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Politics : Formerly About Advanced Micro Devices
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To: TimF who wrote (218218)2/8/2005 9:49:22 PM
From: Road Walker  Read Replies (1) of 1572338
 
What you don't seem to get (or choose to ignore, scary) is that creditors, the Europeans, Japanese, Chinese, Koreans are real people. They asses risk by measuring revenue and debt, and time risk. Our absolute budget deficit is already at record levels; our current account deficit is at record absolute and relative levels. Our private debt is at record levels.

Now we want to borrow another $6Trillion over the next 15-20 years, with the promise that things will get better in 50-60 years? While the dollar is in decline. Do you make that loan?

China has grown at an 8%+ rate over the last 25 years, we've grown at a 3% rate in the same period. They are probably going to be a larger world player in the next 20 years. Europe is coming together economically and politically, and will probably be a larger market in the next 10 years. It's likely we will be the third largest economy well before those loans are paid off, and saddled with third world debt.

Wake up. Our debt is not a problem, it is THE problem. And until THE problem is solved, we can't make it worse.

John

On top of that, we've pissed them off politically. They don't like us... and if you don't think that matters then you have another lesson to learn.
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