america's debt is growing that much! makes looking at mortgages interesting!
[url= http://www.bbc.co.uk/news/world-13906274 ]so says the bbc[/url]
If I had that much cash I'd still be overdrawn at the end of the month.
There's no doubt that it's all going to get very nasty. The Yanks are just getting themselves into a predicament like Greece. Will they face up to it though?
As long as the US continue to tread the fine line between pushing for Chinese devaluation of the remimbi and royally pissing off the Chinese, as reserve currency printers they're nowhere near getting themselves into a similar position to the Greeks.
So according to the graph US gov spending is now lower than when Bush was in office and US gov revenue is projected to shoot up ? I've got to say that I'm surprised about that unless I've misread something.
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Greek national debt is at 250K per person, so the US has a fair way to go.
Greeks paying the average railway worker 75K a year, and allowing them to retire on a final salary pension at 50 isn't going to help them either.
So its an exageration, but its still a huge gap and an issue of confidence. Will China accept the way it is being treated? Will the States be prepared to contribute to higher taxes and less in the way of infrasturcture? Most of the Americans I meet show little inclination to accept responsibility towards 'society'.
As long as oil continues to be traded in dollars they'll be ok.
Greeks paying the average railway worker 75K a year, and allowing them to retire on a final salary pension at 50 isn't going to help them either.
Have they got any jobs? 😆
Believe or not, no.
I wonder if what they will do when they default and cannot buy oil/goods from anyone.
Will the States be prepared to contribute to higher taxes and less in the way of infrasturcture?
Not whilst the current insane political system persists.
Time for a Second Republic I reckon.
Most of the Americans I meet show little inclination to accept responsibility towards 'society'.
There is no responsibility towards 'society'. The American constitution was originally set up specifically to avoid that - it was all about self reliance and no controlling state. It's all gone wrong admittedly, but as a 'society' the US was always intended not to have much of one.
Well there's a difference between society and the state, isn't there?
They live in a society as much as anyone else does, although Govt intervention is low for the reasons you explain.
From a philosophical point of view you could argue that we have a personal responsibility to society simply because we live in it.
This can't be helping 🙂
UK annual defence budget: £36.9 Billion
US Iraq & Iran annual air-conditioning budget: £12.5 Billion
That's it molgrips. And our participation, or not will come back to bite us one way or the other eventually.
no controlling state........but as a 'society' the US was always intended not to have much of one.
There's no such thing as "society" in the US ? Well I never, I guess that might explain why they feel so little responsibility towards it then.
I was also surprised to learn that they have "no controlling state", I wonder why they attach so much importance to the role of the president then ?
Still, I'm glad they've figured out how to have 300 million individuals living together without a state or society. That US constitution really must be something. I guess this is what happens when you put your trust in God.
Don't be sarcastic ernie it makes you look like a dick.
Where's the sarcasm molgrips ? (apart from the reference to God - I'll give you that one) Yes I am genuinely surprised to be told that there is "no controlling state" in the US, and the question 'why do they attach so much importance to the role of the president then ?' is likewise a perfectly genuine comment - I would certainly be interested in hearing the answer.
I'm less surprised to be told that there no such thing as society though. Or as in this case, much less of it in the US. But only because I've heard it so many times before - it's always a good get-out clause for those who want to abdicate all responsibilities towards their fellow countrymen.
And just to clear up a point........State = [i]The supreme public power within a sovereign political entity[/i] ........"power" being operative word. The whole purpose of the state is to control, it has no other purpose at all. There is no such thing as a 'non-controlling state', to suggest otherwise is absurd in the extreme. If there is "no controlling state" there is no state at all. And to claim that a country called 'the United States' has no state, would be, well, you know....
That chart is nothing - don't know if you've seen this before, it'll make your eyes boggle....
[url= http://www.usdebtclock.org/index.html ]US Debt Clock[/url]
Where's the sarcasm molgrips ?
Here.
Still, I'm glad they've figured out how to have 300 million individuals living together without a state or society
If that's not meant to be scarastic then you REALLY need to work on your presentation!
The whole purpose of the state is to control
Yeah true - however states vary on what they control and how much.
Yeah ok molgrips, I think we'll leave it at that - I've just seen yesterday's email from whichever mod......carry on 🙂
🙂