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Politics : Foreign Affairs Discussion Group

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To: jttmab who wrote (161437)	5/6/2005 12:25:54 PM
From: Hawkmoon	Read Replies (1) of 281500

In a world of "free trade" the US loses. We have to be the loser; we have one of the highest per capita incomes in the world. Doesn't that kind of beg the question of how obtained that per capita income level in the first place? No.. no.. don't tell me. We've exploited the world's masses.. ;0) But let's return to the original point. Any breakdown in the global economic and financial system is not likely to be at the hands of the US. It's far more likely to be sparked by developing countries into which our banks have over-extended themselves (eg: Latin American Bank Crisis of 1982). And considering the US is taking the "drastic" step of considering reissuing 30 year bonds, while countries such as France have 50 year bonds, seems to indicate they are placing more competitive pressures on the US bond markets. So tell me which nations are more "stressed" financially that they have to offer bonds that mature in a half-century, to cover their current liabilities? Bottom line.. Does the US economy face challenges? Certainly.. However, other countries are facing similar or even greater problems. Hawk

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