Re: US external debt up to $6.494 tln

[George R. Gonzalez]

"Michael Petukhov" > wrote in message
om...
> http://www1.iraqwar.ru/iraq-read_article.php?articleId=31168&lang=en
>
> US external debt up to $6.494 tln at end of Sept
> 01.01.2004 [09:14]


Yes, but what is it relative to the GNP, or the ability to pay it off?

I think if you look at the numbers in relative terms, lots of countries,
including Canada, are worse off.

[Buffy the Vampire Slayer]

"George R. Gonzalez" > wrote in
message news:2YTKb.243982$8y1.1123922@attbi_s52...
>
> "Michael Petukhov" > wrote in message
> om...
> > http://www1.iraqwar.ru/iraq-read_article.php?articleId=31168&lang=en
> >
> > US external debt up to $6.494 tln at end of Sept
> > 01.01.2004 [09:14]
>
>
> Yes, but what is it relative to the GNP, or the ability to pay it off?
>
> I think if you look at the numbers in relative terms, lots of countries,
> including Canada, are worse off.
>

That must be why they want to exterminate all the whales and sell the
carcasses to the Japs?

We got a weak dollar going. We get to sell more exports, eliminate the
deficit and stick it to the Euros all at the same time. Now that's what I
call a win-win situation.

>
>

[Michael Petukhov]

"George R. Gonzalez" > wrote in message news:<2YTKb.243982$8y1.1123922@attbi_s52>...
> "Michael Petukhov" > wrote in message
> om...
> > http://www1.iraqwar.ru/iraq-read_article.php?articleId=31168&lang=en
> >
> > US external debt up to $6.494 tln at end of Sept
> > 01.01.2004 [09:14]
>
>
> Yes, but what is it relative to the GNP, or the ability to pay it off?

some 65% as was by the end 2002, perhaps around 70% now.

>
> I think if you look at the numbers in relative terms, lots of countries,
> including Canada, are worse off.

Unlikely. Captain must know better.

Michael

[Gene Storey]

"George R. Gonzalez" > wrote
>
> Yes, but what is it relative to the GNP, or the ability to pay it off?

There is no way we can pay it off Once California and New York go
bankrupt, then we will all start over.

All the federal (military included) retirements will be gone, and social
programs will be gone, and all that will remain is national defense via
conscription. Just like the old days before FDR.

[Andrew Chaplin]

"George R. Gonzalez" wrote:

> Yes, but what is it relative to the GNP, or the ability to pay it off?

Canadian GDP is 29,300 and US GDP is 36,600.

> I think if you look at the numbers in relative terms, lots of countries,
> including Canada, are worse off.

Given that the external debt of Canada is 1.9 billion or roughly USD
63 per capita, while that of the U.S. (using 1995 figures) is 862
billion or roughly USD 3000 per capita, how do you figure that?

http://www.cia.gov/cia/publications/factbook/geos/ca.html
http://www.cia.gov/cia/publications/factbook/geos/us.html

Probably the real black mark in Canada is personal debt, but most of
that is owed to chartered Canadian banks in CAD. The federal and most
provincial governments, however, have been running surpluses or with
balanced budgets for several years now (I doubt the same may be said
for municipal governments).
--
Andrew Chaplin
SIT MIHI GLADIUS SICUT SANCTO MARTINO
(If you're going to e-mail me, you'll have to get "yourfinger." out.)

[Denyav]

>e got a weak dollar going. We get to sell more exports, eliminate the
>deficit and stick it to the Euros all at the same time. Now that's what I
>call a win-win situation.

One of most daring steps taken by Europeans was the creation of a rather
massive Euro zone,so they are capable of cushioning dollar effects in
export/import trade.
But the Europeans and Japsen are our biggest lenders and we are their biggest
debtor and we are going to pay off our huge foreign debt in (devaluated) US
dollars,not in Euros or Yens.
Thats the most important reason behind the fall of the US dollar.