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To: Broken_Clock who wrote (22131)	5/15/1998 6:17:00 PM
From: waverider	Read Replies (2) \| Respond to of 95453

OT....O.K. PK, you make some very good points. And I partially agree with you in terms of the dangers of our national debt. That said, debt is a good thing if managed properly. I have a home because of debt and have leveraged my assets to make more money than I could have otherwise (don't think I took out equity on my home to invest in the market 'cause I haven't...now I know you were thinkin' that, right? :). That said (I think I said that before), debt can be excessive and we (the US) are in that forest now. I know there are dangers, but I have faith in our country to pull itself out before it becomes a disaster. That's just the way I view the world. Perhaps I can buy you a beer at our party and we can discuss this more. I'll use my credit card. ;) BTW, I have several other buddies who work in Asia...and you are right about that situation. WE HAVE NOT seen the end of their troubles by a long shot. <H>

To: Broken_Clock who wrote (22131)	5/15/1998 11:50:00 PM
From: k.ramesh	Respond to of 95453

This business of comparing US public debt to personal checking acct . is attention grabbing, but nothing else. You and I do not have the right to increase our income because our expenses went up, governments can do that as you well know. And here the US does have room, ie ability to raise taxes if necessary, Compared to some European countries Uncle Sams take is low and public expenditure as a proportion of the economy is lower. A 'happy' way to look at debt is that this is how the rich own the country, US debt is like buying a share on Uncle Sam's power to tax, 6% gives a P/E of about 16 to 17, economy growing at say 3%, but guaranted never to stop ! As for those other countries demanding their money back, etc. what proportion is foreign owned? (about 20%?) Subtract the fact that it is denominated in dollars and not in Y or DM or pesos. Add the fact that the US is seen as the stablest environment for business etc etc. Then there is enormous market power wielded by this country, Can dictate the price of virtually any commodity either because it is the largest consumer eg. coffee or one of the largest producers of eg oil gold al cu etc. And of course the last resort, the biggest baddest arsenal man can buy. Finally India did not show the middle finger to the US, From someone wanting the US to show humility, this is a very US centric view. The billions of people outside this country do have other concerns - friends, enemies, means of survival . (see my prev posts on this topic) Hey! I enjoy your posts and am not disagreeing with what you say, just the degree.