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  #1  
Old 27.06.2011, 19:53
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Is the US in denial over its $14tn debt ?

Is America in denial about the extent of its financial problems, and therefore incapable of dealing with the gravest crisis the country has ever faced?

Denial being a human quality, can one personify a nation ?

Are we at the first of DABDA in the death of the US economy ?
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Old 27.06.2011, 20:51
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Re: Is the US in denial over its $14tn debt ?

Yes, Yes, Yes, Yes !!!!!!


What's necessary for them to see the reality ????

I just don't understand.

And the rest of the world is still waiting for the US economy to pick up, so they can profit from it, e.g European crisis, China's resp. Asian $ holdings
and foreign investments in $.
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  #3  
Old 27.06.2011, 21:47
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Re: Is the US in denial over its $14tn debt ?

Nope. They're just hoping to print their way out of it.
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Old 27.06.2011, 21:58
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Re: Is the US in denial over its $14tn debt ?

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Nope. They're just hoping to print their way out of it.
Well, with everything I've been reading, I don't know that Bernanke is going to be able to go with QE3 and survive. With so many economists talking out their backside, it's hard to know WTF is going on. One thing is sure, though, the rich are getting richer and the poor are about the same or poorer so it makes you wonder what could and will actually happen in the next few years.

Where's deep throat when you need him?
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Old 27.06.2011, 22:24
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Re: Is the US in denial over its $14tn debt ?

It's a giant mess. And one that reminds me constantly of why I am so happy to be in Switzerland, even with all of the rules. Seriously... I'd rather not flush the toilet after 10pm for the rest of my life than have to live in the US right now. It's that bad.
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Old 27.06.2011, 22:33
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Re: Is the US in denial over its $14tn debt ?

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It's a giant mess. And one that reminds me constantly of why I am so happy to be in Switzerland, even with all of the rules. Seriously... I'd rather not flush the toilet after 10pm for the rest of my life than have to live in the US right now. It's that bad.
It is a dilemma....as much as I want to go back to NE and stuff myself full of grinders and whoopie pies, I'm waiting to see what happens this summer. It seems rather bad all around so it's hard to say whether staying here is better or not, especially with the franc so strong. If both the US and the EU hit the crapper, though, nobody will be unscathed.
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Old 27.06.2011, 22:43
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Re: Is the US in denial over its $14tn debt ?

we are also seeing to what is happening in the USA. Wanting to be out of CH as soon as possible , and the USA being our only other interest at the moment i hope it starts going up again soon. It seems it is slowly anyways
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Old 27.06.2011, 23:16
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Re: Is the US in denial over its $14tn debt ?

It continuously dumbfounds me that the US government is STILL pouring so much money into its defense system.

I wonder what kind of interest rate we're getting from China...
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Old 27.06.2011, 23:24
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Re: Is the US in denial over its $14tn debt ?

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I want to go back to NE
Is NE Nebraska, or New England?

Tom
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Old 27.06.2011, 23:29
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Re: Is the US in denial over its $14tn debt ?

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Is NE Nebraska, or New England?

Tom
Nebraska has missile silos and vast empty spaces. NE has grinders and whoopie pies and wicked awesome beaches.
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Old 28.06.2011, 01:15
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Re: Is the US in denial over its $14tn debt ?

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It is a dilemma....as much as I want to go back to NE and stuff myself full of grinders and whoopie pies, I'm waiting to see what happens this summer. It seems rather bad all around so it's hard to say whether staying here is better or not, especially with the franc so strong. If both the US and the EU hit the crapper, though, nobody will be unscathed.
I make kick ass whoopie pies. When I get back to CH, I'll send you some.
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Old 28.06.2011, 02:09
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Re: Is the US in denial over its $14tn debt ?

