, putting more people out of work, is just the ticket for what ails you. The confidence fairy will come & keep the bogeyman bond vigilantes at bay, so that the Job Creators! can do their thing with deregulated banking in the free market world economy! Free trade, too! If it's Free! it's gotta be good, right?

You've always wanted to cast aside all your worldly possessions to better follow Jesus, and American Capitalists are just helping you out, showing you the way, the light at the end of the tunnel...

This isn't a reflection of government spending at all. It's exports - imports.

If you are like China, you are producing way too much. Pollution is high, your population is overworked, and you aren't enjoying the fruits of your labour.

I agree, it's better to be at the top than at the bottom, but it's best to be right around neutral.

Capt Caveman
07-09-2011, 09:00 PM
studies have shown that people who don't know anything about a subject try to make it look like they know about said subject by making blanket statements that generalize and try to belittle the other party, i.e., "the ignorant".

study isn't scientific since it was conducted by me and you as the the test subject. error +/- .0005%

It's not a study, it's a statistic. You're threads show a consistent ignorance. Please find me a definition for the statistic that you've posted to demontrate that it indicates that the USA is the worst economy in the world.

Have you ever taken an economics class or understand macro-economics at all? It's a big no to either. You are either trolling, retarded or a retarded troll.

ProfJohn
07-09-2011, 09:05 PM
Hasn't Japan been in a recession for the past 2 decades?

It also has the highest debt to GDP in the world.

Jhhnn
07-09-2011, 09:25 PM
Hasn't Japan been in a recession for the past 2 decades?

It also has the highest debt to GDP in the world.

Not a recession, but rather a listless period of slow growth following their own housing boom & bust in the 90's.

It's been pretty poorly understood by the American public, but not by our financial sector, who apparently used it as a template for our "Ownership Society"...

Debt/GDP ratio for Japan is misleading, because their strong positive balance of trade means they can afford to maintain debt, not to mention that they hold enormous reserves in other nation's debt, like our own, all at the same time. Their own governmental debt is entirely internal, as well.

SandEagle
07-09-2011, 10:45 PM
It's not a study, it's a statistic. You're threads show a consistent ignorance. Please find me a definition for the statistic that you've posted to demontrate that it indicates that the USA is the worst economy in the world.

Have you ever taken an economics class or understand macro-economics at all? It's a big no to either. You are either trolling, retarded or a retarded troll.

i see. since you cannot back up your claims, you resort to the typical name-calling to silence me. typical caveman behavior. but alas, it is the CIA that published those stats, not me. if you have a problem with the numbers, take it up with them.

SandEagle, PhD

eskimospy
07-09-2011, 10:46 PM
i see. since you cannot back up your claims, you resort to the typical name-calling to silence me. typical caveman behavior. but alas, it is the CIA that published those stats, not me. if you have a problem with the numbers, take it up with them.

SandEagle, PhD

Do you understand that you can't use a country's trade balance to determine which one has the better economy?

xj0hnx
07-09-2011, 11:44 PM
i see. since you cannot back up your claims, you resort to the typical name-calling to silence me. typical caveman behavior. but alas, it is the CIA that published those stats, not me. if you have a problem with the numbers, take it up with them.

SandEagle, PhD

It isn't a matter of who published what, it's a matter of your absolute, complete and utter failure to comprehend what it means in a given context.

Inspector Jihad
07-10-2011, 01:14 AM
It isn't a matter of who published what, it's a matter of your absolute, complete and utter failure to comprehend what it means in a given context.

+2

DesiPower
07-10-2011, 07:00 AM
Millions of Americans have helped the Nigerian prince transfer money and that why the country is rich now.

DesiPower
07-10-2011, 07:04 AM
here's an idea, lets start a war with China, when they back fight, we quickly surrender and let them take over US of A, and THEN, ladies and g'men, China will become the poorest nation :thumbsup:

Bryf50
07-10-2011, 12:56 PM
here's an idea, lets start a war with China, when they back fight, we quickly surrender and let them take over US of A, and THEN, ladies and g'men, China will become the poorest nation :thumbsup:
Better Idea
http://www.youtube.com/watch?v=TRgRz3nSG7o

metalfacepc
07-11-2011, 04:19 PM
I believe that America can maintain (and even lower) its debt, it will just take some time. For this reason, I think it is unfair to say "poorest," but this amount of debt is still alarming

PingviN
07-11-2011, 04:31 PM
I believe that America can maintain (and even lower) its debt, it will just take some time. For this reason, I think it is unfair to say "poorest," but this amount of debt is still alarming

Yes, time has proven to be an excellent way of reducing debt. More time will probably solve everything.

JS80
07-11-2011, 06:04 PM
That doesn't rank the economy. That ranks the suckers, with China being the biggest suckers with the highest positive current account balance, and us being the beneficiaries of the Chinamen's stupidity and being last.

