Javierdude22: Quote:
Originally posted by Mr. Big Stuff+May 25 2004, 05:08 AM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Mr. Big Stuff @ May 25 2004, 05:08 AM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-jay_too@May 25 2004, 04:17 AM
On occasion, I have been know to criticize a Bush policy or position. ;) |
I do have one thing, however. The deficits deal. Do they REALLY matter? I dunno. On the one hand, it has been said that as long as it is manageaable (whatever the hell that means) then it is okay. Some say it doesnt matter at all, while others make it seem like the sky is falling because of it. Because there are so many varying opinions on it, I cannot blame him for sticking to his. (he just better be right)
If you have any insight into the Deficits (links, books, whatever) it would be GREATLY appreciated.
Ken [/b][/quote]
LOLn Orca, the thing is that even though I don't have any voting rights in either the US or Britain, I feel more and more their policies breathing down my neck.
I would like to propose a 1/4th vote in the coming elections for each European.
Oh well...one can dream right?
About the deficit. I am not really an economist...wait, scratch that...I'm pretty clueless actually on hardcore economics, but I do know this deficit is not sustainable
in the long run.
In once read an article that the US is running on Europe's savings account. Money doesnt automatically pop up from somewhere, it needs to be loaned from people who have it to spare. With all the hardships suffered in Europe (and a Jewish influence) we have learned to save up like there's no tomorrow. This is also probably the reason for our always slower groth than the US. At the same time our economic growth doesnt drop as fast as in the US either. Pro's and con's. The money we save in our banks the US lends to their consumers, companies, and government. I think Newsweek a year ago mentioned that 75% of the US debt is European funded. They hypothetically mentioned what would happen if somehow Europe would pull out its money, the bubble would pop. This will of course not happen (very soon). The US is still an economic superpower, but China and Russia are now getting very close to being the top-investment countries of European bankers. Things are shifting, albeit it'll take another 50-100 years to see actual changes happen.
Hm...I babbeling a lot, I might be wrong here and there ;)
Anywayz...in the short run I highly doubt a huge debt will have any grave effects on the US economy. A lower dollar (don't mind that, makes my coming holiday cheaper) maybe and a litlle more inflation. On the long run it just can't be good.
J