Dude, just relax...
$14 trillion in debt? that's easily monetized which in turn leads to a major disaster and then a rebound in the years to follow.
Rome did it in the year 400, US did it in the 1790s, France in 1810s, Germany in 1930, GB in 1945, Argentina in 2001...
Empires do need wake up calls & fresh starts; that's what's going to happen in the U.S.
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Old 28.06.2011, 02:19
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Re: Is the US in denial over its $14tn debt ?

If you don't want to read the whole article I think reading the last little bit is key and the author has it completely right. It boils down to the US politicians care more about their damn reelection and making the other party look bad than working to save the country. Seriously days after taking office they start up their campaign fund for re-election.

Despite the economic downturn that "caused" companies to lay people off the last election had RECORD spending by corporations on election funds. I highly doubt companies would dump so much money into the election funds if they saw no return on investment.

Nobody wants to make hard decisions they just point their fingers at the other party like little children...
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Old 28.06.2011, 13:27
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Re: Is the US in denial over its $14tn debt ?

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Nobody wants to make hard decisions they just point their fingers at the other party like little children...
But isn't that what happens worldwide? there is only about a handful of honest, caring politicians globally...
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Old 28.06.2011, 13:35
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Re: Is the US in denial over its $14tn debt ?

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I make kick ass whoopie pies. When I get back to CH, I'll send you some.
Seriously?! I'd love that! Where do you get the corn syrup/molasses? My recipe needs those...maybe I can also steal your recipe?
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  #16  
Old 28.06.2011, 14:01
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Re: Is the US in denial over its $14tn debt ?

The US is currently leverage 6:1 against its tax revenues. Even less if we assume their new $300bn in tax revenues from the Medical Bill they passed last year.

Countries typically go bankrupt at +11x leverage (Newfoundland, Spain, Germany 1923, etc)..... Japan is a bigger worry for the mean time. Their savings rate is now negative AND they are leveraged 14.5:1......
Attached Files
File Type: pdf us debt.pdf (130.8 KB, 237 views)
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Old 28.06.2011, 14:47
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Re: Is the US in denial over its $14tn debt ?

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What's necessary for them to see the reality ????

I just don't understand.
There is simply no benefit/motivation for politicians or even regulators to see it. The entire system is stacked against doing the right thing...

a) incumbent politicians and regulators have a long term view that stretches all of 4-5 years at the most. It is quite likely that they can print their way out of this mess in the near term; sh1t is not likely to hit the fan soon if they continue raising the debt ceiling and running the printing presses all night and on weekends.

b) Not raising the ceiling will lead to painful adjustments. A federal default, for sure, will be more than just painful. It will be traumatic. And Americans simply do not have the stomach for any belt-tightening at all. The common man is happy to bury his head in the sand, and leave the next generation to pay for this mess.

c) The financial sector will be in for some major suffering if the debt ceiling is not raised. And the first commandment of American politics says very clearly... "Lay off the Banks."

Simple really ....

Last edited by dino; 28.06.2011 at 14:52. Reason: spelling
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Old 28.06.2011, 14:48
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Re: Is the US in denial over its $14tn debt ?

http://en.wikipedia.org/wiki/List_of...by_public_debt

relax, everything is ok.
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Old 28.06.2011, 14:49
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Re: Is the US in denial over its $14tn debt ?

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Is NE Nebraska, or New England?

Tom
or maybe Neuchatel??
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Old 28.06.2011, 14:56
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Re: Is the US in denial over its $14tn debt ?

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Is America in denial about the extent of its financial problems, and therefore incapable of dealing with the gravest crisis the country has ever faced?

Denial being a human quality, can one personify a nation ?

Are we at the first of DABDA in the death of the US economy ?
The American debt has always been growing and people have always been predicting that something bad was going to happen. Since then it has continued to grow and the predictions have also continued. Today the debt is still growing and guess what? People are predicting something nasty is going to happen

Some time back in the 1970s, Richard Feynmann said:

There are 10^11 stars in the galaxy. That used to be a huge number. But it’s only a hundred billion. It’s less than the national deficit! We used to call them astronomical numbers. Now we should call them economical numbers.
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