RFE
07-11-2011, 06:22 PM
That doesn't rank the economy. That ranks the suckers, with China being the biggest suckers with the highest positive current account balance, and us being the beneficiaries of the Chinamen's stupidity and being last.

Surplus cash is foolish, whereas tremendous debt is advantageous?

Perhaps you should go out and take advantage of some banks by maxing out multiple credit cards. Those foolish banks might just let you benefit from such a clever move.

iGas
07-11-2011, 06:38 PM
Balance of trade (http://en.wikipedia.org/wiki/Balance_of_trade)


http://upload.wikimedia.org/wikipedia/commons/thumb/8/80/US_Trade_Balance_1980_2010.svg/675px-US_Trade_Balance_1980_2010.svg.png
US Trade Balance 1980 2010.svg

The steep trade imbalance trend seems to be started from the Clinton years.

North American Free Trade Agreement (NAFTA) (http://www.ustr.gov/trade-agreements/free-trade-agreements/north-american-free-trade-agreement-nafta)

Trade Balances

The U.S. goods trade deficit with NAFTA was $94.6 billion in 2010, a 36.4% increase ($25 billion) over 2009. The U.S. goods trade deficit with NAFTA accounted for 26.8% of the overall U.S. goods trade deficit in 2010.

The United States had a services trade surplus of $28.3 billion with NAFTA countries in 2009 (latest data available).

NAFTA's Winners And Losers (http://www.investopedia.com/articles/economics/08/north-american-free-trade-agreement.asp#axzz1Rs5CmoIT)

Overall Impact
The long-time growth in the U.S. trade deficit accelerated dramatically after NAFTA became effective in 1994. According to the Bureau of Labor Statistics, the $30 billion U.S. trade deficit in 1993 increased 281% to an inflation-adjusted $85 billion in 2002.

Jhhnn
07-11-2011, 06:41 PM
That doesn't rank the economy. That ranks the suckers, with China being the biggest suckers with the highest positive current account balance, and us being the beneficiaries of the Chinamen's stupidity and being last.

The Chinese are engaging in enormous investment in infrastructure & growing industrial capacity, also in investment in a variety foreign ventures & sovereign debt instruments, including our own. They have money to burn & their economy can't absorb the excess income as fast as they'd like.

It's not really fair to compare their emerging economy to our own. OTOH, it's perfectly reasonable to compare ours to Germany, for example... Where the whole concept of corporate governance is different, where unions, communities & suppliers all have a voice on corporate boards...

Mr. Pedantic
07-11-2011, 06:55 PM
I'll just make this one post in P&N to say that near enough as makes no difference, the US deficit is equal to the 2nd through 29th largest deficits combined.

JS80
07-11-2011, 07:11 PM
Surplus cash is foolish, whereas tremendous debt is advantageous?

Perhaps you should go out and take advantage of some banks by maxing out multiple credit cards. Those foolish banks might just let you benefit from such a clever move.

We send them toilet paper they send us their slave labor. Then they send us back toilet paper and buy US treasuries earning 0.01%. Again, who is the fool?

Jhhnn
07-11-2011, 07:32 PM
We send them toilet paper they send us their slave labor. Then they send us back toilet paper and buy US treasuries earning 0.01%. Again, who is the fool?

They buy treasuries atm for the same reasons as anybody else- they're a safe parking place, earning more than nothing.

They also use american dollars to buy commodities & technology in the world market, and still have a surplus. they can't spend fast enough, unlike us...

Their economy is dynamic, and changing, quite by design. It'll be a lot different 10 years from today, if they have their way about it, and there's no reason they won't-

http://chinawatch.washingtonpost.com/2011/03/change-of-model-imperative.php

Craig234
07-12-2011, 08:21 AM
nm

piasabird
07-12-2011, 08:24 AM
As soon as we raise the debt ceiling and increase taxes then the the USA will be the greatest nation on earth. Maybe we can tax political adds at %100.

Do you really believe this baloney? Every time we increase the cost of doing business in the USA all the jobs go overseas and an even alarmingly higher rate.

Can you say 3rd world Country?

Craig234
07-12-2011, 08:36 AM
As soon as we raise the debt ceiling and increase taxes then the the USA will be the greatest nation on earth. Maybe we can tax political adds at %100.

Do you really believe this baloney? Every time we increase the cost of doing business in the USA all the jobs go overseas and an even alarmingly higher rate.

Can you say 3rd world Country?

The problem isn't the 'cost of doing business in the USA'. If the 'cost of doing business' were the same in the USA as in every other country, America would BE a third world country. That would mean that workers here made the dollar or two a day so many other countries do, that costs like real estate were worth the same low amounts, etc.

And that's the direction things have been shifting, as business owners and the financial community take all the growth while workers are cut against and again to grow profits.

