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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (270534)1/30/2006 7:00:04 AM
From: Elroy  Read Replies (3) of 1575874
 
Hard to see what the point of that article was. From my read, only these two sentences stood out.

But absent policy changes to curb its borrowing, America cannot escape the consequences of its debt indefinitely. The effects may be sudden or gradual, but either way, they mean a weaker economy than would otherwise be the case.

Weaker than if America had never borrowed a dime? Doubtful, but anyway, what exactly is the danger, according to this author?

But the boom appears to be moderating, a slowdown that will only worsen if America's foreign indebtedness leads to sustained downward pressure on the dollar and upward pressure on interest rates.

He thinks the dollar will decline in value AND interest rates will head up? Those two things are usually contradictory, but whatever.

As I read it, the author might just as easily have summarized his entire article in one sentence - American set a record for foreign debt in 2005, and stopped there.
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