US could be going bankrupt

Discussion in 'Current Affairs, News and Analysis' started by whitecity, Jul 19, 2006.

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  1. Hmmmm!!!

    Well, apparently it can only afford to provide sandwiches to US citizens (on production of their passport) on a 'refugee' ship out of Beirut.
  2. This type of financial crisis is facing all western style welfare states. The US's financial situation is better than most.
  3. But not for long. How much longer can they sustain the massive cost of the Israeli ooops, I mean Iraqi situation?
  4. Could you provide an example Neo-Con?

    Just interested to know which "Western" nations have a deficit of this size or even close to it, and China holding the IOU's?
  5. Take a look at our own, consumer credit in excess of £1 trillion, thats a lot of zero's
    Several million people unable to meet their financial commitments.
    And a state machine running wild with taxation and expenditure
  6. Really good question, PTP! I particularly like to read about the "better than most" situation.

  7. The US's current financial situation is better than most Western nations.

    I do not know what future commitments other western nation have, but the US's welfare state is less extensive than other western nations and it has a growing population . I am assuming because of those facts that the future comments of the US ,while massive are less massive than other western nations on a per capita basis.
  8. Nobody is claiming that the end is neigh, just that the current economic policy is likely to have serious future consequences. Here's another from today's BBC.

    I don't like inflation. Do you? But it's one clever trick often pulled by governments to lower their own borrowing in real terms. Beware!
  9. As you keep repeating. Examples please? Or are we using the "debt is the new wealth" arguement so beloved of certain 'experts'?
  10. The number 3 (UK) is greater than the number 2.3 (US). QED. See above!!! :)
  11. They could always ask the resident Jewish population for a loan. I mean they are good for it!
  12. I gave you the debt example 2.3% of GDP as opposed to 3 % of GDP and it it higher in other European countries
    Unemployment in the US is less than in all major European states except the UK
    Taxes are lower on the average than in European states
    Per-capita income is greater
    growth in GDP in the US has been greater on the average than in Europe so
    financially the US is better off than our European counterparts
  13. Well they are already morally bankrupt so finish it off with fiscal bankruptcy
  14. Excel viewer can be downloaded here for free (9.9Mb).