Just how long can the US survive like this ?
Tags:cost of iraq war, fannie mae and freddie mac, news bbc co uk, news bbc co uk 1 hi business, us housing market,
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Fannie Mae as well as Freddie Mac have done billions in waste as the US housing marketplace has seen the large enlarge in defaults as well as repossessions. To cover these waste the dual firms have been raising supports though investors fright they might not be means to lift sufficient to cover their liabilities. They have to compensate out if typical homeowners cannot compensate behind their home loans.
http://news.bbc.co.uk/1/hi/business/7502310.stm
Now the worries about their monetary illness have strong so many which the US supervision has been forced to come up with the guarantee which taxpayers will column them up to forestall their problems apropos the predicament
http://news.bbc.co.uk/1/hi/business/7505152.stm
5 yrs nose dive of US banking opposite the Euro the Pound
http://finance.yahoo.com/currency/convert?from=USD&to=EUR&amt=1&t=5y http://finance.yahoo.com/currency/convert?from=USD&to=GBP&amt=1&t=5y The startling dump opposite Communist China -http://finance.yahoo.com/currency/convert?amt=1&from=USD&to=CNY&submit=Convert
WASHINGTON — A brand new congressional research shows the Iraq fight is right away costing taxpayers roughly billion the week — scarcely twice as many as in the initial year of the dispute 3 years ago as well as twenty percent some-more than final year — as the Pentagon spends some-more upon substantiating informal bases to await the lengthened deployment as well as scrambles to repair or reinstate apparatus shop-worn in combat.
http://www.boston.com/news/world/middleeast/articles/2006/09/28/cost_of_iraq_war_nearly_2b_a_week/
The estimated race of the United States is 304,355,188
so any citizen’s share of this debt is ,244.48.
The National Debt has one after another to enlarge an normal of
.73 billion per day given Sep 28, 2007!
http://brillig.com/debt_clock/
This does not embody personel debts such as morgadges or State debts
The increasing foriegn tenure of the US – as well as those foriegners have been starting to wish their income behind
http://www.atimes.com/atimes/China_Business/IL14Cb01.html
For the initial time in the prolonged time, Japan has foe as the unfamiliar hilt of American assets. The many new US Treasury Department interpretation – reproduced during the finish of this essay – suggests which China (excluding Hong Kong) hold US0 billion in US prolonged tenure debt as of Jun 2006. Of this, 7 billion was in the form of pooled mortgages. These debt loans have been corroborated – some-more or reduction – by US agencies. Hence, they have been called group bonds. China has been the large customer of the holds over the past couple of months. It was the net prolonged tenure group down payment client of .5 billion in Jul 2007, .7 billion in Aug as well as billion in September
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Wow I’m glad we have problem solvers like Karen around.
How long can it go on…..
As long as we have a strong military and it least some allies that back us up.
Reagan really is the demise of the country.. potentially. It’s quite the irony that he is praised by the conservative side. Reagan began modern neocon policy. "Spreading democracy".. forcefully, sanctions, or more control via IMF and World Bank.
He also began the trickle down economics with regulation absent (though we can blame most of this regulation debacle on Phil Gramm, Gramm Leach Bliley Act, and his wonderful lobbyist conforming ways). We base our economic system on a doctrine written in 1776.. Adam Smith’s Wealth of Nations. Lots of things have changed since then… namely the capitalist role. During Smith’s time, there were only three factors: land, labor, entrepreneur… then around the late 1800s these financiers (capitalists) came along. They were able to turn money into more money…. but without giving really much tangible production to the economy… leaches I like to call them. Suddenly the stock market also began to fluctuate and sometimes the value of a stock is more than the sum of that companies assets. Why would that be? It is not a free market when manipulation occurs.
Once we are able to realize that this is not the same as Smith’s day, we may be able to evolve in our economic thinking. No, not communism.
As for debt, as long as we are in good name, we are on shaky ground but ok. If we continue unsustainable neocon policies, disaster would ensue (See Afghanistan’s war on terror in the 1980s). When greenspan predicted a recession this year, he was going by Chinese investors debating the selling of bonds that would cause the dollar to plummet and plummet hard. If China is economically independent enough from us and have other importers, they might actually consider doing it.
You don’t beat a nation through war. You beat a nation through damaging its economy and institutions. Don’t you think the terrorists would like that? The more money we spend in Iraq, the more money we bleed. The "terrorists win".
Too bad we are too stupid to realize it.
Well if those foriegners push us we will just kick their butts and take their money – dumb Canadian