Is america bankrupt as a country?

Discussion in 'Economics' started by brokenmarkets, Dec 3, 2010.

  1. didn't know ireland, spain, greece, portugal, france etc were bankrupt. why lend money to gov't..the gov't can just cut the deficit. people don't need gov't..most of gov't is wasteful welfare wall street is is on welfare and gov't bailouts and war spending etc.

    the gov't can't tax enough to pay it's payroll and interest on the debt!

    what will happen ifthe US default on it's debt... as it stands, the US as country can NEVER repay the debt.
  2. Roark


    Most of the alleged debt is in the form of entitlements, social security, medicare, medicaid, food stamps and other crap. If the US really runs out of money, the government just declares that the people are no longer entitled to their entitlements and the debt goes away.
  3. USA debts has reached $60 Trillion to $200 Trillion. USA is bankrupt.

    THE actual figure of the US' national debt is much higher than the official sum of $US13.4 trillion ($14.3 trillion) given by the Congressional Budget Office, according to analysts cited on Sunday by the New York Post.

    "The Government is lying about the amount of debt. It is engaging in Enron accounting," said Laurence Kotlikoff, an economist at Boston University and co-author of The Coming Generational Storm: What You Need to Know about America's Economic Future.

    Mr Kotlikoff says the debt is actually $US200 trillion.

    Mr Moylan says the number is likely about $US60 trillion.

    Complete article-:
  4. America can never be bankrupt as long as the world accepts U.S. dollar as reserve currency. America can simple print away any debt, the limit is only the amount of trees available for paper. U.S. is defending dollar by all means.Dollar printing may potentially devalue dollar, but U.S. is maneuvering to destroy confidence in other competing currencies. Current Korea crisis is to disuade China's move in gradual ditching U.S. dollar, as well as EU debt crisis may have U.S. hand, although there is no obvious evidence of U.S. involvement. U.S. dollar is a form of taxation on the humanity by the U.S.
  5. America is has survived because God wants America to survive. I think majority of Americans do not believe in God but God is still helping America for some reason.
  6. Govt will save 1/3rd budget (for e.g. every year USA will save 1.3 trillion) if Supreme Court is closed.
    Your local Politician will have practical knowledge on all issues and can deliver/implement a better Judgement/Verdict.
  7. AK100


    I don't know if it's broke but it sure is 'exceptional' :)

    It's totally AWESOME as well.

    Possibly the BEST EVER country in the history of EVERNESS.

    Certainly 'history was made' when God created the US.

    Let me here it now everyone -

    U S A

    U S A

    U S A

    U S A

    U S A
  8. All the easy money is gone in business via compliance, regulations, "do good stuff", etc. No biggie though, some of theses issues can be overcome.

    What annoys me: Why do corps "invest" their profits in derivitives to enhance the bottom line, whereas in the past, profits were invested in the future of the company a la research, infrastructure, etc?

    For example, one co I followed invested none of its profits improving distribution or employees (to name a couple of items), instead invested in oil and gas leases (totally unrelated to its core business) wtf? This wasn't a hedge, it was just too far out there. Point being if an owner doesn't invest in his own company, why should anyone else? F'd up business model, imo.

    P.s. How did we end up where the profit margin is derived from the credit sales of the product and not from the mfg of the product itself, say auto's for example.
  9. Excessive military spending is responsible for about 80% of the existing debt and deficit. Social security and Medicare have combined for a ~$2.5T surplus so far that has been spent and replaced with IOUs. You never hear these facts by the MSM because the establishment wants to take even more money from SocSec and medicare.

    We definitely need a strong defense and a safe secure country. But we don't need to bankrupt ourselves and take from taxes people have paid for retirement to accomplish that.
  10. Hahaha, I love every minute of it. Fuck retirement and social security. I can't wait till the shits that rely on it go bankrupt!!
    #10     Dec 4, 2010