The problem is our shift in policies that allowed the raping of our wealth by a few at the top.

Which is what has happened - the top 1% getting 88% of the economic recovery's growth. Top CEO income up 23% in 2010 while the rest of America was 0%-1%.

Part of being the 'richest country in the world' is HAVING higher costs.

Genx87
07-12-2011, 09:42 AM
Define best. Oh you mean trade balance in your book equals best? By all means go hit nigeria and let us know how the rest of their economy looks lol

xj0hnx
07-12-2011, 12:44 PM
nm

Best Fail234 post evar!

Whiskey16
07-12-2011, 05:23 PM
The steep trade imbalance trend seems to be started from the Clinton years.Selective bias, eh?

Coincidently, also the exact period when China altered its economic policy with resounding changes in growth and output. D:

I'm likely not out to lunch upon this, so I won't place such Chinese responsibility upon Clinton and NAFTA.

Hint, NAFTA ain't the USA scapegoat for failure as you appear to have attempted. In a strong generalisation, the USA's failing were of manufacturers' complacency of turning of out rather poorly competitive products -- notably vehicles on to consumer aircraft, etc...changing global markets with new and growing competitors, and new niches that were not adequately capitalised upon. Also strong failures to adapt to GLOBAL (as not only the USA faced such challenges) change in desirable locations for manufacturing and assembly. Greater trade deficits were the result of the USA not being adequately agile in redirecting portions of its economy from pure manufacturing and compounded by increasing the competitive quality of such manufacturing. Large and maturing states have increased the competition for R&D, service, banking, and technical services....

Where the USA once had fewer to compete against in the global market -- it now has many more.

Complex issues with many causes and not a simple of mix'n match of a personal vendetta against a single US political administration and timing of a single trade deal.

RFE
07-12-2011, 07:22 PM
We send them toilet paper they send us their slave labor. Then they send us back toilet paper and buy US treasuries earning 0.01%. Again, who is the fool?

I do see your point. Granted, if the design or end result is a default, then they are truly the fools. Yet, if our government is hell bent on paying them back, that's a very large burden that we'll be saddled with.

Jhhnn
07-12-2011, 07:52 PM
I do see your point. Granted, if the design or end result is a default, then they are truly the fools. Yet, if our government is hell bent on paying them back, that's a very large burden that we'll be saddled with.

Heh. The vast majority of Treasury debt is supposedly held by Americans, and there's no differentiation wrt what's held by foreigners. That US investment firm which is a wholly owned subsidiary of an outfit registered in the Bahamas banking in the Netherland Antilles with offices in New York & Hong Kong could be owned by anybody... and there's really no way to tell. It's the beauty of deregulated finance in the global economy...

The Chinese are playing it smart. As they make changes in their economy, promote internal consumption, they have ability to invest their reserves, liquidate their T bonds as required... even if they sell 'em at a discount, they're still doing well, not to mention the fact that their large interest serves to stabilize US policy in their favor. If they dumped their holdings over night, downward pressure on the value of the dollar would be enormous. Not that they intend such a thing, at all, but in the world of international finance, good friends are even better friends when they depend on you to do the right thing...

Trianon
07-12-2011, 09:02 PM
According to this gentleman, it's all the ut's fault:
http://www.cnbc.com/id/43730337
What else points to the inability of young workers to compete?

“Most disturbing is that the average income of U.S. households headed by 25-year-olds and younger has been declining relative to the average income of the baby boomer population. This is a reasonably good indication that the productivity of the younger part of our workforce is declining relative to the level of productivity achieved by the retiring baby boomers. This raises some major concerns about the productive skills of our future U.S. labor force.”

metalfacepc
07-15-2011, 09:59 AM
Yes, time has proven to be an excellent way of reducing debt. More time will probably solve everything.
Well, yes, time... along with some austerity measures of course

JS80
07-15-2011, 10:40 AM
Heh. The vast majority of Treasury debt is supposedly held by Americans, and there's no differentiation wrt what's held by foreigners. That US investment firm which is a wholly owned subsidiary of an outfit registered in the Bahamas banking in the Netherland Antilles with offices in New York & Hong Kong could be owned by anybody... and there's really no way to tell. It's the beauty of deregulated finance in the global economy...

The Chinese are playing it smart. As they make changes in their economy, promote internal consumption, they have ability to invest their reserves, liquidate their T bonds as required... even if they sell 'em at a discount, they're still doing well, not to mention the fact that their large interest serves to stabilize US policy in their favor. If they dumped their holdings over night, downward pressure on the value of the dollar would be enormous. Not that they intend such a thing, at all, but in the world of international finance, good friends are even better friends when they depend on you to do the right thing...

It would be foolish for them to dump it in a fire sale. Fed could pick it up at a discount while they take a haircut all to the benefit to us. You give the chinamen too much credit.