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He's the Devil I tell ya! The Devil!

Discussion in 'Anything goes' started by alleyallen, Sep 20, 2006.

  1. pallister

    pallister Guest

    I was kidding, marv. Just being sracastic since the m.o. of many people on here is to play the bigot card whenever someone disagrees with them.
  2. pallister

    pallister Guest

  3. The Big Ragu

    The Big Ragu Moderator Staff Member

    This is a wee bit simplistic, FB. Foreigners own a great deal of our debt, and an unwieldy budget deficit is ultimately a bad thing for our economy (I won't retype some of my screeching posts about this).

    But you have to put it in perspective. The U.S. has run budget deficits over a great deal of its history, and our economy has still managed to stay the strongest in the world. As a percentage of GDP, we ran larger deficits during WWII than we are now, and it was actually pretty healthy for our economy then.

    It's not necessarily bad that China is buying our debt. If we are going to run a deficit, it is much worse if they STOP buying our debt. Foreign ownership of so much of our debt is a relatively new phenomenon, so it is a wildcard. In the past, we didn't have to worry about people buying our debt. It didn't get any more credit worthy than U.S. Treasuries. The reason China (and Japan and many other nations) owning our debt works well, is that there is a global interdependency. We have a huge trade imbalance with China, for example. And the system works pretty well. American consumers buy Chinese exports, and they benefit from the flow of inexpensive goods from China. In return, the Chinese buy our government debt. And they benefit from the return on their investment and our continued consumption of their exports. It's a nice, neat little dependency that works pretty well, actually.

    Where it gets dangerous is if our debt levels get so high, and the trade imbalance becomes so great, that the foreigners get nervous and stop buying our debt; i.e. if they decide to diversify their portfolios because we look like we might not be able to pay our bills. I think we are getting closer (but not yet dangerously close) to this happening, and I think this administration has created a fiscal mess. But I don't think we are quite there yet. As I said, you have to put it in the proper perspective.
  4. Claws for Concern

    Claws for Concern Active Member

    Enough about Tie Domi! Yes, he's the Devil. I'm just glad he never played for the Devils!
  5. Ledbetter

    Ledbetter Active Member

    Thanks for explaining that. I can't say I didn't learn something today.
  6. Still not exactly the rock we once were, and, for whatever the reason, we need the Chinese -- and the goods that they produce through their slave labor -- to keep us afloat. That they seem willing to do so does not comfort me.
    And if Hugo Chavez were American, he could be a general in the army!
  7. poindexter

    poindexter Well-Known Member

    Gotta love that religion stuff. It's done so well for the world throughout the centuries.

    [/slaps head]
  8. Can't argue there.
    Maybe Darryl Strawberry can come and clean things up.
  9. Funny how Chavez's rants sound a lot like Democratic talking points.
  10. Flying Headbutt

    Flying Headbutt Moderator Staff Member

    Only those on the far left. And as someone who thinks Bush has done an absolutely terrible job, I thought Chavez's rant was embarassing. What a buffoon.
  11. farmerjerome

    farmerjerome Active Member

    I can't help it:


    Take that, Bobby Boucher.
  12. alleyallen

    alleyallen Guest

    OK, this easily qualifies as the best response to the post, hands down. And as a Devils fan, I share your joy in knowing Domi wasn't a Devil.
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