<My main point was to Maurice that the 6 billion figure is irrelevant to a discussion of the US.>
Mark, I'm an alien, but I have USA credit cards, chequebooks, I own USA companies and have borrowed more money [in the form of US$] than I once upon a time ever imagined I would own, to fill my little Tonka Truck with Nasdaq listed companies which are registered in the USA and Bermuda.
So does my debt count in that $30 trillion? How about all the other people I know who have sent money to the USA, borrowed from the USA, but are aliens?
All that matters about debt is the ability to repay. If somebody defaults [due to, for example, Globalstar going bust], the lender uses the security they hold to take possession of some assets. Bad luck for the debtor!
It's a global economy now. There is no such thing as a USA economy, standing proudly in isolation. GeorgeW is messing with steel tariffs - he has introduced new taxes on USA citizens and is shutting down trade, while subsidizing farmers, which shows hypocrisy in the White House is as virulent as ever.
Alan Green$pan, to his credit, understands that he is responsible for maintaining a stable global financial system. He is dabbling in a much bigger pond than just the USA. Naive and ignorant Americans would think that he should not worry about aliens and just look after the USA. He understands that to look after Americans, he needs to maintain stable international financial transactions and systems. That's why he opposed the steel tariffs.
Ignorant, naive, stupid and self-destructive people despise our hero, good old Uncle Al. They are treasonous traitors who support the destruction of the USA. John Walker Linde is a babe in arms compared with those who would ruin the decades-long achievements of our great idol, Uncle Al, who has saved the world from the irrational exuberance of the mindless maniacs who gambled on the dot.cosmic, telecosmic and CDNA [TM] speculative fever and did it with borrowed money to boot.
When mobs riot in the streets or the stock exchange, there is nothing that a central banker or the police can do about it. A million irrational crazies are stoppable only by nature, which maintains a very strict adherence to the death penalty for crimes against nature, whether it's stepping in front of a bus, swimming among White Pointers, eating too much of the wrong sort of food, sucking smoke into lungs, or borrowing and hoping in speculative fever in the stock market.
Mqurice |
