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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: KyrosL who wrote (46449)	2/15/2009 10:43:12 PM
From: Sunny Jim	Read Replies (2) \| Respond to of 218621

<<Let us not forget that just 8 years ago, the US was on the verge or a balanced budget, including Social Security obligations, and the projection was that within the decade all of US public debt would have been extinguished. Bush's tax cuts and wars changed that of course.>> Sounds too good to be true - and it is. It's hard to believe that the tax cuts and the war are the reason that we now face $65 trillion in liabilities when we could be out of debt totally if Bush had not been elected. What BS! How does a $trillion worth of tax cuts and a war that cost another $trillion put us so far in debt? I'll tell you how - your statement is not the least bit accurate. I certainly wouldn't defend Bush's handling of the budget, but for all the mistakes of the past couple years (and by the way, the Democrats were in control of the Congress), the new Administration and the Congress's fiscal actions going forward are going to make Bush's budget look like wise stewardship.

To: KyrosL who wrote (46449)	2/16/2009 4:01:48 AM
From: Haim R. Branisteanu	Respond to of 218621

All what you write is correct but since things have changed IMHO. The US can dig itself out of the hole only with a substantial devaluation (UDX index below 65 to 70). GM, Chrysler, Ford are on the verge of Chapter 11 if not 7 Military might can only go so far - at present the US is the power calling the shots but it is already overextended As a side remark US exported most manufacturing capabilities to China, Korea and SE Asia, EU exported a major part to Eastern Europe and Turkey which is in their economic sphere and there lies the difference. During my visits in Eastern Europe and Central Asia you see plenty of EU made goods but very few US made goods - I can only assume the same is in Russia. This captive market is well above 200 million people For that matter if Louisiana would be a stand alone state would you buy their debt? Same for Michigan or Ohio … or… Message 25414316