Edwynn
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Joined: 10/26/2008
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quote:
ORIGINAL: Termyn8or
Tell me what country has no debt, or the countries with the lowest debt, in absolute terms as well as relative to their their GDP. Whoever is in the least debt is probably doing the best right ?
Which are those countries ?
And if al the countries are in debt, tell me - to whom, What entity is it that we owe our tithe or whatever that does not make itself known ? Where the fuck is all this money going ? If every country owes each other, why not just dedtract the difference and come out with a lower figure. For some reason there is some entity in between. How can I owe you forty million and you owe me forty million at the same time ?
This is (RealO be LISTENING CLOSE) what 1933 was all about. You see that debacle was not just the US. There is now someone else in the game. They are not necessary but their money, which they took from us, makes them able to continue to take form us, even as bad as our politicians don't like it, it happens. Too bad that our politicians don't get all that money for themselves.
But boil it down folks. If three hundred million people lose a tousand dollars each in a matter of a year, that money went somewhere. They did not burn the fucking shit, DO YOU UNDERSTAND ? This "Oh it's a loss" shit only goes so far. It was a GAIN for someone. Of that THERE IS NO DOUBT.
How many guesses do you want as to where the money went ?
And you know what ? My family didn't buy stock. We had IBM (immobliari) which was bought for a dime on the dollar by my Uncle "Midas". It split so much my tight pants were jealous. My Uncle bought the stock from a distressed customer when he worked at a finance company. Note I did not say worked FOR a finance company. Pennies on the dollar, but it did save the one guy's ass. And Unky was happy, had to give the stock away of course to Grampa and the brothers and sisters. (conflict of interest, there was an SEC even back then)
This is how business is done. At one time this same Uncle was running for Union President and got bought off. HE said he did alot better taking their offer, because to not meant war. War with these people is no good.
That is back when you could deal with people. You can't now. There is NO FUCKING CANDIDATE out there that will sit with you on the porch having some sweet tea and discuss the issues. His agenda is it, he think he leads, when in fact he is supposed to follow. He is supposed to represent us.
Fuck all these people, and you know what, I am no longer into live and let live, at least not here. You start this no abortion shit, go the fuck to Rome. GET OUT. FUCK YOU. It is time to just start killing these people. Goddammit we didn't bother them. Do we force them to kill their babies ?
</halfdrunk rant> [UNPROOFED]
T^T
The fact of the matter is that total national debt is public plus private debt, so the government can be debt free all it likes but if the private sector and households spend like there's no tomorrow, the effect is the same on external debt and balance of payments.
When aggregate domestic household spending is more than domestic savings, and people keep buying, there is insufficient savings to provide finance for domestic investment, so the savings have to come from the countries that save more than they spend. The offshore US government debt finance comes a lot from Chinese and Japanese savers, the small individual savings of the Chinese being of consequence because there are a bazillion of them. But the press never say anything about where the credit card financing and "I wanna open up a thrift shop" financing which far exceed US domestic savings comes from.
As it turns out, the countries that deal with public goods and services more effectively are the ones that provide them in the most efficient manner (which starts with them considering health care, significant parental leave policies, higher education, effective public transportation, realistic energy policies, etc., to be public goods and services in the first place).
When you don't have to chase around incessantly either shopping for health insurance or badgering the company to do what they're supposed to do, or don't have to make the choice between spending 1/2 to 2/3 of your paycheck on childcare OR quit your job because they only give you six week to 6 months to deal with the brat and be done with it and back to the job, etc.,
well, there's actually money to be saved, and a lot of it, from not having to spend on all that. At least that's what the Scandinavian countries have figured out. 45-49% personal taxes, and they are net savers (which, by the way, finances all the profligacy of the more "free market" countries). Which is also why they have lower corporate taxes too, something all the lower CT advocates in this country disingenuously overlook. If this doesn't tell us all we need to know about the fiasco of willy-nilly privatization of any and everything and the subsequent private debt sinkhole that other Western countries are in, I don't know what would.
Lots more to it than that, but we have to go a step at a time here.
The US ranks much higher vs. other countries in private debt as % of GDP, but not nearly as high in rank of public debt as % of GDP.
On a related note ... The simple math: positive net savings means net exports; negative net savings means net imports. Simple as that.
< Message edited by Edwynn -- 10/31/2011 2:34:35 AM >
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Question for the most worldly among us, economics - 
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