When ISN'T debt a problem. And when the debt is as big as America's, you better hope someone named Guido don't come to collect!
^ Yes debt is a problem but what exactly kind of problem is it for America to have a country like China owning our debt? That's what Friedman was asking. He was asking,so China owns our debt so what of it exactly? What's the worst that can come of it?
Heres how you solve Americas debt problem.Seize the Bush and Cheney families wealth.Those scumbags must be worth at least 50 billion dollars together.Then force Saudi Arabia to pay for the BS war that America is fighting for them.There you go ,no debt.LOL.Too bad that won't happen.
how about we scream at the planet to wake up and submit to its global awareness...then slaughter those who stand in the way of what ever a brain thats spread over an entire planet wants to achieve....do planets mate?
It's true: we tend to use those credit cards way too much..! Everybody wants more and more, cuz that's the world we're in . I flipped a couple homes myself and made some dough a few years ago. Now we just need a bailout, so we can start all over again!!
one danger is that China (and Japan) can use it for political purposes , basically they can influence American politics because America owes them so much. America needs China and Japan to continue buying dollars and so puts itself in a difficult situation where is can easily be blackmailed the other problem is that they can decide to spend all those dollars. this would result in a steep drop in the value of the dollar. this will be a disaster for America. it is important to remember that foreign and international holding of US treasury securities constitutes only around 25% of the national debt
you obviously know nothing about economics duck said: you should learn some. i think economics should be a compulsory subject in school so people will know more about how the world works and stop fantasying about evil corporations and the rich exploiting the poor ...
I think the bigger problem is that the entire economy of the US is currently based on debt and margin. How powerful can a nation that plays that game remain. At some point those investing in the US will wake up and decide they no longer want our empty promises of a future bubble. What then?
Yes, America is in serious trouble. The only way to get out of this mess is to tax the rich till they bleed. These freeloaders have been getting the royal treatment for the last 30 years thanks to Republicans while average americans are bearing the tax burden. But that will never happen, cuz the rich man wants to oppress the littleman by calling socialism a bad word.
