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Pastimes : Kosovo -- Ignore unavailable to you. Want to Upgrade?

To: John Lacelle who wrote (3660)	4/14/1999 6:40:00 PM
From: D. Long	Read Replies (1) \| Respond to of 17770

On the contrary John, the US is the richest, wealthiest nation on earth. The federal government owes approximately 5 trillion dollars to itself with only a fraction of that owed abroad. The majority of that debt is held by American citizens in the form of securities. We do not owe 5 trillion dollars to other nations or entities. Second, my last available figures from 1993 put the gross productive income of the US at over 4 trillion a year, that is privately generated wealth. We are both the largest consumers and the largest producers of goods in the world. The US is literally the keystone of the world economy. Your post was misleading. The US government is not the US economy. Government debt is not private debt and private wealth is not subject to government debt, until the tax man comes to take it. The US government could be in the midst of imminent collapse, and the US economy would be unaffected (hypothetically speaking in the sense of the economy not being synonomous with the government, of course the collapse of the monetary system and legal guarantees would bring the economy down with the government).