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Old 04.02.2010, 15:23
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The United States of Debt

Here's a scary interactive atlas of U.S. debt from Forbes:


The scariest bit is that tax revenue has tanked between 8% and 13% in many States. So not only are they in debt, but the respective State's ability to stop digging the debt hole any bigger is limited.

Sorry, with so much frivolity on EF I thought a bit of reality-horror would balance it up.
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Old 05.02.2010, 10:34
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Re: The United States of Debt

Per this Drudge-promoted story the dollar had a good day, as Europe is having a rough go with its weaker economies:

My handy currency converter says the rate v. the euro is $1.36, after sitting at about $1.43 for a while. Think this trend will continue, despite the bad job numbers in the US, or is it a fluke?

Debt is easier to pay back when your currency is worth more, right?
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Old 05.02.2010, 10:51
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Re: The United States of Debt

James point well raised and I think the whole US situation is very scary, especially for the developing nations which are holding huge Dollar reserves and are depending on the exports. We'll see soon if there are rating and soverign fund devaluation issues posting a serious threat to other stronger nations like US in near future.

Oakley, the point you have quoted is based on day today view. It is just todays news. Within last 30-40 days euro was above 1.5 for a while. Now it is down to 1.36 only because people see issues with Euro Zone, especially for countries like Greece, Lithuania and even Portugal and Spain. The dollar rise in a situation like this doesn't reflect the strength in real term. It is like people unwinding Euro so what do you unwind into. Not commodity because Oil and Metals are hit hard and even gold and silver. So in a situation like this Dollar is perceived as Safe Haven. Both being large traded currency, any unwinding in Euro gives good spurt to USD.

Having said that I won't say USD is going strong. It is cyclical and in long term you need to see the value of currency against Precious Metals or other commodity to see the strength or weakness.
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